Inventory IQ by AGR: Your Critical Tool for Smarter Inventory Management

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October 15, 2024
6 min read
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Inventory IQ is designed with you in mind—whether you’re running a small or mid-sized wholesale or retail business, this is the inventory management tool that covers all your essential needs. As the foundational module in AGR’s advanced inventory management system, Inventory IQ equips you with the basics to efficiently manage stock, forecast demand, and streamline ordering. Even if you don’t need all the bells and whistles that come with more complex solutions, Inventory IQ gives you the control and insights you need to run your inventory smoothly and can be implemented in a week or less.

Your core inventory features

Inventory IQ offers all the must-have features to manage your stock with ease. From the moment you log in, the system welcomes you with a dashboard that gives you a clear overview of your inventory health. Whether it’s tracking active stock, monitoring overstock, or identifying items at risk of running out, you’ll have all the key insights at your fingertips.

Is your stock active and selling? Are you holding onto items that haven’t moved in months? Inventory IQ flags this for you, so you know exactly where to focus your time and energy. For businesses dealing with new or seasonal products, you’ll also get alerts on items that need extra attention for a successful launch or promotion. The system doesn’t just dump data on you—it helps you zero in on the items that truly matter to your business.

Inventory IQ even highlights overstock and stockout risks, separating high-value items (your A-class products that drive most of your sales) from low-priority ones. This means you can focus your efforts on the products that make the biggest impact on your bottom line, helping you optimize inventory and reduce waste.

Stay on top of demand with accurate forecasting

One of the standout features of Inventory IQ is its built-in demand forecasting. You don’t need to be a data scientist to use it—Inventory IQ does the heavy lifting for you. It pulls sales data directly from your ERP system and creates forecasts at the SKU level (that’s each item paired with its location). This means you’ll know exactly how each product is performing in each of your stores or warehouses.

The monthly forecasting feature is ideal for businesses with relatively stable demand patterns or longer lead times, like wholesalers. Inventory IQ breaks the year into 12 buckets, offering a seasonally adjusted view of your inventory needs. Each month, the system updates your forecast with the latest sales data, using various forecasting models to select the best fit for your current trends. It’s smart forecasting that adjusts as your business evolves, helping you maintain optimal stock levels without over-ordering.

And if you’re managing fast-moving inventory or products with fluctuating demand, you can always upgrade to more advanced forecasting tools, like AGR’s Planning Pro module, which offers weekly forecasting and greater detail.

Simple, seamless ERP integration

Inventory IQ is all about making your life easier, especially when it comes to tracking stock across multiple locations. Whether you have stores, warehouses, or both, the system integrates seamlessly with your ERP, pulling in data to give you a clear picture of your stock levels, incoming purchase orders, and expected deliveries.

This means you’ll have all the information you need to make smarter decisions, right at your fingertips. You can easily see which items are running low, when new stock is arriving, and how much is on order—all in one place. If you’ve set a safety stock level for key items, Inventory IQ will notify you when it’s time to reorder, helping you avoid stockouts without having to constantly monitor inventory yourself.

The system also lets you create purchase orders directly from the platform. You can filter by vendor, location, or item type, making it easy to reorder stock or transfer items between locations. Need a report on your next order? You can generate that, too, with just a few clicks.

Get insights with custom reports

With Inventory IQ, you have access to powerful reporting tools that help you stay on top of your inventory performance. Whether you want to track sales trends, monitor stock turnover, or identify items at risk of running out, Inventory IQ has you covered.

The system’s reporting features are designed to be flexible, so you can generate reports based on what’s most relevant to your business. You can dig deep into your data, reviewing specific SKUs, vendors, or orders, and even set custom filters to track exactly what matters most to you.

Want to see how a particular product has been performing over the last year? Inventory IQ lets you analyse both past sales and forecasted demand, giving you the insights you need to plan ahead and make data-driven decisions.

Flexibility that grows with you

Even though Inventory IQ is the base module of AGR’s inventory management system, it’s designed to grow with your business. As your needs evolve, you can add more advanced features, like weekly forecasting, automation, or enhanced demand planning through AGR’s additional modules, such as Planning Pro and Order Pro.

This flexibility ensures that Inventory IQ remains a valuable tool as your business scales, allowing you to start simple and expand when you’re ready.

We can set you on the path to smarter inventory management

Inventory IQ by AGR isn’t just another inventory management tool—it’s your partner in running a more efficient, data-driven business. With easy-to-use features, real-time insights, and the ability to integrate seamlessly with your ERP system, it helps you manage your stock more effectively and make smarter, more informed decisions.

Whether you’re looking to reduce excess inventory, avoid stockouts, or simply get a clearer view of your business’s inventory health, Inventory IQ gives you the tools you need to stay ahead. And as your business grows, you can rely on AGR’s advanced modules to support your expansion, ensuring that Inventory IQ remains a key part of your inventory management strategy for years to come.

Get started with Inventory IQ today and take control of your inventory with confidence. Check out the pricing page, or book a demo to learn more.

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