Category: Route Accounting Solutions

Route Accounting Solutions

Why Should You Use a Load Order Optimization Tool?

Posted on

Local distributors have to do one thing and do it well: Get a retailers order to their location on time and undamaged. And the savviest of distributors use a specific tool to help them do the job right – a load order optimization tool. If you’re not familiar with this tool and how it can help you decrease costs and increase efficiency, read on.

TORONTO, ON – JUNE 17 – A pallet of empty bottles begins the refilling process on the depalletizer conveyer at Molson Breweries. The depalletizer removes the cases of empty bottles one row at a time and is the first stage of the refilling process. The Star followed this pallet of bottles from a Beer Store in Brampton that were recycled and back on the shelves at another Beer Store on the same day. June 17, 2013. Randy Risling/Toronto Star

What Are Load Optimization Tools?

When you’re loading a truck, you want load pallets that are stable, and place them appropriately on the truck to ensure cargo space is maximized, weight distribution is appropriate and it will simplify the driver’s job at time of delivery. A good load optimization tool will do all of that – and more.  Here are some of the ways these tools can help to ensure your trucks are loaded as safely and efficiently as possible.

Pre-Load Logistics

Once an order has been submitted by a salesperson, that order is sent to a load screen so technicians can confirm that it’s in stock and get a pallet ready to load. Our Orders to Load system takes the guesswork out of the process and ensures that after the order is committed, the remaining processes goes smoothly.

Pallet Planning

Building a pallet takes time and effort to ensure that you use the space most efficiently. But a load optimization tool, such as Palletization by eoStar, does the work for you. It helps you pre-plan the pallets and load build so everything is organized and stable before the loading begins. The beauty of this program is that once you set it up for a specific product and customer, you won’t have to do it again. It is truly a set-it-and-forget-it system.

Load Planning

Once your pallets are stacked, a load optimization tool will help you load the truck in a way that makes the best use of the cargo area. The tool will also ensure that the cargo is evenly distributed and in the order of delivery sequence. You will have access to graphs and charts that show you where every container is located. Load order errors will tell you if the bay and/or truck capacity is exceeded or if the balance is off.

Is Palletization Customizable?

Every local distributor works with those clients who demand that specific pallets are used or have other requirements that won’t work with a one-size-fits-all type of software. Luckily, our load optimization tools take all of that into consideration.

Here are some of the ways the tools offer customization:

Pallet Variety

Chances are when you load a cargo area, you will have more than one size pallet. The Palletization Tool takes that into consideration and supports multiple sizes. That means you can simply match the product sizes with the pallet size of your choice and let the software do the hard work.

Customer-Driven Sizes

When setting up a lot of pallets for one customer, you can choose to assign it a default pallet size. That way, every time you load pallets for that manufacturer, the system will automatically use that pallet size when configuring the pallet load.

Bulk or Aggregate

You can use the software for bulk or aggregate loads. Bulk loads will assign items from an order onto one or more pallets and will be sorted by pick sequence. Aggregate loads will contain products from a number of orders and will be organized based on pick groups. These pallets will also be sorted by pick sequence.

Manual Override

If there is a special requirement to the load, you can always override the bay-by-bay assignments and customize them to your needs at that time.

Load Optimization Tools Help You Work Smarter

You know the saying: Work smarter, not harder. These tools will help you reduce damage in your shipments by ensuring that the loads are stable. They can also help increase your efficiency with palletizing patterns and load planning capabilities at the push of a button.

If your goal is making loading pallets simpler, having a load plan that helps maximize cargo space, and easier loading according to delivery sequence—all with customization options, eoStar is your answer. 

Route Accounting Solutions

What Is Dunnage and How Can You Prevent Its Loss?

Posted on

Beverage Industry Dunnage And Types?

When looking for a dunnage definition, it depends on what industry you serve and whether you want shock absorption, the restraining of loose material, or you need plastic bracing. For instance, the dunnage materials you would use to protect a fragile item, such as bubble wrap, Kraft paper, and air pillows, won’t necessarily be used in the beverage industry. Some types of dunnage utilized within the beverage industry include plastic or wood pallets, hard cartons and empty kegs.

Back in 2014 when MillerCoors, now Molson Coors, decided to stop using disposable dunnage such as corrugated paper and began loading its products onto reusable dunnage, it saw a cost savings of $8 million a year. But since then, we’ve learned that switching to reusable dunnage is only part of the story. By transitioning to an electronic management process, you can ensure that all the dunnage you ship is tracked and returned.

