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What Do We Need ?
and
When Do We Need it ?

Most inventory control software will tell us WHAT inventory we need to fill orders. We also want to know WHEN we will need it.

Inventory Control gurus call this: time-phased requirements.

EXAMPLE: In the graphic to the left, this company is short 6 Big Boosters.

  • Should the Buyer order (or make) more?
  • How many more?
  • Does the Buyer need to expedite?

From this inventory status screen, we cannot answer these questions. What is missing is the WHEN.

  • WHEN is the promise date to the customer? Two days? Next Week? 30 days from order date?
  • WHEN will we receive more inventory to replenish stock?
  • WHEN should we schedule new Purchase Orders to arrive?

In QuickBooks, for example, it is very cumbersome and manual to determine WHEN we need more inventory. The QuickBooks Auto PO report does not provide automatic calculations, with time-phased demand, to support the buyer. Luckily, inexpensive add-ins are available to extend QuickBooks capabilities. With the right inventory management tools, you can

  • Scan open sales orders.
  • Check existing inventory and items on order.
  • Calculate WHAT you need and WHEN you need it.
  • Automatically creates QuickBooks purchase orders.

Beyond QuickBooks, the right inventory management tools help companies meet customer demand, without overbuying (or over building) inventory.

For questions about tools to better manage inventory and purchase orders in your company, MBSG consultants can help. 818 338-7220.