Ideally when picking inventory, inventory obsolescence and expiry costs need to be considered and certain norms need to be abided by for optimization of inventory, not just from a holding perspective, but in order to minimize inventory loss while in stock or transit.
From what's in stock and its pick-up location, rule based picking through the eXchange helps shed perspective on the order, in a multi stocking location environment, where higher weightage is paid to lowest freight cost. Hence the preferred location is always the one closet to the customer, and in case expiry isn't an issue, FIFO is applied, however when expiry is an issue the criteria changes, due to a limited shelf life and FEFO is applied. Expiry of the goods is a crucial criterion and goods require allocation in a manner that allows timely dispatch even if it means incurring a higher freight cost.
The eXchange has an added benefactor that helps integral decision makers, override set configurations, in case of certain order emergencies. Though a predominant framework is consistently running, override discretions are always kept open for businesses to correspond to customer needs.
The eXchange offers:
- Real -time perspective on inventory stock and location
- Configuration of FIFO and FEFO dispatch possibilities
- Predominant framework with an override discretion
- Traceability of the inventory dispatch
Incorporate multiple complex scenarios to suit real life business transactions, in a multi-location distribution network, and make capable choices at a transactional level. The eXchange helps configure an algorithm that applies FEFO only when the expiry of the chosen inventory is below X months and otherwise applies the closest location for distribution and eventual dispatch of inventory.
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