Forecasting And Inventory Management For An Erp System

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Forecasting and Inventory Management One of the primary reasons the company is deploying an ERP system is its desire to replace manual processes in its inventory management. Typically, as a company grows, the data that is being produced becomes more than what a manual system is equipped to handle and a gap is usually created. Consequently, without visibility into data concerning critical operations components such as sales, forecasting and inventory, our procurement professionals are having a difficult time knowing what and when to procure. To address this kind of situation, the solution suggested in the players manual is to maintain production levels and requirements on-hand. This solution will help in reducing stockpiling and instead…show more content…
The system will improve productivity by helping users and management access all their relevant accounts and transaction details in real time and this would further help them in making informed decisions for profitable operations. 4. Capacity and Production Expansion. Another positive outcome of the lessons learnt from the BPG is the realization of the need to increase the number of inventory being carried by the company. With the proposed forecasting capability of our system, management is currently considering expansion by adding two more stores to the chain. Also construction of a local processing plant is being considered to handle local demand, so as to reduce reliance on importation. 5. Skills and capability improvement: By mirroring some learning methodologies and outcomes of the BPG game, my hope is to incorporate some aspects of the games manual into the training module of our ERP system. This is in a bid to allow all users develop skills and capabilities at all levels of the organization. It is my belief that the results and competencies realized will greatly drive improved business results. 6. Cost Savings and risk elimination: Experiences from playing the game seriously harps on
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