Maintaining an accurate inventory is a crucial part of any company that sells products to consumers or wholesalers. Not only does it allow a company to track when supplies are low, but it can also be used to determine the total assets the company holds in the event inventory is lost. Some companies attempt to maintain inventory using a pen and paper, but this can be time-consuming and lack accuracy. One of the best ways to track the stock levels of an organization is to use order management software. Here are just a few of the many ways it can streamline business processes and ensure that products are always available.
Quick Inventory Entry
The most time-consuming part of maintaining an inventory database is entering the data into the system. Most systems allow companies to assign a barcode to the products they sell and scan them into the system. This allows a receiving department to enter items as they arrive and provide up to date information without delay. Companies can also manually enter inventory into the system if they do not wish to use a barcode scanning system.
If products are depleted, it can prevent companies from being able to fulfill orders. An inventory system will automatically alert users when levels are low and indicate the number of products that are needed to prevent a shortage based on past sales. Not only does it allow a company to provide a higher level of customer service, but it also prevents the need to manually check on supply levels.
Real Time Information
Inventory software provides users with real-time information. As new products arrive and are entered into the system, they will automatically show up in the tracking software and allow any user with access to see product levels without delay. This information can be used to anticipate surges in orders based on past sales, and allows a company to be ready for any size order that may come in.
Order Management Integration
Inventory tracking software can be integrated with an existing order management system. When a customer places an order, the item will automatically be deducted from the total inventory level. This prevents the need for staff to manually track inventory, and can provide real-time information on product availability for all customers who shop using the company’s online portal.
Inventory tracking can be a very time-consuming process. The inventory experts at BizSlate make easy work of managing the inventory of wholesale, retail and manufacturing facilities. Contact them today to learn more about the benefits of using the latest software and cloud-based technology to track inventory levels. It can save any size company money and boost employee efficiency to unprecedented levels.