TeamViewer’s inventory optimization software

Successful inventory optimization involves finding smarter ways to manage inventory levels and increase service efficiency. TeamViewer can help simplify inventory optimization, empowering you to boost visibility, accuracy, and efficiency across your warehouse and supply chain operations.

Illustration showing employees using vision picking in warehousing and logistics

 What is inventory optimization?

No business wants to lose customers due to stock outages. But at the same time, you don’t want too much capital tied up in costly overstock. This is where inventory optimization comes into play for logistics and operations decision-makers: finding ways to position stock levels to meet customer demand at minimal cost to the business.

Demand analysis is an important part of inventory optimization, assessing demand patterns to ensure you have the right amount of inventory available. The best inventory optimization software also equips you to achieve cost reduction, including faster picking and sorting, error reduction, and more efficient use of warehouse space. Inventory optimization solutions such as TeamViewer enable you to improve in all these areas.

How TeamViewer’s AR solution optimizes your inventory management

  • Reduce stock shortages with real-time tracking

    Legacy inventory management systems often do not have the ability to update inventory in real-time. And without up-to-date visibility on precisely what stock you hold, you can easily overestimate current levels. As a result, you delay reordering, leading to unexpected shortages.

    Error-prone warehouse processes can add to this challenge. For example, an inexperienced employee may place an entire batch of items in the wrong basket during replenishment, or a supervisor may enter the wrong figure during a stock audit. Enabling hands-free checks using AR overlays, TeamViewer can help you significantly reduce the likelihood of these errors occurring.

  • Improve workforce efficiency with AR-powered workflows

    Think about what’s involved in a manual stock check. Your employee may need to generate and print a physical list from your system. If the list doesn’t tally with the shelf layout, they have to leaf through it to get the right section as they move from bin to bin before recording each stock level by hand. If stock doesn’t align with inventory records, manual adjustments are required. And if discrepancies exist, there’s often a back-and-forth between warehouse, purchasing, and management teams to reconcile differences.

    Even for the most experienced warehouse operative, form filling takes time. Multiply this across every inventory-related process across your business, adding up to many resources that could probably be used more profitably elsewhere. Through streamlined, paperless workflows, TeamViewer can actively help you regain a significant chunk of this time.

  • Remote assistance

    Poor stock tracking and a failure to implement inventory optimization tools can result in your business ordering excess inventory that does not reflect actual demand. This unsold stock ages, becomes obsolete or deteriorates, leading to waste and financial losses.

    And if processes across your warehouse are inefficient—for instance, if stock is frequently going astray due to error-prone record keeping—you have to factor this in regarding restocking. As a result, businesses with inefficient processes often rely on large emergency stockpiles to avoid shortages. This locks up working capital in stagnant inventory that may not be needed.

  • Scale with confidence using remote management

    If you are an early-stage e-commerce business with just a handful of product lines, the need for inventory optimization services may not be obvious. However, as you grow, you can easily go from ‘just about managing’ to being unable to meet business needs.

    With streamlined processes, you can do more with less, including handling greater volumes of orders and a wider product range while maximizing worker productivity and warehouse space. In this way, inventory optimization helps equip your business to meet whatever ambitions it may have for the future.

Why is inventory optimization important for your business? 

Inventory optimization is crucial for business success as it helps keep operating costs to a minimum while driving up successful order fulfillment rates, ensuring customer satisfaction. What’s more, inventory optimization software contributes to overall supply chain resilience by helping ensure the right products are available in the right place in the chain at the right time.

Meeting customer demands

Inventory optimization ensures stock availability is aligned with what customers want to buy. The result? Higher customer satisfaction levels and increased customer loyalty.

More accurate order fulfillment

If you optimize inventory, you should know precisely what stock you hold at any time. And with streamlined, hands-free processes across your warehouse, you are better equipped to get the right orders out as quickly and efficiently as possible.

 

Significantly reducing costs

Inventory optimization tools help minimize the holding costs associated with carrying too much costs ‘just in case’, while at the same time avoiding the missed revenue opportunities that come from stockouts.

Increasing supply chain resilience

Optimize inventory alongside your ability to predict demand, and you are in a much better position to anticipate seasonal spikes and demand fluctuations and alert your supply chain partners in good time. Inventory optimization tools that enable more accurate logging and real-time tracking of items also help ensure stock is properly distributed across your supply chain.

 

Precise forecasting and planning

Inventory optimization software—including up-to-date inventory logging—can help supply the data you need for informed decision-making, including forecasting, planning and resource allocation. It helps you stay one step ahead of events, and pivot quickly when circumstances change.

Supporting cash flow management

With inventory optimization comes the ability to significantly reduce the emergency stock you need to hold. This can mean a welcome boost to your cash flow position, allowing you to redivert these extra funds to more profitable uses.

