A supply chain management software developer and services company has introduced a tool to better manage inventory.
Supply Chain Consultants, Wilmington, Del., touts its Inventory Analyzer as a scientific way to identify pockets of non-productive inventory so businesses can lower expenses while maintaining business goals.
Because of the slow economy, products can back up in the supply chain. The rapidly increasing inventory represents large sums of capital tied to an idle asset, company officials said.
“Pressures to reduce working capital have never been greater,” said Sujit Singh, chief operating officer, in a news release. “The need to generate cash is more urgent than ever before. Now, for the first time, there is a painless way to identify not only what inventories can be cut, but also exactly how many dollars can be reduced.”
The system also allows users to identify areas where “inventory right-sizing” indicates the need to increase certain stocks or rebalance their location, Singh said in the release.
He said the tool can work with any large manufacturing company.
Supply Chain Consultants works with Sunsweet Growers Inc., Yuba City, Calif., as well as companies in other industries such as Hexion Chemicals, Terra Industries and Invista.