The Supply Chain Now team was pleased to continue our “Stand Up & Sound Off” series, where we facilitate the sometimes difficult conversations that must be had in order for things to change. One other driving factor in this particular series is to create a global forum where our audience can actively participate & share their thoughts, insights & perspective. On July 15th, we were pleased to feature several guest panelists that shared their insights and perspective on some of the challenges that we face, both here in the U.S. and across the international community. As we all approach these challenges from different angles & from different levels of understanding, and as we work to solve these problems together – – it’s important to continue the dialogue and gain insights from others. Our primary objective with this event is to do just that: serve as facilitators for helpful dialogue and discourse.

ERPs are pivotal in streamlining operations; however, not all ERP solutions provide adequate inventory optimization functionality. SMBs need functionality that provides inventory visibility, automated processes to reduce excess stock and avoid stockouts, precise forecasting capabilities, and predictive analytics to minimize supply and demand risks. Customizing your ERP can lead to expensive challenges in the long term, especially when performing automatic upgrades. Consider using best-in-breed inventory solutions from Independent Software Vendors (ISVs) to enhance ERP functionality without unnecessary complexity, ensuring long-term adaptability and efficiency To balance inventory and costs, businesses need to understand what tools are fit for purpose to help achieve inventory optimization, financial success, and market competitiveness.   From this discussion, the audience will have a better understanding of: – The functionality of ERPs – How to assess if ERPs deliver on inventory goals and capabilities – Identify missing gaps for better inventory planning and optimization – What key features to prioritize when selecting an inventory add-on solution – Rearview vs front window when it comes to forecasting and risk in your ERP – How to measure ROI – how best-of-breed solutions like Netstock show ROI when integrated with an ERP