Controlling inventory is always a challenge for warehouse managers of growing businesses. Meeting that challenge is necessary to achieve profitability and business goals. The more your business grows, the more it can feel like your inventory is out of control. Too much of one thing, not enough of another, not enough floor space to store it all … it’s always a challenge.
10 Most Frequently Asked Questions by Inventory Managers
Most inventory managers share similar questions:
- Am I stocking the right items?
- Am I making the best use of my floor space?
- Am I rotating my stock adequately?
- Did I track everything accurately? Did I miss something?
- What is the current value of my inventory?
- How do I keep stock levels up to meet growing demand?
- How do I track in-transit inventory?
- Is there a better way to organize inventory for efficiency?
- When should I order more?
- Is there a better way to store items for fulfillment?
These 10 questions are among the most frequently asked by inventory managers. If you aren’t using up-to-date software for your business needs, you may struggle to answer them.
Out-dated inventory software or manual systems can’t help you decide if you’re stocking the right items. You won’t have the sales data at your fingertips to answer that question.
Older systems don’t enable you to track in-transit shipments or alert you when you need to order more of any one product. Many of these needs are addressed only with newer software.
You can’t make money on products you don’t know you have. If your inventory is overstuffed and your warehouse is out of control, you may have too much capital tied up in excess inventory and not enough liquid capital to fund other areas of growth and expansion. Conversely, if stock levels drop too low, you may not be able to fulfill your orders quickly. You could lose customers dissatisfied with slow service.
Better inventory control software can help.
Acumatica Distribution Edition for Better Inventory Control
Acumatica is a cost-effective, cloud-based solution that provides you with a seamless look into the inner workings of your business. Because it’s cloud-based, you can view it anywhere, anytime you have an internet connection. With the recent introduction of the Acumatica Distribution Edition, this cloud ERP software just got even more powerful to help control inventory.
A visual dashboard is easy to navigate and provides you with alerts for key areas. Yes, it can tell you when stock levels are running low, or when stock is aging. These features can help you run your warehouse more efficiently.
With the data derived from Acumatica, you can take control of your warehouse once again. Data provides the foundation on which you can make sound business decisions. You’ll be able to see at a glance what your stock levels are, what needs to be ordered, what’s aging, and much more.
It’s an inventory control tool whose time has come. With the right data available to you, you can make sound, intelligent business decisions. Maximizing your warehouse operations is just one step among many that you’ll take today to improve your business, but it could be the most important one yet.
Contact ASI to Learn More About Acumatica
If it is time to take control of your inventory, contact Accounting Systems Incorporated (ASI). We can help you implement systems and processes to take charge of the warehouse. We focus on helping small to mid-sized companies improve operational efficiencies through the power of software and technology. Software such as Acumatica ERP can provide the inventory answers that you need to grow your company. For more information, visit our website, or call us at 803-252-6154.