Al-Futtaim Recognizes the Power of Integrating Syncron Inventory and Price Solutions
Clear alignment of inventory and pricing can help companies avoid excess or aged stock while also being able to react quickly to market fluctuations. In this video learn how Al-Futtaim, a global leader in the automotive aftermarket sector, leverages the power of integrated Syncron Inventory and Price solutions to stay one step ahead of trends and leaps and bounds ahead of their competition.Play Video
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One of the benefits of implementing Syncron Price is that it links into our inventory system. Within our inventory system, because we’ve been using it for so long, we’ve been able to identify things like aged stock. We’ve been able to identify when we have excess amounts of stock because of changing demand. What we’ve been able to do within the project is take this data and automatically link this into our pricing system. When we see that we have more stock than is desirable, our pricing solution automatically makes recommendations to either lower the price to get it out or in some cases, we even go below cost in order to do scrapping and liquidation.
Through the implementation of this, we have managed to dramatically decrease the amount of aged stock that we hold within our system. In addition, whenever we implement a pricing strategy, which we would not want to lead to increasing of stock, such as stock liquidation, the price solution automatically updates our inventory system and puts blocks on there and identifies these sales as non- repeatable demand, so that we don’t end up with situations, which we’ve had in the past, where we liquidate our stock below cost and our inventory system reorders it. Now, all of this is fully integrated, which means any actions done by the pricing team automatically gets updated with the inventory team.
The most value that we’ve had come from Syncron Price has been from the autonomous logic that is built into the system. When new products are introduced, we are able to price them immediately. When we have excess and aged stock, we’re able to react immediately, lower that product’s price and to implement that in the market to help our stock position as well.