How SAP S/4 Hana Simplifies Inventory Management

 One of the major problems that wholesalers and retailers face today is inventory management. As the supply chain is becoming more complex around the globe, with new players entering the market and new trade routes emerging every day, businesses want to tap into the new markets and capture larger market shares.

However, in order to meet the demand, they have to produce and store a large volume of inventory, which, if mishandled or neglected, can lead to huge losses for the organization. Today inventory management has become a more vital business activity than ever before. Therefore, manually managing inventory can be a Himalayan blunder. Instead, intelligent ERPs like SAP S/4 HANA Cloud and sap business one hana can come to the rescue and simplify inventory management.

SAP S/4 HANA Cloud is popular for its in-memory columnar functionality. Equipped with important technical fields, it stores all previous data and adds value to the inventory management system. Furthermore, it is an intelligent ERP with modern technical features such as artificial intelligence, predictive analytics, and more that help monitor real-time data on sales, cost, and day-to-day operations. There are umpteenth possibilities one can enjoy with SAP S/4 HANA Cloud.

SAP S/4 HANA Cloud solves three problems in the case of inventory management. They are:

1. Poor inventory planning: A lot of times, the problems of wastage, understocking, and overstocking arise due to poor inventory planning. The stock levels were not checked properly, so either more or fewer items were produced or ordered. SAP S/4 HANA Cloud, an intelligent ERP, lets you leverage its flexible architecture and implement different inventory management strategies within the system. The strategies, along with the SAP S/4 HANA Cloud ERP, enable your organization to effectively manage the inventory.

2. Faulty predictions: There are different times during the year when businesses have to predict sales and prepare the stocks, especially during festivities. Such predictions are usually made by studying past and current trends. However, man-made predictions can be erroneous. The Analytics tool of SAP S/4 HANA Cloud gives access to real-time data that lets you study the current trends more accurately. Additionally, an intelligent ERP such as SAP S/4 HANA Cloud is powered by machine learning that makes the prediction more accurate. It can also process previous data and make proper predictions.

3. Inadequate strategy implementation and operation: Although the strategies are laid down, they are not implemented to their full potential, and daily operations suffer. Through Fiori, an intuitive interface of SAP S/4 HANA, one can manage daily operations and handle returns and refunds. Additionally, data analytics technologies and techniques can be widely used for inventory management that enables the organization to make informed decisions.

Usually, these are three major setbacks wholesalers and retailers face during efficient inventory management. However, integrating SAP S/4 HANA Cloud into their daily processes simplifies inventory management.

How does using SAP S/4 Hana benefit you and your customers?

● An intelligent ERP like SAP S/4 HANA Cloud can leverage predictive analytics for accurate demand forecasting and proper inventory planning, you will not suffer any stock wastage or stock outage situations, therefore reducing yearly losses.

● SAP S/4 HANA Cloud’s immaculate predictions always allow you to stay prepared so you can serve your customers at the right time with the right product.

● Once you establish yourself as a reliable retailer in the market and create a loyal customer base, you can easily cut through the competition and stay ahead in the game.

● Your production and manufacturing team also becomes more efficient, and you can save time and money on raw materials.

Inventory management made easy with UBS:

If you are struggling to manage your inventory even after reading this article, then it is our turn to step in and solve it. Proudly holding the position of sap business one partner, Uneecops has worked with several brands from different industries and assisted them in implementing SAP S/4 HANA Cloud and streamlining their warehouse and inventory management. Get in touch with us today to book a demo and see our SAP experts in action.

Source URL - https://medium.com/@uneecops.solution/how-sap-s-4-hana-simplifies-inventory-management-e535a524e264