How Coupa Inventory Management Matters for Your Supply Chain?
Here’s a surprising fact.
An IBM report states that 80% of all the supply chain data is unstructured or dark data, whereas only 20% of it is structured and can be analyzed easily.
It emphasises how crucial Coupa inventory management is to your supply chain. The most recent pandemic has seen all the ongoing supply chain disruptions, which has enhanced the need for advanced analytics to expose the necessary data for never-ending operations.
How Does Coupa Inventory Management Adds Efficiency to Your Supply Chain?
In this blog, we will acknowledge the main reasons of adopting coupa inventory management software is an uncompromisable part of your supply chain.
Transparency into your inventory
Flawless inventory management starts with complete visibility at the granular level stretching to individual orders. It gives you information regarding
- Units in the manufacturing process
- Inventory stuck at the port
- The exact location and ETA of the inventory
- Units stored at the warehouse yard
- Units ordered and more
With all this information, the Coupa inventory control software forecasts the supply and demand within a given time for me by making any necessary adjustments. Track and manage your inventory levels efficiently and minimize the carrying cost by reducing excess inventory.
Bid goodbye to any wasteful spend
With the high-tech Inventory management by your side, you can see overbuying that will ultimately prevent the storage of excess stock in the warehouse. It also eliminates overall spending by reducing waste and repurchases. You can say warehousing, access inventory maintenance, and storage cost by Keeping the operating holding and overhead cost under the threshold limit.
The pandemic brought so many unexpected situations to the picture. The unpredictability in different markets brings instability to your inventory levels that can disrupt your inventory operations.
With the Coupa inventory application, this issue is also resolved. You can consider all the aspects while predicting the future inventory status and take the risk into account for safe and informed decisions.
Improve the time of delivery
The complete and accurate information about the status of your inventory allows to improve customer satisfaction and shorten delivery times. It has also been a crucial factor in increasing the sales of an organization by having the availability of all the products that are in demand and can be delivered to the required customer at a low cost.
Sharing all the information about the inventory levels with supply chain partners and stakeholders empowers your company. It helps you collaborate with them easily so that they can understand the effects of inventory on your organization. Everyone can stay prepared in advance to make informed decisions, from marketing and sales to human resources, customer demand, and accounts.
Leverage complete information about the stock levels, inventory, and usage into internal and external orders from one system. It also allows you to discover new opportunities for inventory optimization so that you not only address demand expectations but also reduce the cost of common inventory issues such as stock out, overstocking, and backorders.
Streamline Your Supply Chain With Safe, Efficient, and Effective Coupa Inventory Application
Inventory management is one of the most important aspects of keeping your supply chain running ceaselessly. Thinking that you can manage it manually without the use of technology can hamper your growth and surge your expenses unnecessarily.
On the contrary, by adopting the Coupa inventory management application, you can skyrocket the performance of your inventory operations. It has a closet full of features that will leave you awestruck. Connect with us and let us walk you through a detailed side of this flawless technology with a free demo.