Do you make it to the 43% of retailers who define inventory management as their #1 challenge? And it’s not just this sector which suffers from the fallouts of poor inventory management; manufacturers, distribution centers, online e-commerce companies and other businesses often find it vexing to manage inventory efficiently.
The costs of poor inventory control…
It’s understandable; inventory management goes onto affect business-customer relationships. If you fall short on inventory items, you end up turning away and losing customers. Survey shows that more than 70% of shoppers prefer making the purchase from a competitor than waiting for a seller to restock the product they need.
On the other hand, if you have excess inventory, you’re facing additional warehouse expenses and wasted time in managing records. Also, stocking extra is never smart when you’re dealing perishable, easily-damaged products. In short, you’ll be facing reduced profits in the future.
Fortunately, the modern age is brimful with technological innovations for inventory management. Leading the market for high-quality, specialized software with inventory management features is OfficeSweeet, a cloud-based inventory software for small and large businesses.
OfficeSweeet’s Inventory Management System
Successful inventory management is closely associated with management of customer orders and sales, which means that an inventory management software integrated with additional sales support features is the perfect option for your business inventory control specialists.
OfficeSweeet is designed to help business teams manage core sales processes, including recording and using customer information, managing accounting processes—including creating invoices and quotes/ processing banking card payments and managing expense records—as well as calculating sales tax. And then of course, there’s inventory management.
OfficeSweeet enables the inventory control specialist to add/remove/edit any product or service to the system using a stock keeping unit (SKU), descriptions and pricing details. Users can track and manage each recorded item in the system to control the inventory stock.
The software also enables precision-control of inventory; the system allows users to set a baseline alert for the stock. In other words, when your stock dwindles down to a certain amount (often referred to as the buffer stock), the system creates an alert so that you can reorder. The software’s inventory control feature automatically sends a message to any member of the team when inventory reaches this pre-defined limit.
The comprehensiveness of OfficeSweeet’s inventory control system means that sales teams can work more competitively. It helps businesses reduce costs associated with mismanaged inventory, increase revenues and enable a smooth work flow for overall growth and success.
Interested in getting an excellent inventory management system for your business? Check out the features OfficeSweeet has to offer!