Netstock

I use Netstock for purchase orders for my head office and branches. Using opportunities AI has allowed me to avoid stock outs, get orders sent sooner than later to account for standard lead time.

Netstock is a fantastic tool for us in managing our inventory. Being able to identify potential stockouts and surplus orders at a glance is very powerful for our business. In addition, forecasting has been optimized, becoming more efficient and accurate.

As our company grew and had more buyers managing more and more items, most of them very seasonal, we had much more difficulty keeping an optimized inventory using traditional methods like Min/Max levels and spreadsheets. We eventually had more and more overstocked items and stock outs, and could not keep up with the seasonal trends using "manual" calculations and updates. Netstock has helped us tremendously with its item classification matrix, forecast engine and easy to use interface to keep inventory issues under control as well as streamline the entire purchasing and inventory management process.

It allows you to react to any unforeseen event and adjust processes or activities to ensure compliance with the service levels offered.

Netstock allows us to make better inventory decision, simply put we use Netstock to have the right product in the right location at the right time. The daily dynamic calculations considers our daily sales, promotions & future demands providing our Hagen team with a more accurate over view of the health of our inventory. Our teams have become more strategic in their decision making.

Our global purchasing offices in Germany, UK, Germany & Canada are aligned utilizing a single platform "Netstock".

We used Netstock to show how even though you may feel as if you do not have a lot of inventory on hand you sometimes are actually very overstocked. It brings to light how much money/cash flow is tied up in this inventory. It also helped a lot in dead stock inventory research.

The advanced data analytics in Netstock helps us to manage our stockholding, determining optimal order levels and classification of our stock giving us total control of our inventory. Netstock helps our replenishment process through demand forecasting. thereby reducing processing time to order. By analysing the stock movement and stock classifiaction data it helps us to determine critical stock items, obsolete as well as slow moving stock. With one click on an inventory item you have full details regarding a product making the system so informative and user friendly.

Good tool at a high level with dashboards and at the item level with forecasting, ordering, etc.

Use for forecasting customer demand and recommended ordering for inventory needed to meet forecasted demand.

We were unable to forecast accurately which caused us issues with both excess stock and the creation of unnecessary back orders. After months of demos on other applications we decided that Netstock was the solution for us and we haven't looked back since, the flexibility it gives us when creating purchase orders is perfect for us to monitor our stock holding value and we particularly like the supplier performance module to track our poor-performing suppliers so we can review and eliminate any extended lead times to avoid the build-up of backorders. We are also able to develop our supplier relationships and understand their frustrations so we can make the necessary adjustments to our ordering frequency without presenting a risk to the business which is invaluable given the amount of change that has happened over the last few years.

We have multiple locations and hundreds of SKUs. Netstock helps us know what we have where and when we need to order more. Prior to COVID, through the use of Netstock we were able to reduce inventory by about 20%. During COVID, Netstock gave us the visibility we needed to manage a tight supply chain and not run out of critical items.

We use Netstock to ensure we don't have any stock-outs for our busy e-commerce stores. It has not only helped reduce stock outs but has also ensured we don't hold surplus stock of slow moving products. In addition, it allows us to advise customers when stock is due for any product that is on backorder.