Netstock – Supply chain planning software

Netstock is a demand and supply planning solution. The key features include:

1. Exception management: such as excess stock, surplus orders, stock-outs and potential stock-outs.
2. Forecasts: powered by advanced algorithms designed to detect trends and seasonality in sales history.
3. Dynamic safety stock: calculated automatically for each SKU at each location. The calculation considers your policies,goals, risks and constraints.
4. Inventory optimisation: hold the optimum level of stock for your business; whilst reducing excess and preventing stockouts
5. Projection – where are we headed?: This functionality helps you see where your inventory and purchasing are headed over the next 12 months based on the policies you have set. This insight allows you to adjust your policies and goals as needed.
6. Recommended orders: by location, by supplier allow you to improve replenishment efficiency. The goal of the ordering screen is to ensure you are placing the right orders at the right time. 

Netstock uses a best-pick tournament method for forecasting demand. This means the system selects the most suitable forecasting algorithm for each SKU at each location based on sales history imported from MYOB. Additionally, you have the flexibility to manually adjust the system-generated forecasts if needed.

Safety stock is calculated at a SKU by location level. The safety stock figure is influenced by your target fill rate, replenishment cycle, lead time, supply risk and forecast risk. The safety stock figure is automatically built into each recommended order to ensure that you are ordering the right amount of stock, considering any risks.

As an example, if you have a supplier who consistently delivers late or does not deliver in full, you will have a higher level of supply risk which will increase the level of safety stock required to meet your target fill rate. The same concept applies to products with erratic sales, lengthy lead times or longer replenishment cycles.

Netstock calculates a dynamic min max for each SKU at each location. The min max is the optimum level of stock that Netstock recommends you hold in order to meet your target fill rate taking into account lead times, replenishment cycle, risk factors and expected demand. The dynamic min max will take into account trends and seasonality which are garnered from the sales history and future forecast.

Netstock classifies with a two-pronged approach.

1. ABC: based on contribution to turnover at cost price.
2. HML:  based on the velocity or product movement.

Classifying products in this manner enables users to assess their value to their business. AH items represent fast-moving products that generate the highest sales value, while CL items are slow-moving products that contribute minimal value when sold.

Yes, Netstock will import existing BOM links from MYOB. Netstock will forecast demand for the finished goods and break down these requirements into the necessary raw materials and components. Each component will maintain its own safety stock, ensuring the system keeps adequate inventory levels. This guarantees that all required components are available to meet the total demand for the finished goods at the forecasted time.

Yes, Netstock will provide you with recommended transfer orders when you are sending stock from a DC or main warehouse to satellite locations. In this scenario, the main warehouse acts as the preferred supplier for the satellite location. The forecast at the satellite location will trigger a recommended transfer order from the main warehouse to meet the satellite warehouse demand, taking into account transfer lead time, risks, and constraints.

After reviewing and adjusting the recommended purchase or transfer orders in Netstock, simply click download. The recommended order will then appear as a pending or draft purchase or transfer order in MYOB, with all necessary details such as costs, codes, order date, and due date. From there, you can release the order following your usual processes.

Netstock has a direct integration with MYOB Exo and a pre-built integration with MYOB Acumatica (formerly MYOB Advanced). Once the data is flowing, we help you clean the data, establish your inventory policy, and provide comprehensive onboarding and training on how to use the software effectively.

Training is the primary focus of our onboarding process. We offer instructor-led sessions, complemented by an extensive online learning library featuring resources, videos, and courses. Our hands-on training covers setting policies, classifications, configurations, and placing orders with our team, ensuring you gain the confidence to operate independently.

Great question. Generally, we always like to have a preferred vendor as the starting point. The reason for this is that when you are ordering from a vendor, they have different lead times, different quality, or different reliability in terms of how they supply. So, the amount of stock you need to hold needs to be different depending on your preferred vendor. We record all the different vendors, so you can order from whichever vendor you like, but the system will always recommend the preferred vendor. When you are in the replenishment screen you can click the button and say you would like to move an order to a different vendor. Maybe for reasons of costs, or maybe you have a local vendor that can supply quite quickly – even though it may be more expensive, but you really need that emergency order placed. We have that capability as well.

Yes, absolutely. This functionality is more relevant for the food and beverage industries; however, the software is capable of monitoring and tracking any items that will go out of date. Netstock requires a custom set of data, where the expiry dates are entered in. It then uses this information to help influence future ordering.

Yes, Netstock is sophisticated enough to do a forecast set to the specific customer. This forecast can then be rolled out to an item level for replenishment purposes. You can also adjust forecasts, get forecasting performance and macro adjustments all at the customer level, and this can flow through to the relevant products.

In Netstock everything is in days. Everything is shown to you in days of cover and how it was turning, and everything is against an ideal model. The projection view within Netstock actually shows you the over or stock turns into the future.  This is right throughout the software. It always shows you days. You can get any type of report that can use either stock turns or days of cover into the future for all of your products. And you can compare that against the ideal model days as well.