Lost Dunnage Equals Fewer Profits

As a local distributor, you know all too well how costly it is when you have to call a manufacturer and report that their floor dunnage or other packing components are lost or are held at the store. It’s your responsibility to prevent damage to dunnage, to protect and follow its movement, and to make sure it gets back to the warehouse. If all of these things don’t happen, it negatively affects your bottom line.

What’s the Answer to Lost Dunnage?

Custom dunnage solutions, such as retail tracking, can take away the burden of manual tracking by automating the system. In a word: Dunnage retail tracking is a solution that not only saves you money by ensuring the dunnage is tracked and returned, but it can save in other ways, too.

Ensure you are tracking dunnage for the duration of its life cycle from the time you receive it from a supplier until the time you return it to the supplier.  This means your system will need to also be aware of what dunnage is used in the fulfillment process, meaning deliveries that you are sending to retail.  At any point in time, you should know what dunnage a retail account has so that you can actively manage the account to ensure its timely return to your warehouse.

At eoStar, we understand the value of the dunnage in your possession and how it can affect your bottom line.  Our fully integrated warehouse and mobile sales and delivery solutions provide you the ability to track dunnage throughout its lifecycle in your warehouse and its time at retail through our underload tracking functionality. 

Stop Profit Loss With the Right Dunnage Retail Tracking System

It doesn’t matter if your freight is being loaded onto cargo ships or driven just down the road, the dunnage it carries must be returned or you will be out-of-pocket. And today’s manufacturers have come to expect that local distributors have taken the steps to protect their assets.

Sure, you could outsource the procedure, but the cost of the service may eat up the savings you get from tracking and retrieving all of that dunnage. Instead, why not use in-house software that was designed specifically to help distributors like you maneuver the process yourself and keep the extra profit to grow your business? Be sure to connect with our sales team to discuss how to save on dunnage.

Route Accounting Solutions

E-Commerce Benefits Both Customers and Distributors

Posted on

In the past, distributors were slow to adopt e-commerce platforms because the existing methods of selling had always worked, with sellers going to customer locations. When distributors did choose to adopt e-commerce platforms, it was largely out of necessity, as a cost- and time-saving measure to avoid having to send sellers out to distant customer locations. The decision to adopt these e-commerce platforms was not strategic, and the platforms themselves were not particularly user-friendly, as they were lacking a lot of the information that customers would want to see and they were often hard to navigate.

Now the expectation from customers is that distributors will offer an e-commerce platform for ordering. Customers want the convenience of placing orders when it’s convenient for them and from any location and device. They expect seamless navigation and the ability to see their sales data, all of the products they can buy in easily searchable fields, and the promotions that are available to them, so that they can make the best buying decisions for their businesses.

Of course, the benefits of this move to e-commerce platforms isn’t just for the customers. Distributors can have their sellers focus more on strategic goals. Rather than acting simply as order takers who go to customer locations, they can focus on selling product. Sellers can work as partners with customers, coming up with the right strategic product mixes that enable these customers to sell more high value products, enabling a win-win situation for both the distributor and the customer. As your customers look for more order options, be sure to be ahead of their demands Talk to our sales team to find out how eoMarket can help you.

Route Accounting Solutions

How To Stay Competitive in the Digital Age

Posted on

At eoStar, we have witnessed a shift in the digital commerce space and recognize the need for a competitive e-commerce platform. We understand that you’ve made a promise to your customers to support their growth efforts. This is a hefty promise to keep while managing your own set of challenges; increasing competition, thin margins, and the demand for lower prices.

What solutions are you offering to increase your customers’ sales, improve margins on product sold, shape the shopper experience, and build shopper loyalty while planning for the unexpected?

Understand That Business Practices Are Evolving

A younger generation of shoppers is entering the marketplace, and for these younger buyers who were raised on the internet, e-commerce is now the expectation. Customers want to access product information twenty-four hours a day, seven days a week from anywhere. They need the ability to find items anytime, whether it be after closing time, or when they first enter the office.

Be On the Forefront of Change

You need a business partner to help drive the changes in the industry and help keep you competitive to meet these expectations, rather than someone who merely follows what others have done. At eoStar, we’re listening to your requests and concerns in order to act as a key strategic partner in moving your business forward. With us, you’ll be at the head of progressive developments in e-commerce and distribution.

