Novobi Smart Inventory
Inventory optimization driven by artificial intelligence for fast-growing businesses
Artificial Intelligence for your business
Novobi’s AI engine streamlines the time consuming tasks of data preprocessing and statistical analysis, delivering continuous recommendations and adaptation to inventory optimization.
Leverage the power of data science in your business quickly and easily! Our AI engine helps you make the best decisions for your inventory in an easy-to-navigate platform.
Real time monitoring and alerting for under stock and over stock risks. Novobi’s Smart Inventory continuously monitors inventory levels, applies intelligence to draw the right conclusions, and delivers actionable reports and alerts to the right people.
Optimize reorder quantities with control parameters and overrides. Significantly reduce user time and effort as well as uncertainty in maintaining reorder points for thousands of products.
Plan ahead in your purchasing processes with intelligent recommendations. Create bulk purchase plans and analyze performance across multiple products, warehouses, and vendors for automated quantity and vendor recommendations.
Real time monitoring and alerting for under stock and over stock risks.
Inventory Status & Real Time Stock Dashboard
With multiple KPIs for inventory performance, including stock age, heavy stocks, total inventory value, and more, you can view a snapshot of your inventory operations in a user-friendly dashboard.
Under and Over Stock Analysis
Automatically categorize your inventory into four groups:
Products with high over stock risk
Products with high under stock risk
Products near reorder points
Products within proper levels
Plus, continuous monitoring ensures that you can set up real time alerts and make necessary adjustments as needed.
View a summary and to-do list of delivery orders to ship to customers, orders to receive from vendors, and returns orders from either customers or vendors in one report.
Analyze your return trends with an overview of total sales return orders by service level. Make better decisions about your sales and inventory practices with insightful return data.
Product Variant Analysis
View a summary of past demand for every product as well as forecasted demand up to 6 months in the future.
Optimize reorder quantities with control parameters and overrides.
Prevent stock-outs and over stock
Defines optimal inventory levels, for individual products or in batch mode, based on:
Product service levels
Supplier lead time
Set your reorder points
Automatically optimize reorder points or generate new reordering rules as market demand changes:
Option to generate purchase or manufacturing orders when reordering rules are triggered
Manually adjust recommended reorder points
Plan ahead in your purchasing processes with intelligent recommendations.
Vendor and Quantity Recommendations
Get an overview of your vendor relationships in one place and make the best purchasing decisions by utilizing:
Vendor lead times
Import or Export to Excel for Portability and Flexibility
Automate Purchasing Execution
Streamline your procurement process by automating the purchasing workflow using triggers and thresholds that you can configure.