Updated: Dec 10, 2021
How stressed are you about stocks? Do not know how much stock you have on hand-afraid to lose it? In the event your business answers yes to any of the above questions, you need to get an inventory management system.
Here are some warning signs that your company needs a inventory control system:
Inefficient supply chains and dead stock result from manual counting that can become inaccurate and cause human error. It hinders you from making the right business decisions. This causes money and time to be lost.
The best way to manage your inventory is to upgrade to an inventory control system that allows you to track it in real time. In this way, you don't have to keep checking stock levels repeatedly since you are assured of their accuracy.
Always Run Out of Stock
It's a big problem for any business if their stock runs out. The chances of selling to your customer are slim if you do not have what they want. The result is a loss of revenue and a damaged reputation for the brand.
When your inventory levels begin to fall, the inventory control system automatically places orders to replenish them. The warehouse will also have more space if you have excessive levels of inventory.
Purchased vs Sold Stock
When you perform the end-of-year stock check, you verify that the numbers between what you have purchased and what you have sold match. A certain amount of shrinkage is to be expected (spoiled stock, breakages, etc.).
It is not proper for you to adjust your business tracking method continuously for what was sold versus what you anticipated. With an inventory control system, you can determine if future discrepancies are likely. It allows you to detect shrinkage threats, such as damaged stock, theft, etc., and saves cash.
Problems with Managing Inventory across Multiple Locations
With no inventory control system, it is very difficult to manage multiple inventory locations, whether it is online or physical. You need to pay attention to team members who are having trouble accessing inventory info from different locations.
It can be costly to over-order, manage inventory, and move inventory around, or to under-order. It is essential to have complete visibility and control over inventory.
Use of Spreadsheets and Clipboards
Micro- and new-sized businesses find the use of a simple spreadsheet sufficient for their inventory control needs and do not invest in online inventory control systems. The use of spreadsheets when starting a business may be helpful, but it is not a sustainable and flexible method.
Management by hand is possible only if you have a few products and local customers. It's important to upgrade your inventory control system to an enhanced online inventory system as soon as your business expands.
One Dashboard View
Inventory management software programs offer visual dashboards that can be customized according to your personal preferences. A dashboard that is well-designed is a powerful business tool. An intuitive dashboard provides all the insights at a glance, and since it automatically updates, you will always receive the most current information.
Dear Systems Inventory Control Software
Managing a small business requires the ability to track, store and manage data across a modern, complex world. DEAR Systems inventory control software is what you need when you notice any of the signs above in your business. The application helps you manage inventory and other business operations depending on your cash flow.
It consists of a Warehouse Management System, which lets users manage their warehouse operations in real-time. By viewing inventory levels at real-time, you can scan barcodes for products, print shipping labels, and ensure packing accuracy.
Among the other features of the software are Write-off functionality for lost or damaged inventory, Drop Shipment, inventory synchronization with physical sales, product cost monitoring, inventory transfer, stock adjustment, and custom picking.
In this way, you can implement a solid management process in your business with DEAR Systems inventory management software, which is an integrated, effective, and easy solution.