Have your customers ever encountered an “out-of-stock” situation?
If yes, then you’d know how much disappointment it causes, not to mention the loss
of sales. In 2015 alone, retailers lost over $1.75 trillion due to this mismanagement.
It’s time you throw that inventory sheet out and start using inventory management software. If you haven’t suffered through the loss yet, you will. Manually managing inventory is also a challenging task and is bound to human error.
With an effective system in place, you’ll achieve fast and efficient solutions to your inventory while minimizing any additional costs. It also makes it easier to keep all your finances and accounts updated and in check. Moreover, it helps by providing excellent customer service, faster delivery, and little or low charges.
This is why you need to get yourself an inventory management system.
Tracking Inventory Made Easier
Good order fulfillment software will help you keep track of all your inventory. It’ll let you view all the stocks across the channels, keeping you in the loop of where your stock is and how much it is.
You’ll also be able to allocate your inventory to specific areas, especially if you have warehouses (for which you can use an inventory management system for warehouses).
Another thing a proper inventory tracking software does is that it lets you know how your stocks are doing, whether they’re being sold or are just stacking up shelf space. You get to know about excess inventory, when the sales go up for certain products, etc.
An Efficient Delivery
Late deliveries are never ideal; you want your customers to get what they want right on time. Otherwise, you’re bound to get a bad reputation.
Because inventory management will let you improve the overall flow of stocks, you’re more likely to make timely deliveries, satisfying customers in the process.
You Can Forecast Better
A good cloud-based inventory management software would let you analyze data in detail, bringing forth better forecasting.
This reduces your handling costs, spikes up the revenues, and frees the cash flow. With properly managed inventory tracking, you can deliver up to your customer’s expectations.
Good inventory management software reduces time to log in and keep track of all your products that you have on hand. You also save up on the recounting to ensure your recorders are updated and in place.
If you’re looking for the best inventory management software, check out AltheaSuite.
Our batch tracking and cloud-based inventory management is a one-stop solution for all your ERP needs. With a comprehensive CRM and reporting system, you can use extensive data to make profitable business decisions.