Software Widgets

Thoughtware Article Published: Mar 13, 2014
Person typing on a keyboard

With everyone’s busy lifestyles and busy days at the office, it is very important to have key analytics information at your fingertips. Many of the top global enterprise software publishers have developed widgets to show key performance indicators (KPI) in a user-friendly dashboard presentation that directly integrates with their enterprise applications. Examples include business intelligence applications, displaying critical KPIs on financial data of the company in a dashboard format with drill-down capabilities.

Another widget that caught my attention allows users to view details about where they have too much inventory and not enough. This information is vital to companies with more than $100,000 of inventory, because it can reduce excess inventory, working capital and stock-outs.

This widget is Inventory Advisor by Sage Software. Sage is a global leader in business management software for small to midsize companies and has more than six million global customers.

So what is Inventory Advisor and what can it do for my company?

Traditional wisdom about controlling your inventory is to keep heavy stock of your products, because less stock translated to poor customer service.

However, current wisdom leads to deploying a product like Inventory Advisor. It is a cloud-based solution that integrates with Sage’s business management software applications; its main purpose is to help companies reduce excess inventory, working capital and stock-outs. Its additional functionality allows for better planning and forecasting and can save time otherwise spent calculating reorder quantities.

Inventory Advisor is fast to implement and cost-effective. It can be accessed anytime, anywhere, and it doesn’t need a local server or software installation. Updates are worry-free. Deployment is rapid and scalable, and its use of PGP data encryption/decryption makes it highly secure.

Inventory Advisor provides full visibility of your inventory, offering early warning signs of items needing attention. Not only will Inventory Advisor show existing stock-outs, it also provides details of potential stock-outs looming and surplus orders. Inventory Advisor can help you increase sales by making sure stock is in the right place at the right time, allowing you to grow your business. More working capital and better alignment of product risk means you could have more cash reserves to put back into your business.

Potential benefits:
• Reduce excess inventory by 10 – 15 percent
• Reduce working capital and free up 15 – 20 percent of cash tied up in inventory
• Improve fill rates by 2 – 10 percent and dramatically reduce stock-outs
• Reduce time spent forecasting by as much as 50 percent
• A great fit for distributors, make-to-stock manufacturers and retailers

Please contact us if you have any questions.

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