Introducing Syren’s intelligent queuing and unified data platform for SLOB inventory management. Effortlessly automate processes, provide curated forecasts, and optimize stock keeping unit (SKU) rationalization, demand management, and supplier collaboration. Mitigate risk and get moving with Syren’s solution.
Leverage It Now!Implementing effective inventory management practices leads to actively managing SLOB inventory. Businesses can minimize the negative impact on profitability and operational efficiency.
Inventory comprises a significant portion of working capital and generates additional costs, including warehouse storage, maintenance, and insurance.
These carrying costs can affect profitability and diminish an enterprise's capacity to invest in more lucrative revenue-generating areas.
Slow-moving objects occupy valuable space in the warehouse, which could otherwise be utilized for faster-moving inventory.
Limited storage in warehouses can result in inefficient operations, making it challenging to locate items and potentially causing delays in order fulfillment.
Forecasting demand for slow-moving items poses complexity due to their unpredictable and sporadic nature.
The challenge of accurately predicting future demand can result in overstocking or understocking situations.
Obsolete products bear the risk of losing value. Technological advancements, customer preferences, and market shifts can render inventory worthless.
Managing this risk necessitates continuously monitoring market trends and making proactive decisions.
Slow-moving products can linger in the warehouse for extended periods, exposing them to the risk of obsolescence and potentially lowering inventory turnover.
These extended holding times increase carrying costs and tie up working capital, thereby restricting an enterprise's liquidity.
The complexity lies in deciding on the appropriate sales and markdown strategies for SLOB products.
Stimulating demand may require offering promotional discounts, and striking the right balance between revenue generation and margins is crucial.
To manage SLOB inventory, you need to collaborate with supply chain stakeholders.
Suppliers impose minimum order quantities and lead times that are unsuitable for slow-moving inventory. Balancing supplier constraints with inventory management is a challenging task.
Classifying items helps us prioritize inventory management efforts. SLOBs often fall into a specific category, where Syren helps enterprises adopt specific mitigation strategies such as liquidation, discontinuation, or targeted promotional campaigns.
Syren leverages custom-developed algorithms and statistical models to forecast customer demand, identifying the likelihood of slow-moving or obsolete inventory.
Syren's finance and planning dashboard provides meaningful real-time insights into SLOB inventory, analyzing demand patterns, and supporting informed decision-making to optimize inventory levels and mitigate financial risks.
Syren analyzes inputs from various sources to generate key indicators and metrics that contribute to SLOB, such as inventory, demand, and material requirement planning.
A unified platform aggregates and processes data, reducing the dependency on multiple management systems.
Syren possesses significant expertise in identifying slow-moving and obsolete products within the inventory, gained from working with renowned companies.
Our solution empowers enterprises to identify SLOB efficiently and cost-effectively. This enables an organization to run a healthy and agile supply chain management system.
Syren's enterprise utilizes in-house prediction models, ready-made templates, and a robust data platform to support supply chain solutions. This enables the enterprise to make better predictions and forecasts.
Our comprehensive technology, combined with our expertise in supply chain domain consulting, empowers an organization to achieve superior performance in these areas.
With Syren’s proprietary solutions, slow-moving inventory can be predicted, and their patterns established.
This strategy will account for costs being ascertained, enterprises can maintain liquidity, optimize warehouse storage, and serve customers better with their products in the long run.
Syren's experts help you streamline the supply chain process with its pre-made solutions.
Syren Cloud has helped clients to reengineer core IT products, build end-to-end data management platforms, decision support systems or transform entire digital operating systems. Here’s a short selection of our clients who absolutely adore us.
