Inventory Replenishment Reinvented in STORIS Release 10.5
Furniture World News Desk on
4/12/2021
Having the right inventory available at the right time is the hallmark of successful merchandising but is a particular challenge given current market conditions. STORIS introduces its all-new Comprehensive Replenishment Tool. This interactive tool provides a real-time view of a retailer’s supply so they have the data to purchase the optimal inventory quantities needed to meet demand while preserving open-to-buy dollars.
Comprehensive Replenishment is just one of 30 new features in STORIS’ latest Release 10.5, available to its partners as part of their complimentary upgrade program. STORIS partners can schedule their upgrades to 10.5 which will begin in late April.
Comprehensive Replenishment uses a retailer’s true supply as its foundation for making recommendations. This includes on-hand quantities, incoming Purchase Orders, and transfers to the related purchasing location. Two additional replenishment strategies can also be run independently in this new user interface. Stock Level Replenishment uses the desired minimum or safety stock levels for each product as guidelines. Allocated Order Replenishment looks at backorder needs and generates reserved Purchase Orders to fulfill specific Sales Order requirements.
Buyers have everything they need for purchasing precision at their fingertips. This flexible tool enables the adjustment of quantities up or down to reflect the buyer’s own intel when needed. Buyers can even set pre- defined settings for the vendors and categories that they manage to automatically run these Replenishment types as scheduled processes.
STORIS’ Product Management Lead, Fiona Richardson noted, “STORIS’ Comprehensive Replenishment Tool provides an intelligent process to utilize all the data in the STORIS system to help merchandisers order exactly what they need when they need it. By using this tool, retailers can avoid both under and over buying for precise use of their resources.”
Beiter’s Home Center beta tested the new release. Their IT Manager, David Woodley commented on the experience, “The redesign of STORIS’ Replenishment Tool delivers a fresh User Interface while adding valuable new features. The new Comprehensive approach to replenishment provides relevant data for decision making. Having the ability to adjust the actual product quantities before finalizing the Purchase Order provides precise control. It has been an exciting experience to be working with STORIS on the new redesign.”
Reinvented Replenishment is not all that Release 10.5 delivers. Another timely new feature allows retailers to define handling fees in a delivery charge table. The appropriate fees will be calculated into the total delivery charge based on the handling method chosen such as white glove vs. curbside/threshold.
The final enhancement highlighted here enables retailers to delete a customer’s Personal Identifying Information or PII in accordance with the California Consumer Privacy Act or CCPA.
If a customer requests the removal of their PII and the retailer has validated that they do not need the data for a valid business purpose, the retailer can easily delete the PII from STORIS. The customer will be anonymized, and non-personal business records will remain in the system for accurate accounting.
STORIS’ Release 10.5 will be available in late April. You can schedule your upgrade to 10.5 today. A deep-dive into all of its 30 new features is available to STORIS partners in their latest Enhancement Guide on the STORIS Client Portal.
For more information, visit STORIS.com to Request a Demo or call 973-397-5732.
About STORIS: Founded in 1989, STORIS continues to be the leading provider of Retail Software Solutions and Services to the home furnishings industry. Over 450 clients utilize STORIS’ Unified Commerce Solution, which includes point of sale, eCommerce, mobile POS, CXM, inventory management, merchandising, business intelligence, kiosk, supply chain management, accounting, and more.