Put Your Data into Action

Better data means better business.  Our advances in data analytics will help you anticipate your retailers’ needs and identify buying patterns, leading to an increase in customer sales. With eoStar’s business intelligence models, predicting sales and recommended products will be simple for your customers.

The Bottom Line

Before you can successfully establish a competitive advantage, you must first know your customers and what they expect.  The fact is that buying habits have shifted, and you need a partner to help you stay ahead of the curve.  The online shopping experience is not just a standard; it is an expectation. eoStar will help you meet and manage the demands of your customers by helping keep their shelves stocked, all while optimizing spending on trade promotion. Book a demo with one of our sales specialists, here.

Route Accounting Solutions

Add flexibility to simplify ordering with an ecommerce sales tool.

Posted on

In the past, distributors were slow to adopt e-commerce platforms because the existing methods of selling had always worked, with sellers going to customer locations. When distributors did choose to adopt e-commerce platforms, it was largely out of necessity, as a cost- and time-saving measure to avoid having to send sellers out to distant customer locations. The decision to adopt these e-commerce platforms was not strategic, and the platforms themselves were not particularly user-friendly, as they were lacking a lot of the information that customers would want to see and they were often hard to navigate.

Now the expectation from customers is distributors need to offer an e-commerce platform for ordering. Customers want the ability to placing orders when it’s convenient for them and from any location and device. They expect seamless navigation and the ability to see their sales data, all of the products they can buy in easily searchable fields, and the promotions that are available to them, so that they can make the best buying decisions for their businesses.
Of course, the benefits of moving to an to e-commerce platforms isn’t just for the customers. Distributors can have their sellers focus more on strategic goals. Rather than acting simply as order takers who go to customer locations, they can focus on selling product. Sellers can work as partners with customers, coming up with the right strategic product mixes that enable these customers to sell more high value products, enabling a win-win situation for both the distributor and the customer.

eoMarket provides a seamless sales experience for your customers and keeps your sellers free to upsell and recommend products. Customers will love the freedom to order what they need, when they want it, and prepare for events based on their own schedules. With sellers not having to add an additional stop or call, you save time and money and give your sellers the freedom to provide a higher level of service. Be sure to talk with one of our sales experts to discuss eoMarket and how it can benefit you.

Route Accounting Solutions

Three Reasons eoStar Should be Your First Pick

Posted on

In the distribution industry, few decisions are more important than picking the right software. The right software can transform how you relate to your clients, run your warehouses, and use your data. On the other hand, the wrong software can leave you frustrated and dealing with so many issues that you spend more time troubleshooting than growing your business. eoStar is designed to help you avoid those hassles. It’ll help you run your business smoothly and efficiently. Here are a few of the top reasons why. 

eoStar Software Streamlines Business Processes 

In distribution, efficiency makes a big difference. In fact, it’s vital to success. Your software can either hinder your efficiency or help you become more efficient. eoStar software does the latter by streamlining key business processes. 

Warehouse Optimization 

First, eoStar provides warehouse optimization options to help your team stay on track. eoStar is designed to keep your warehouses working as efficiently as possible. With eoStar, you can stay up-to-date on your most important warehouse information, including inventory, space, equipment, and much more. 

eoStar also lets you maximize warehouse efficiency with voice picking options. Many warehouse managers are surprised to learn just how much faster the picking process becomes once they remove the need for clipboards and paper lists. When team members don’t have to look down at a clipboard all the time, they can focus more easily and pick items more quickly. 

This warehouse optimization can also help you reduce costs by preventing item breakage. And because you’ll spend less time dealing with breakage, you can cut back on unnecessary delays. 

Finally, eoStar is proven to improve fulfillment and reconciliation speeds, both of which contribute to overall efficiency. 

Make the Most of Your Data With a Centralized Framework 

When it comes to efficiency, one of the most important factors is knowing how to use your data. When you can read and analyze your data, you can see which areas could use improvement, which areas are doing well, and which areas you might be missing in terms of efficiency. 

eoStar software provides a centralized framework that you can use to analyze your data. Your data will become more organized so that you can take a closer look at it, improve your performance, and increase productivity. As a result, you can increase your profitability, too. 

