Inventory management is all about knowing what you have, where it’s stocked and how much you’ll need. Easier said than done though. That’s where GEP brings value.
GEP uses a multiechelon approach to inventory management to enable today’s global, interconnected business operations to prevent stock-outs and improve supply efficiency.
With years of experience managing inventory for global market-leading companies, GEP helps clients streamline their inventory through best-in-class processes and highly efficient tools.
Why Choose GEP?
GEP's inventory management services optimize your supply chain, from planning and replenishment to advanced techniques like Kanban and Just in Time (JIT). Our experts help you streamline operations, reduce costs and improve customer satisfaction.
Our comprehensive inventory management services encompass:
- Inventory Planning
- Replenishment Services
- Material Optimization (Daily, Weekly, Monthly)
- MRO Inventory Planning
- Kanban/Two Bucket System Implementation
- JIT Implementation
- Inventory Cost Accounting
- Warehouse Operations Optimization
GEP’s experts help you optimize and manage all components of your inventory operations, including cycle stock, safety stock, pipeline and pre-build inventory, to enhance efficiency across the value chain.
Using proven inventory management techniques, GEP makes your organization agile enough to handle demand fluctuations without compromising service quality. By leveraging time-phased demand signals and JIT strategies, our experts improve supply efficiency and customer service levels.
We help you plan inventory to ensure the right stock is available at the right time and place. Our team works with you to improve inventory cost accounting, streamline credit management and enhance cash flow, freeing up valuable working capital stuck in inventory. Contact us today.
Key Capabilities
Frequently Asked Questions
Inventory management systems track a business' inventory levels, orders, sales, and deliveries. They can also be used to create work-orders, receipts, bill of materials and other documents critical to the smooth and efficient running of a company.
Modern-day inventory management systems can be used to track goods and resources throughout their life cycle as they are geo-tagged and tracked remotely. This allows companies to get a view of the moving parts of their supply chain process, identify bottlenecks, and fix issues before they begin to accumulate. Incorporating the latest technology, such as AI, big data, and the Internet of Things (IoT) can allow inventory management systems to automatically reorder goods, ensuring that stocks are kept at optimum levels.
Manual: Spreadsheets or paper-based, these systems are low-cost but are error-prone.
Software: It provides some scope for automation for recording, reporting, and analysis. It can also integrate scanning devices for broader organizational operations like orders, purchasing and accounting, enabling end-to-end visibility.
AI-Driven: Over and above what software provides, AI-driven inventory management systems enable businesses to accelerate efficiency, maximize visibility, mitigate risk and empower people to make the best decisions.
Inventory Management Systems Benefits
Benefits include optimized inventory levels to avoid costs of excess or shortage, order accuracy to reduce picking errors through validation, end-to-end visibility for real-time inventory tracking, and reporting capabilities to identify trends, waste, dead stock for better planning.
Inventory Management Systems Best Practices
Some of the best practices include classification of inventory by XYZ analysis for differentiation, implementation of cycle counting for constant validation, integrating systems for end-to-end visibility, and more importantly ensuring staff has sufficient training on procedures and technologies.
