Name: StockWise
Price: 49 USD
Author: Retigence Technologies

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StockWise, developed by Retigence Technologies, is a real-time analytics app that aims to assist businesses in accurately predicting and optimizing their inventory stock levels. According to the vendor, StockWise leverages SAP HANA to handle the complexity and scale of supply chain volatility. The product is designed to help businesses of all sizes increase sales, maximize profit, minimize stockouts, and reduce slow or dead stock. Supply chain managers, inventory managers, retailers, hospitals and healthcare facilities, as well as manufacturing companies, are among the target users who can benefit from the features and insights offered by StockWise.

## Key Features

**Real-time inventory analytics**: According to the vendor, StockWise provides businesses with real-time analytics to accurately predict and optimize their inventory stock levels. This feature allows businesses to make data-driven decisions for effective inventory management.

**Inventory reduction**: StockWise aims to assist businesses in reducing their inventory levels by accurately predicting what, when, and how much stock should be reduced or replenished. The vendor claims that this can result in cost savings and improved operational efficiency.

**Sales loss reduction**: By optimizing inventory levels, StockWise aims to minimize sales loss due to stockouts. According to the vendor, this feature ensures that the right quantity of stock is available to meet customer demand, potentially leading to increased customer satisfaction and revenue.

**Working capital optimization**: The vendor states that StockWise helps businesses optimize their working capital needs by reducing excess inventory and maximizing the efficient use of capital. This feature is said to result in improved cash flow and financial stability.

**Staff scheduling**: StockWise includes DutyRota, an integrated system for nurse and staff scheduling in hospitals. The vendor claims that DutyRota balances workload across shifts, considers employee preferences, and compliance guidelines to optimize resource utilization and reduce overtime. This feature is intended to lead to cost savings and higher productivity.

**Attendance regularization**: According to the vendor, DutyRota takes care of attendance and leave management, allowing easy regularization of attendance and leave for staff in hospitals. This feature streamlines administrative processes and ensures accurate payroll calculations.

**Cost management**: StockWise includes hospCost, a feature that aims to help hospitals manage costs and achieve sustainable profitability and growth. The vendor states that hospCost focuses on appropriate pricing of services and optimal capacity utilization to lower costs while maintaining quality care. This feature is intended to improve financial performance.

**Patient wait time reduction**: StockWise includes OT Scheduler, a scheduling software for assigning operation theatre resources in hospitals. The vendor claims that OT Scheduler helps reduce patient wait time and increase operational efficiency. This feature is said to contribute to improved patient care and satisfaction.

**Machine utilization**: StockWise includes Machine Scheduler, a scheduling software for assigning specific time slots to patients for MRI, CT, and ultrasound machines. According to the vendor, this feature allows flexibility in choosing time slots, reducing waiting time for patients and increasing machine utilization. This can potentially improve resource efficiency and patient experience.

**Inventory accuracy**: StockWise includes Perpetual Inventory, a real-time analytics app that aims to improve inventory accuracy and reduce pilferage. The vendor states that Perpetual Inventory enables managers to plan and schedule physical inventory counts, providing variance analysis and identifying process gaps. This feature is intended to improve inventory management practices and reduce errors.

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StockWise

Inventory management systems are built to handle every stage of the inventory process lifecycle. There are several essential components to most inventory management solutions, starting with order entry capabilities to handle purchase automation. Another standard feature: inventory control and warehouse management to track products and manage workflows through warehouse management. Inventory management systems also typically include distribution capabilities for supply chain management. Fully-featured inventory management systems may also include integrations with customer lifecycle service management, enterprise resource planning software, and robust financial analysis and insights.

Inventory Management

Retigence Technologies

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Serial number and batch tracking

Track individual items via serial number or batches of items made or purchased at the same time in addition to total stock of item types.

Barcode scanning

The software offers UPC creation and scanning capabilities or integrations for tracking inventory.

Automation rules

Rules can be established to automate reordering items, applying tags to organize inventory, creating production orders, shipping items via specific carriers or methods, and more.

Reporting and analytics

Reports about historic and current inventory and order trends are available.

Fulfillment

When orders are received, pick orders are sent to the ideal location and fulfillment status can be tracked.

Backorder management

Backorders are prioritized and fulfilled as new stock arrives.

Returns management

Returns are processed and accounted for among orders and inventory.

Bill of materials management

The software can create and manage BOMs based on orders.

Item kitting

Items can be bundled and sold together in a kit, and the software will automate the necessary tracking and fulfillment steps to manage each individual item.

Invoices for orders can be created and sent, and invoices from suppliers can be managed.

Forecasting

The software predicts future inventory and order trends, and may offer reordering and production suggestions based on these predictions.

Accounting integration

The software integrates with accounting software for more comprehensive bookkeeping.

Point of sale integration

The software integrates with a point of sale system for payment processing.

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StockWise

Overview

What is StockWise?