Discover new features that allow you to select one or two dimensions, out of six possible ABC dimensions, and adjust your safety stock accordingly.
ABC classification systems are widely used by businesses to streamline the management of inventories consisting of large numbers of distinct items. It enables you to categorize your inventory and identify high-value, fast-moving items that have the biggest impact on your bottom line and customer satisfaction.
It is a key input for setting up your inventory strategy and helps prioritize efforts when managing thousands of SKU’s. In the AGR system, the ABC classification and subsequent service level targets are now in the hands of the user. You can set, adjust, and iterate service levels, for groups of items in accordance with their importance and impact on holding cost.
Furthermore, we have translated the ABC classification into importance levels ranging from high to low and visualized these in the item card, giving operational buyers better insight into each SKU’s importance and the parameters behind the ranking.
Last but not least, the AGR system now calculates, in both Items and Reports, ABC levels on all six dimensions: revenue, sold quantity, profit, sales lines (pick), cost price, and cost of goods sold, simply for your information and cross-analysis. The ABC classification is after all a management tool that helps us prioritize our work and efforts.
Click here to watch the recordings from our live webinar: Honing in on Your ABC Analysis, where Elva Sif Ingólfsdóttir, Supply Chain Consultant at AGR Dynamics, demos the new features in the system. Discover other exciting features in the new version, like: Order Exceptions and Inventory Insights.
If you wish to upgrade to the new AGR v6.3, please contact your consultant. If you want to learn more about how the AGR System can help optimize your inventory and improve efficiency, please fill out the form below.