The Inventory Mentor

Aug 12, 2016

Your inventory spreadsheet is outdated

Your inventory spreadsheet is outdated

One of the daily can’t-miss shows in American media is Marketplace. It’s an absolute staple for both macro and micro analysis of the current financial and business climate, thanks in part to its likeable host, Kai Ryssdal -- who has a great name, by the way! Many of you are surely dedicated listeners as well.

An episode from last week opened with a segment that caught our ears because it called out our favorite hobbyhorse - spreadsheets.

The piece, from reporter Gigi Douban, discussed dwindling worker productivity in America. Decades ago, the workplace saw a productivity revolution from a variety of tools and tech that are now retrograde, and businesses are struggling to move beyond their dated tech solutions.

Douban reports, “Love it or hate it, the spreadsheet is one of those things that changed the way companies did business.”

But that important change happened in the 90s and 00s. Has the technology that runs Excel and other spreadsheet apps hit a ceiling?

In some critical applications, we at NETSTOCK believe it has.

There are now inexpensive and purpose-specific tools available, often deployed in the cloud, and they represent the next generation of tools that can again boost productivity.

As you know, our area of specialty is what we like to call “Inventory Optimization.” We recently penned a series of blog posts detailing the many pitfalls of using a spreadsheet to manage Inventory Replenishment tasks in inventory-based businesses. We’ve also presented that argument in the form of a webinar multiple times.

It is quite clear to us that it’s nearly impossible to design a spreadsheet to aggregate all of the data required to properly forecast demand, assess risk factors to calculate safety stock, and produce optimal purchase orders. Only an application designed for that specific purpose will fit the bill – a true Inventory Management System.

And that is what we have dedicated our company to producing: a cloud-delivered SaaS application for the middle market firm that is a slave to their “masterxxxx.xls” inventory spreadsheet.

This is why we believe that when it comes to Inventory Optimization, it’s time to ditch the spreadsheets. Moving beyond the tools of a prior era will provide a competitive advantage to businesses willing to integrate newer tech solutions. We think you'll agree, and we suggest you take a moment to learn more about our inventory replenishment app.

Written by Barry Kukkuk

Barry comes from a systems architect and application development background. He started his career as the co-founder and chief developer for Icon Retail Management, a full-fledged retail management system that integrated with mainstream ERP. Barry later conceptualized and developed Inventory Optimiza for Barloworld Logistics and provided technical support for the application. It was here where Barry’s passion for Inventory Management solutions began and the industry where he would later return. Barry went on to start his own business in 2008, where he was an avid user of cloud-based apps and would only use online solutions for his business. In 2010 Barry began his journey with NETSTOCK. His enthusiasm for Inventory Management and his strong belief in “all things Cloud” collided, and we saw the release of the Inventory Management solution - NETSTOCK. Barry is the CTO at NETSTOCK, where he is responsible for all customer-facing technologies and systems that keep thousands of NETSTOCK customer instances working correctly.

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