Inventory

Inventory exists intentionally for two main reasons: anticipation of future sales of the same product; and availability of a product to exploit economies of scale while reducing costs while at the same time increasing demand from the end consumer by having product to them as soon as they want it. Inventory, however, does not exist as just the finished goods; it exists throughout the supply chain in multiple forms from raw materials to work-in-process to finished goods. These distinct types of inventory exist at different locations throughout the supply chain as well: vendor, warehouse, distributor and shop floor.

Because so many variations of inventory components, this is a very delicate process to manage. Competitive Advantage and market share are measured continuously by management, and it is the company’s business strategy which in turn dictates what types of inventory are held and through which means inventory is produced and delivered to the end consumer. The balance that managers face when following a strategy plan is between responsiveness and efficiency.

BYTE's Inventory Management Solutions provides complimentary packages to different business models and their preferred strategies. Within these solutions there are built-in reporting and information tools assisting managers in analyzing inventory levels to make the best business decision.

The processes through which our solutions are integrated throughout the total Supply Chain Solutions we offer, managers know in advance before being confronted with negative inventory or missing an expected ship date.

These solutions can be integrated through web-enabled solutions so off-site managers know in real-time efficiency levels, on-hand inventory, inventory in process and finished goods inventory. We also provide our clients with Web Milestone updating tools so vendors and suppliers may update progress and communicate milestone success or failure instantly. Finally, our Inventory Solutions provide future inventory levels based on possible in-coming orders. All these tools help managers to be able to continuously keep a better balance between responsiveness and efficiencies.