Simplified Route Accounting 

The right route accounting software can do a lot for your company’s efficiency, and that’s where eoStar comes in. eoStar’s route accounting software can help you stay efficient by keeping your team informed. When everyone is on the same page, you don’t lose any time to miscommunications. 

Furthermore, this route accounting software will let you simplify your routes, which will help you save both time and money. 

Streamline With Mobilization 

Next, eoStar can help you streamline your processes with mobilization. The eoStar mobile app lets you take your information on the go. You can check in with the mobile app no matter where you are, which means that you can reduce delays. 

eoStar Fosters Company Growth 

eoStar also helps business owners who want to see their companies grow. A lot of factors contribute to business growth, and eoStar is designed to help you maximize those factors in your own company. 

Customization Options 

eoStar provides more flexibility than many other software options. Flexibility enhances company growth. Among other things, flexibility means that you won’t outgrow your software. You can make adjustments as needed without having to pause for major overhauls. Since major overhauls can put business on pause, preventing them can help you keep up your company’s momentum. 

Win Over New Customers 

Of course, you can’t grow your company without growing your customer base. eoStar can help you do that. For one thing, your data analysis opportunities will let you get to know your customers better. When you know your customer base, you can find more ways to meet their needs. 

Furthermore, when you reduce breakage, increase accuracy, and create an efficient company, you can increase customer satisfaction. Satisfied clients are loyal clients, and loyal clients help your company grow. 

eoStar Provides a Host of Resources 

Finally, eoStar provides a huge amount of resources in a single package. Instead of using multiple resources to fulfill your business needs, why not choose a single resource that provides everything? eoStar takes care of everything from route accounting to business intelligence. 

Get Started With eoStar 

The transition to a brand-new software can seem daunting, but eoStar is here to make things easier. Want to learn more about what eoStar can do for you? Get in touch with us now to get started. The eoStar team would love to help you make the most of your software.

Route Accounting Solutions

What to Look for in a Route Accounting System

Posted on

Having a route accounting system can make a world of difference in your distribution business. A good system can help you grow your business, keep things flexible, and stay up-to-date on the latest changes. 

Of course, it’s not enough to have just any route accounting system. You’ll want to make sure that you choose the right one. So how do you do that? One thing you should do is take your time and do your research. Instead of rushing into your decision, make sure that your new software has all the features that you need. Second, keep an eye out for these specific traits. They’ll help you keep your routes efficient and effective. 

Sales, Inventory, and Financial Tracking 

First, think about the basics. Your route accounting system should let you track sales, inventory, and financials. This is the bare minimum for any route accounting software. The more your system tracks, the less you have to worry about. 

This tracking is important for a couple of reasons. For one thing, it helps you stay efficient and organized, and it minimizes mistakes. When you stay on top of the details, you can make sure that you’re running your business effectively. 

For another thing, accurate sales, inventory, and financial tracking can take a big weight off of your shoulders. When you know that your tools provide accuracy and up-to-date tracking, you don’t have to make those updates and track those numbers yourself. As a result, you can focus on other things that you may have been putting on the back burner. 

Financial Reporting and Cash Flow Management 

A similar principle applies to financial reporting and cash flow management. Reporting is an important part of running a distribution business. When you have accurate reports, you can notice patterns in your data. Those reports can help you make adjustments as needed to make your business as effective as possible. 

Cash flow management is equally important. Cash flow can become overwhelming if you don’t have the right system to deal with it. However, if your route accounting system helps you manage your cash flow, it can remove some of that stress and allow you to maintain a more balanced focus. 

Sales and Promotion Options 

Your route accounting system should also allow for sales, promotions, and similar discounts. This kind of system requires a lot of flexibility, which is something that not all software options have. 

Still, you’ll want to make sure that your system does have rooms for sales and promotions, because sales and promotions are some of the best ways to gain new clients and grow your business as a result. Sales, seasonal discounts, and two-for-one deals give potential clients the incentive they need to check out your business. Often, when potential new clients are on the fence about a decision, it’s things like promotions that nudge them in the right direction. 

Customization and Flexibility 

Speaking of things that require flexibility, this is a good overall trait to look for in your new route accounting system. In the distribution business, things change all the time. The businesses that adapt and adjust are the businesses that thrive no matter what the market looks like. 

If you want to run a flexible business, then you need tools that allow for flexibility. When it comes to your route accounting system, some options are better than others. As you do your research, ask yourself how certain systems build flexibility into their products. 

