Getting an out-of-stock message is frustrating for your customers and a sure way to lose revenue for you. If this is an all too familiar situation, it’s time to make some changes in your operations. Using the right inventory management tools, integrated with your business software systems, can make the difference. Here’s how.
Better Demand and Order Curve Predictions
It can be difficult to predict your company’s demand curve without historical data. Some industries find that orders fluctuate greatly from year to year, seasonally, or even monthly. That’s where having accurate, real-time data really comes in handy.
With Sage 100 or Acumatica ERP integrated into your warehouse management system, you’ll be able to run reports on sales to assess the demand curve and predict future orders. The order cycle can be assessed and analyzed too, and changes made in your stock levels, based on predictions derived from data. These systems use accurate, timely data, so you are always accessing the latest information. It makes predicting demand much easier throughout the organization.
Monitor, Measure, and Manage Made Easier
Warehousing and distribution managers talk about the “three Ms”: monitoring stock levels, measuring current stock and forecasted demand, and managing supplies according to demand level.
With the right data at your fingertips, each element among the three Ms becomes easier to address. Real-time data accessed through cloud-based systems helps you monitor stock levels and react swiftly to increased demand, marketing pushes which create demand, and other situations that may increase orders and necessitate reorders.
Measuring exiting inventory is also easier. Accurate data, transmitted through the swipe of a barcode reader or even via smartphone scan, helps you get a complete picture of what is available within your warehouse.
Managing inventory is improved with the right systems in place. Stock can be moved from one location to another to fulfill pending orders. Managing bin locations, shelf areas, and other tasks related to warehouse management can also be accomplished quickly with the right data at hand.
When it comes to warehouse management, knowledge—specifically, accurate, timely data on your stock situation—is power. Without it, your work is based on guesses.
Accurate and timely data helps you run a more efficient and effective warehouse. Knowing what is in stock, how much is left, how long it will take to replenish key items, and where items may be housed within the company is critical. Warehouse management systems, coupled with good business software like Sage 100 or Acumatica ERP make the task easier by synthesizing and collating data from numerous parts of the organization. Access via web-based interfaces ensures no matter where you are, you can see at a glance the information that will help you run your business. It’s powerful knowledge that will help you manage inventory levels so you rarely run low on anything again.
ASI Provides Expert Assistance
ASI can help you solve your most complex business issues. We regularly work with companies to improve inventory management and other operations. Contact us to start reaching your goals.