• EfoSmart

    Providing smart solutions for Stock Data Inventory Management and related ICT challenges.

    Inventory Definition

    What is inventory? A complete list of items such as property, goods in stock, or the contents of a building [1]. Inventory control definition may vary from one source to another. SmartBizVentory is one of the best inventions to actualize the goals of inventory planning though not yet known by many.
    Note that there is difference between stock system and stock management system.

    Inventory system features [2]

    Reorder Point

    Should inventory reach a specific threshold, a company's inventory management system can be programmed to tell managers to reorder that product. This helps companies avoid running out of products or tying up too much capital in inventory.

    Asset tracking

    When a product is in a warehouse or store, it can be tracked via its barcode and/or other tracking criteria, such as serial number, lot number or revision number.

    Service management

    Companies that are primarily service-oriented rather than product-oriented can use inventory management software to track the cost of the materials they use to provide services, such as cleaning supplies. This way, they can attach prices to their services that reflect the total cost of performing them.

    Product identification

    Barcodes are often the means whereby data on products and orders are inputted into inventory management software.

    Inventory optimization

    A fully automated demand forecasting and inventory optimization system to attain key inventory optimization metrics such as:
    ·        Reorder point: the number of units that should trigger a replenishment order
    ·        Order quantity: the number of units that should be reordered, based on the reorder point, stock on hand and stock on order
    ·        Lead demand: the number of units that will be sold during the lead time
    ·        Stock cover: the number of days left before a stockout if no reorder is made
    ·        Accuracy: the expected accuracy of the forecasts


    SmartBizVentory can meet these demands in a simple and unique way. It works on PCs, Mac and mobile devices.

    You can freely download this program for use and training from here

    1.      OxfordDictionary

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