When your system has flexibility, you can also rest assured that your system is conforming to your business. Too often, business owners have to adjust their practices to conform to their software, when it should be the other way around. Flexibility will help ensure that you and your company get exactly what you need. 

Simple Reporting 

Next, look for simple and straightforward reporting from your route accounting software system. Reporting matters when making decisions. The results of your reports can make a big difference when determining one decision over another. That means that your reports should be clear, simple, and fast. 

When you look for route accounting software, look specifically at your reporting options. Do these systems make reporting easy? If so, then you may have a solid candidate. 

Your Own Needs and Preferences 

Of course, you’ll have your own specific preferences when choosing a route accounting system, and those preferences aren’t any less important than the items listed above. Decide what you need from your software. What tools and features would serve your business best? Make a list of your company’s route accounting needs, and then look for systems that specifically mention those features. 

Once you choose your perfect route accounting system, you’ll notice a big difference in the way you do business. When a system meets your needs, everything flows smoothly. 

Looking for a route accounting software that features everything listed above? eoStar’s software features all of the above and much more. Get in touch with eoStar today to get started. 

Route Accounting Solutions

How Route Accounting Can Help Your Business Grow

Posted on

Business growth can get tricky, especially when there are so many things that impact the distribution market. Last year, for example, the COVID-19 pandemic did a number on a lot of people’s businesses. Small and medium-sized businesses took the biggest hits. Markets have their ups and downs, so if you want to keep your business growing, it’s important to have the right tools at your fingertips. If you work in distribution, one of the most important tools is route accounting software. 

Route accounting software does a lot more than keep your business organized. It can also help you take your business to new levels. When used correctly, your software can help you gain customers and bolster the customers you already have. Here’s how. 

Gain Insight From Your Data 

Route accounting software can keep track of certain types of data. That data can include things like sales, inventory, cashflow, and a lot more. Basically, if it has anything to do with your routes, then your route accounting software can track it. 

All of that data can help you with business growth if you know how to use it. When you gather and examine your route data, you’ll start to notice patterns in your routes and sales. You’ll see which actions lead to growth and which ones hinder sales. You may even notice connections that you never would have thought of without the help of your software. 

Once you start gaining some insights, you can turn those insights into actions. Make adjustments where necessary. Find ways that you can maximize sales and minimize costs. If these changes become long-term changes, then they can create business growth. 

Make Orders Easy 

A key part of business growth is simplicity. When you simplify your processes, business growth becomes a natural and organic process. Furthermore, the more things you can simplify, the more you can divert your focus to growing your business. 

That’s where route accounting comes in. One of the best things about route accounting software is that it can handle many tasks at once. In addition to data tracking, route software can also help you simplify order loading, keep up with supplier reporting, manage your inventory, and more. In other words, this kind of software makes orders easy. It takes care of the details so that you can grow your business without hassles. 

Route accounting software makes orders easier by taking care of all of the details. When you handle all of these details yourself, you may not realize just how much time you dedicate to them every day. These little things may not always seem like much on the surface, but those minutes add up. However, when all of those tasks become simpler, they free your time and brain space so that you can focus on real growth strategies. 

Have you been putting off a new marketing campaign or another growth strategy because you can’t seem to find the time? See if you can simplify things with the right route accounting software features. The extra time may be just what you need to make your vision come to life. 

Gain Clients With Sales and Promotions 

It’s tough to win new clients without sales and promotions. Buyers always want to minimize their risks, and that means not spending too much money on a product that they’ve never used before. When you offer discounts, you give potential new clients a way to minimize their risk and have more confidence when they buy your product for the first time. 

With the right route accounting software, you can manage sales and promotions to help you gain new clients. As a result, you may see your business grow quickly. 

Get the Flexibility You Need for Business Growth 

Business growth requires flexibility. Running a business at all requires flexibility, and that goes double when you want your business to grow. The COVID-19 pandemic proved this concept. When you run a business, you always have to be ready for the unexpected, and you always need a way to adjust. Business growth can happen in all kinds of circumstances as long as you have the right tools. 

Route accounting software provides the flexibility you need to make growth happen. It lets you adjust your processes as needed so that your business can thrive in any circumstance. 

Choosing the Right Route Accounting Software 

Of course, not every route accounting software is the same. Some provide more features and simplicity than others. When you choose your route accounting software, you’ll want to make sure that it’s the right one. 

