Every retail company has an inventory, but too many of them treat it like a stagnant feature. They think they understand how much inventory they need, so they maintain those levels and believe that’s doing enough. Sadly, your company could be doing a lot more with their inventory if they simply leveraged the right technology. Fortunately, we at Appath have designed it with our inventory management software.
As we mentioned, many companies believe they have the right level of inventory simply because they never sell out. And if they do, they’re comfortable with the idea that all they’ll have to do is call their supplier. Let’s take a look at two issues here.
First, unless you’re using our inventory management software, it’s very possible you’re incorrect about the amount of product you need in stock. Our software offers user-friendly reporting that allows you to assess whether or not you have too little or too much. Have too little and you risk missing out on sales. But have too much and you’re needlessly tying up capital you could be saving or dedicating to other important endeavors.
Checking your inventory manually takes time. Running our reports doesn’t. So you can regularly reassess your numbers to ensure you’re doing everything you can.
Furthermore, unless you check regularly, you could easily be investing in inventory that simply isn’t worth it. While it may be selling, perhaps it’s not selling nearly as well as other items that you’d be better off putting more money behind.
Second, if you do run out of inventory, you’ll have to notify your supplier. But why even let it get that far? Our software allows you to automate the job of keeping an eye on inventory levels so the moment it becomes risky, your suppliers are notified that more items are needed. While selling out is a good problem to have as far as problems go, it’s still far better to make more sales instead.
As your inventory levels change due to customer orders, you can trust our inventory management software to update it when any change occurs. By taking over this role, you’re left with more manpower where it’s better suited and no longer needing to worry about human error.
While every company appreciates how important their inventory is to success, few are doing everything they can with it. But when you use our inventory management software, you’ll have all the above options for doing more with the related information.
Source:
http://appath.com/handling-stock-with-inventory-management-software/