StockRight is a Windows-based software product aimed at the professional inventory manager. Its purpose is to determine the optimal Order Quantity (OQ) and the optimal Re-Order Point (ROP) for each inventory item. Many modern inventory control systems have fields for OQ and ROP, but offer no suggestion as to what these values should be. Many times the inventory manager is left to guessing or using general purpose rules-of-thumb when determining these values. StockRight is the solution to this problem.
If the manager guesses a value for the OQ that is too high, he may risk tying up too much capital in inventory, using precious warehouse space unnecessarily, and exposing the excess inventory to risks such as spoilage, pilferage, or obsolescence. If he guesses an OQ that is too low, he risks having to process far too many re-stocking orders, thus creating too much work for the personnel that handle purchasing, receiving, and inspection. StockRight can select the Order Quantity that is just right for each of your inventory items.
If the manager guesses a value for the ROP that is too high, he will incur a burden of inventory that will NEVER move. If he guesses a value that is too low, then he risks running out of an item before the fresh supply arrives. Running out of an item is absolutely the most expensive thing that can happen in an inventory system. Running out can cause excessive back-order paperwork, a dissatisfied customer, production stoppage and worse.
StockRight uses sophisticated statistical calculation methods that can determine the optimal ROP (which includes a safety stock) for each inventory item. It actually calculates the probable number of stock outages that may be expected, given any ROP. It will even calculate the number of expected stock outages that you should be experiencing, given your current OQ and current ROP! And of course the savings earned by changing from your current OQ and ROP to StockRights optimal OQ and ROP are calculated.
One of the most unique applications of StockRight is its ability to predict the estimated value of a complete inventory. With this capability, you now have the tools to respond when your manager demands "We must reduce inventory from 5 million dollars to 4 million dollars!". StockRight has the tools built-in that will allow you to adjust each and every item in your inventory to accommodate your managers demand. Not only can your grant his wish, you can also document the effects of his demand by informing him of exactly how many additional stock outages he may expect and exactly how many additional orders will have to be processed. (He may want to back off his demand).
StockRight is available is several configurations, one of which is sure to meet your needs.
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