For example, eoStar software comes with flexibility, easy ordering, business intelligence, and everything else that distribution businesses need from their route accounting software. If you need a software solution that fits seamlessly with your business, take a look at eoStar. 

Route Accounting Solutions

How to Keep Up With Trends and Beverage Distribution Software

Posted on

When you work with beverage distribution software, you keep a close eye on the market. New companies with strong marketing teams emerge all the time, and old favorites stay strong with different demographics. The beverage market also has a strong seasonal component, with different drinks selling better at different times of year. 

With all these changes, are you using your beverage distribution software to keep up with the trends? Tracking beverage trends, both in your own company and with the market as a whole, can help you stay on top of the market and keep up with demand. 

Business Intelligence and Forecasting for Beverage Distribution Software 

First, consider a beverage distribution software with business intelligence and forecasting capabilities. You can accomplish all kinds of tasks with the right business intelligence software. For instance, you can analyze the value of a potential retailer to decide whether or not you want to pursue that retailer. You can pick the best location sites and make quality placements based on those sites. 

Meanwhile, forecasting software can work with business intelligence software to help you make inventory decisions. You can predict which items you’ll need to restock based on purchasing trends. 

Both forecasting and business intelligence software can help you keep an eye on local beverage trends and trends within your own company. The more information you have in these areas, the better decisions you can make. 

Use Route Accounting Software to Track Data Beyond Your Warehouse 

Beverage distribution software isn’t just for warehousing. You can also find a software with route accounting capabilities. Route accounting lets you track things like sales and inventory in real time. You’ll receive updates as they happen, even beyond the walls of your business. Route accounting also lets you track your sales history, suppliers, and promotions, which is essential to running an effective beverage distribution company. 

Route accounting software, just like business intelligence and forecasting, can show you how certain beverage distribution trends apply to your own company. You’ll gain insight on things like seasonal changes, regional beverage popularity, and more. 

Use Analytics to Track Your Own Data 

Similarly, business analytics can show you whether or not you’re responding to market trends effectively. All businesses produce usable data, but few businesses take advantage of that data. If your beverage distribution software comes with data analytics capabilities, then you can make your data work for you. Additionally, you can hire a data analytics provider to handle your data for you. Some software providers also offer data analytics services. 

What do these services do with this data? They gather it into one place and then turn it into simple, usable insights. For example, they might find that your sales change with certain weather patterns, or they may find that some products appeal to specific age groups. Once you have that information, you can turn it into action. You might adjust your marketing plans, for example, or make changes to your inventory. 

Add Mobility to Your Beverage Distribution Software 

If you add mobility to your beverage distribution software, you can keep up with market trends even when you’re not at the office. Merchandiser software can help you track sales opportunities based on current market trends. You can also use mobile surveys to get better insights into these trends. Mobile software can help you track changes in real time, and it can help you better understand the reasons behind the trends. Once you have those insights, you can measure your company’s performance against these market changes, and you can keep your business flexible so that you always respond appropriately. 

The Right Software Gives You More Time to Pay Attention 

You need the right tools to keep up with beverage distribution trends, but you also need the time to monitor those trends. Finding time isn’t always easy, which is why the best beverage distribution software is the kind of software that helps you save time. The more efficient your software, the more time you’ll have to keep an eye on the beverage market. 

It’s all a matter of finding the right tools. For example, you might use a voice-based workflow to keep your warehouses efficient. This way, you can save time by increasing your pick rate accuracy. You can also use palletization to reduce breakage, which means that you’ll spend less time replacing lost inventory. E-commerce software can help you save time, too, by letting you make quick inventory changes and view orders quickly. 

With the right tools, you can win back some of the time that you didn’t have before, which will let you stay on top of market trends. Having the right beverage distribution software can make a big difference to business owners. The better you understand trends in the beverage market, the more confidence you’ll have in your business decisions. 

Want a software that can help you keep your eye on the market? eoStar is here to help. eoStar software provides several solutions, including the ones listed above, to help business owners keep up with beverage distribution trends. Get in touch with us today for more information. 

Route Accounting Solutions

How Forecasting Software Can Help You

Posted on

As we get further along in the year, consumer behavior will change as do the seasons. Each season tends to create a variety of demands across different sectors as it relates to what consumers are seeking with the new weather. On top of the changing seasons, we are also still dealing with the effects of COVID-19. More people are going to want to experience the outdoors as the weather heads towards summer heat, yet there are still concerns about the effects created from the pandemic. 

