The benefits of automated BOM inventory management
We hate to be the bearers of bad news, but Excels are part of life, and you can’t get rid of them completely. However, in the age of technology, digitalization is your best friend, so why not allow it to take over some of the grueling tasks related to BOM inventory management?
- Accurate forecasts and ordering
An inventory management software like Katana can automate many tasks related to BOM tracking, ensuring that your data is up to date and eliminating human error. Such software can track, analyze, and interpret sales data and inventory numbers to forecast demand and ensure that everything on your BOM list is in stock in the right quantities.
Your staff won’t have to waste valuable time working with spreadsheets to calculate forecasts, freeing them up for other, more important tasks related to inventory management.
At the same time, automated BOM inventory management will give your staff the power of data. Sure, it sounds dramatic, but it’s true. Having access to accurate and real-time inventory data, sales data, forecasts, and consumer behavior data will enable you and your employees to make informed decisions that can streamline processes and boost profits.
Keeping an accurate BOM list helps you have a clear idea of the materials you need, the amount you need, and when you need it, based on sales and demand forecasting. This way, you’ll minimize the risk of stockouts and ensure that you are able to deliver your orders in a timely manner and keep customers satisfied.
If sustainability is one of your main concerns, an automated BOM can help you run a lean production process and eliminate waste by preventing issues like overstocking or unsold inventory.
By keeping an accurate and up-to-date BOM, you can avoid production errors and optimize stock levels to ensure you find the right balance between demand and supply.