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Inventory optimization techniques

Industry-specific inventory optimization

E-commerce and retail

Thanks to the TeamViewer Frontline AR solution, retail workers are equipped to pick, pack, and ship orders faster and more accurately than ever before.

Automated reordering triggers help prevent running out of high-demand products, while TeamViewer’s remote access capabilities enable managers to detect and resolve issues before they translate into stockouts.

Technician working on computers with AR assistance

Industry-specific inventory optimization

Manufacturing

For manufacturers, inventory optimization with the help of TeamViewer can help you increase productivity, reduce waste, and ensure quality at every stage of the supply chain. For example, quality control teams can use AR-assisted remote guidance to inspect raw materials before they enter production.

In contrast, remote access to production and warehouse systems allows managers to troubleshoot material shortages and other issues instantly.

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Industry-specific inventory optimization

Third-party logistics providers

With AR-guided order picking, logistics employees can quickly get familiar with new processes. This means that you can meet their needs if a client changes their specifications—or, for example, requests pre-assembly or other more complex input.

Clients can also use TeamViewer to remotely access their inventory data, helping to ensure accuracy and faster resolution of issues.

Discover how Frontline Pick can empower your business with warehouse efficiency

Learn more about Frontline Pick

Implementing our vision-picking solution in your warehouse is easier than you think.

Achieve efficiency with TeamViewer’s inventory optimization solutions

Frontline Pick

TeamViewer’s AR platform helps you transform all of those slow, error-prone processes that can so easily prevent effective inventory optimization by overlaying digital information onto the real-world environment, allowing employees to interact seamlessly with warehousing data.

 

  • Award-winning AR solution suitable for all inventory-related tasks, including picking, packing, sorting, replenishment, and inventory auditing.
  • Enables more rapid, hands-free work, with relevant information displayed directly in-view via your wearable device of choice.
  • Help eliminate mis-picks and delays, the need for error-prone manual data entry, ensuring correct stock levels, and improving inventory accuracy

TeamViewer Assist AR

With TeamViewer’s ‘see-what-I-see’ AR solution, you are all set to respond rapidly to bottlenecks, investigate inventory discrepancies, and collaborate more effectively than ever with partners across your supply chain. 

 

  • Allow warehouse operatives, managers, logistics partners, and clients to communicate from anywhere with real-time video, chat, 3D annotations, seamless inventory list downloads, and much more.
  • Experts can guide warehouse teams remotely via AR if stock discrepancies, misplacements, or technical issues occur.
  • Centrally-based managers can potentially inspect and verify inventory levels and queries without being on-site.

TeamViewer Remote

TeamViewer’s remote connectivity and remote control solution helps ensure all ‘moving parts’ of your inventory control infrastructure are always on—and working as they should.

 

  • Make an instant connection with any user in any location to resolve technical issues, without having to travel on-site.
  • Remotely view any system across all warehouses, suppliers, and fulfillment centers to ensure synchronized and accurate inventory data.
  • Remotely analyze inventory flow, identify ways to boost order fulfillment speed, and adjust storage strategies for greater efficiency.

Why choose TeamViewer?

  • Increased efficiency

    Give employees the tools to locate, pick, and scan items faster than ever.

  • Cost

    TeamViewer ensures you are better equipped to avoid both overstocking and understocking, avoiding the costs associated with emergency orders and lost sales.

  • Support

    Give employees precisely the information they need to get familiar with new processes, and reach maximum productivity in the shortest possible time.

  • Scability

    Struggling with a wider product range and more orders to fulfill? Helping you create streamlined, automated workflows, TeamViewer ensures you can scale up easily.

  • Flexibility

    Create your own AR-guided workflows to match your precise requirements, with no technical or coding skills needed.

  • Increased accuracy

    Significantly reduce your error rates across all core processes to ensure your inventory records are always accurate.

Frequently asked questions about inventory optimization

Inventory optimization refers to a strategy for reviewing the existing processes across your business and ensuring that stock levels are positioned to meet customer demand while minimizing inventory-related expenses. In short, it’s about maintaining “just the right amount” of inventory.

The best inventory optimization software focuses on equipping you to achieve two main goals. FIrstly, it allows you to capture and analyze data from across your business operations to predict demand more accurately. Secondly, it enables you to automate and streamline inventory-related processes, including, for example, picking, replenishment, and stock audits.

The best inventory optimization tools—TeamViewer included—are focused on helping you solve a wide range of problems associated with inventory management from a single platform. TeamViewer allows you to create streamlined, AR-based workflows for faster, more accurate inventory-related processes. It also makes it possible to connect instantly to any user or device across your supply chain to resolve technical issues and stock-related problems.

We’ve done this before. Now, let us do it for you.