Given the two significant factors that may affect the supply chain, forecasting software is necessary for any business and warehouse that wants to continue operations and have a positive profit going into the next quarter. 

Forecasting software can allow an enterprise to plan logistics, finances, and workload for future business activities. This software draws on previous data and results to draw possibilities of future results. The paths that are created can be analyzed by management, and the best or optimal route can be chosen.

Here’s a look at the more detailed aspects and benefits of forecasting software. 

Cost Savings

One of the main benefits of forecasting software is its ability to prevent needless spending or investment. Through gauging proper supply levels, warehouses can avoid spending excessive amounts on inventory that may not meet the same level of demand. This will also save on costs when less space is taken up by inventory that is not moving anywhere. With more space free, the warehouse can use it for other inventory that may have different demand thresholds. 

Forecasting software allows warehouses to create inventory levels that provide the right amount of inventory at the right time. In order for this to happen, the software uses different types of forecasting.

Qualitative and Quantitative Forecasting

Qualitative and quantitative forecasting are two different methods in which forecasting software can help warehouses keep proper inventory levels. 

Qualitative forecasting occurs when there is a lack of raw data. This can be the case when a business is new and may not have months or years of historical data from which to draw upon. It may also be useful as a forecasting tool when significant challenges impact the supply chain; a perfect example is the effect of COVID-19. 

In order to perform qualitative forecasting, data collection is done to discover consumer opinion and sentiment. This forecasting draws upon focus groups, consumer surveys, and market research. The collection of qualitative data allows forecasting software to develop possible demand forecasts based on consumer opinion. 

Quantitative forecasting is the opposite of qualitative forecasting. This technique involves drawing on raw data and numbers to perform inventory forecasting. This approach can be more accurate and precise than qualitative forecasting. However, the challenge it faces is that it cannot incorporate present data from significant events such as COVID-19. Quantitative data will draw on historical numbers to discover trend lines over time that impact with different time periods. 

For example, quantitative data in an established warehouse can determine that X number of sleds are sold at the beginning of the winter season. The software can make a note that throughout however many years the warehouse has been operational, they have never shipped above a certain amount of sleds. The management team can use this quantitative data to determine how many sleds they will have in their inventory for the upcoming winter seasons.

Combined, qualitative and quantitative forecasting can provide substantial insights into the future financial and inventory planning for any warehouse. 

Back-end Optimization

Forecasting software allows warehouses to reduce the amount of manual labor necessary for continuing operations. Determining inventory levels related to supply and demand can become more automated with forecasting software. Increased automation reduces the chance of human error, which is always a possibility when labor is performed manually. 

As a result of reducing the likelihood of error, the management of the supply and production cycle will be more efficient. 

Additionally, with more manual labor being refocused in different areas where automation is not available, work productivity will increase. This will ultimately lead to a more efficient enterprise with fewer errors and increased productivity. 

Customer Satisfaction

Inventory forecasting can improve customer satisfaction because it increases the efficiency and productivity of the warehouse. Customers are less likely to encounter “out of stock” messages when browsing for goods. 

Additionally, good forecasting software can improve response speed and shipping times. Due to the process being more automated and precise, less time will be spent trying to identify which goods are going to be shipped. Instead, the supply will already be present in the warehouse and ready to be shipped.

Forecasting software that draws data from trends and qualitative analysis can also identify the types of goods that may fit into new and exciting trends. If a warehouse can utilize that data to get the newest items that are most appealing, more customers will use that warehouse to get those goods before they are sold out. 

Overall, forecasting software will create improved customer satisfaction because it ultimately improves performance and productivity of the warehouse itself.

Business Planning

Regardless of your business size, it is always important to consider growth potential. Of course, managers will want to meet deadlines and thresholds for the immediate future; however, long-term growth should also be considered. With effective forecasting software, warehouses can gain strategic insights into how they will wisely use their resources. It will also create more accurate data reports involving productivity and efficiency in the warehouse. Managers can use this data to plot out their growth path and to avoid or mitigate any challenges they may face.

Contact eoStar

At eoStar, we have developed a variety of software options to improve warehouse logistics and performance. We have decades of experience and are willing to work with you to develop a customized forecasting software experience. Additionally, our team is on standby to provide continual support after our software is integrated into your logistics systems. Contact us today for a consultation.