People use technology because it makes their life easier. Businesses use it because it helps them stay ahead of their competitors and improve the efficiency of daily operations. However, some businesses are reluctant to give up traditional workflows in favor of technology, especially since technology comes with a price. This is particularly true for the inventory process. Manual inventory is still a common practice, especially for small businesses, but the truth is that an inventory management software will pay for itself sooner than you can imagine, it will help you cut down costs and boost your sales. So, you can say goodbye to countless hours of inputting numbers into spreadsheets and embrace the benefits of an inventory app. If you are still not convinced, take a look at the main advantages of using such an app.
1. Gain full control of your supply chain
A good inventory management system will allow you not only to always have accurate data about your stock, but also to see valuable and actionable data about your inbound and outbound product flows. The ability to fully control the supply chain is essential for all distribution and retail companies.
2. Optimize your quality control system
Whether you are dealing with perishable or non-perishable goods, it pays to be able to quickly identify the errors that can occur during the supply process such as delayed shipments, broken packages, lagged fill rates and so on. With a good inventory app, these issues can be identified immediately and dealt with in a timely manner.
3. Improve your forecasts
A computerized inventory management system will give you access to accurate and relevant historical data, so that you can make accurate sales predictions. Moreover, by always knowing the stock levels in your warehouse, you can also forecast your future stock requirements, so that you can maximize your cash flow, and avoid unpleasant situations like overstocking or under stocking.
4. Lower your costs
When you have a lot of products that don’t sell, you basically have blocked money, which could have been invested in more popular products. With a good software, you can optimize your stock requirements and increase the return of investment in your inventory. Many companies also apply the FIFO system (first-in-first-out), meaning that they prioritize their stock based on the period when the products were acquired. This is a very efficient system, as old products are always harder to sell, even when dealing with non-perishable goods.
5. Optimized work flow
Inventory management systems are usually very intuitive, and they can be used by anyone. Some of them are even compatible with mobile devices. If you use an efficient mobile app, like the Sortly inventory app, you will be able to easily delegate inventory tasks to your staff, and everyone will have access to relevant information in real time. Overall, this means that your employees will spend less time doing redundant tasks, and more time doing productive business activities.
6. Improve your customer service
By fully controlling your supply chain, you will be able to process shipments faster and in a more efficient manner. This means that there will be fewer situations involving wrong shipments, broken packages or delayed orders, so you will be able to take your customer service to the next level.
7. Integrate with other software solutions
Most inventory systems are either compatible with other software solutions like accounting, shipping or e-commerce systems, and if they are not compatible, they can easily be integrated with the help of a tech support team. By integrating your inventory system with other relevant systems, you will gain a better control over all your business activities.
8. Maximize sales and profits
If you add up all the above benefits, in the end, the main benefit is the ability to maximize sales and profits. This happens naturally as the inventory software helps you lower your costs and make more accurate forecasts, so that you are better prepared to handle the demands of your customers.
