Lower Resource Expenses
To actively reduce costs, automated stocking and purchasing practices can be adopted.
Using the software, inventory levels can be monitored and adjusted based on every resource used and upcoming resources needs, and required resources can be seamlessly allocated from repair orders.
Additionally, purchase orders can also be automatically issued to preferred vendors when resources of a certain kind drop to a certain quantity, which can be pre-determined.
This form of automated inventory replenishment process not only minimizes manual administration duties but also ensures that the production line never stops.
Efficiency & Productivity in Operations
Keeping stock means tying up your money in them. You can’t spend this money.
You want efficiency in managing your stock levels so that your business is cash flow positive. We all know what happens when your business runs out of cash, never mind profits.
Also, analytics and reports can help you see what products are selling fast through your multiple sales channels. This helps you make smarter purchasing decisions and you might be able to spot a trend or two!
Do you need to manage product and batches and expiry dates?
This is important for the health, beauty and pharmaceutical industries.
How about managing multi-matrix product variants? Or handling complex units of measurement?
All these are possible with an inventory management solution.
Integration of Entire Business
The flow of information in the right direction is ensured by Inventory Management Software. When a sale is done, or a deal is sealed, Inventory management software lets the rest of your company work with it as it makes its way from sales to fulfillment.
Firstly, the accounts of your employees, in-charges and managers are set up and job roles and permissions are assigned.
Thus, everyone only gets the abstracted access and doesn't involve modules which they are responsible for. This prevents them from having access to stock adjustments or transfers, for example, or from viewing confidential financial reports.
Secondly, tasks and notes enable collaboration between members of your team. The sharing of information between your staff is seamless resulting in better communication, learning to the results produced exactly what is needed.
Thirdly, for the fulfillment, your operations team can easily create a shipment. They can then pack all the items and quantity in the sales order that has not yet been shipped. Within the delivery order, they can also issue picking and packing lists to the warehouse team to ship. When the order has been received by the customer, the team can mark it as delivered.
Finally, your accounts department can filter sales orders by their shipment status.
The finance department can then issue invoices for those orders that have been shipped. These same customer invoices can be quickly listed and marked as paid when payment is received. Or have a credit note issued to the customer for product returns.
Thus a full integration of Inventory Management fulfills a loop of tasks.
Automation of Manual Tasks
Inventory Management Software can also take care of the basic tasks like data entry and other complex calculations. Which will avoid both human efforts, errors as well as time.
The automation in Inventory Management Software makes a task done by many manual operators for hours within minutes.
Embrace barcode scanning technology. Create sales orders straight away by scanning the items in the shipment. Or dispatch goods in a shipment by scanning them too.
Keeping Customers Happy!
Keeping your Customers Happy - The core value of every business.
Do you wonder how an Inventory Management Software running in the background makes your customers happy?
Well, it reduces your time to fulfill for a start. With an inventory management system you’re able to keep fast-selling products in stock (from your analytics and reports remember?) and fulfil them immediately.
Who would customers rather deal with?
A seller with ready stock to ship immediately? Or one that takes 2–5 days to order stock before shipping it out? A customer that receives an order quickly is definitely a happy customer.
You might manage your inventory without an Inventory Management Software. But, your businesses will be at its best flow and at the right pace, only with the right Inventory Management Software with Super Simple ERP.