A Messy Warehouse Implies A Messy Business

“The more inventory a company has, the less likely they will have what they need.”
                                                                                                          ~ Taiichi Ohno

 
Juggling the day-to-day demands of business and ensuring an effective movement of orders through the workflow is a common and daunting challenge faced by a myriad of wholesalers and distributors. A warehouse is the last destination before the train of inventory reaches the final mile to your customers. Hence organizing and maintaining it paves the way for the smoother workflow, delivering a much better customer experience.

Inventory occupies a vital place amongst all of the warehouse operations, and its efficient management is essential to keep the entire supply chain running smoothly. However, the unfortunate truth is that 46% of SMBs either don’t track inventory or use a manual method, thereby increasing the chances of errors and getting shackled in the pool of a plethora of complex decisions. 

Inventory management software is capable of building an ideal eco-system by transforming mundane tasks like ordering, receiving, and shipping products less complicated and more streamlined with a multitude of other benefits.

• Strike a right balance of inventory levels

A mammoth challenge that many organizations face is finding a right balance between too much and too little inventory on their shelves. However, various companies have employed complex ordering systems and practices to manage their inventory, which results in 72% of stock-outs as per a recent study. 

Inventory management software helps you find an ideal balance that allows the warehouse to store the right amount of each of your products. It also helps in planning for rises and falls in seasonal demand, ensuring the use of your capital and other resources to the fullest.

• Business Intelligence and Inventory Management boost efficiency

A study by IDC claims that companies lose 20 to 30 percent in revenue every year due to inefficiencies. However, a perfect assortment of inventory management software and business intelligence allows organizations to gain insight about their products and hence adjust their product line by quickly and effectively monitoring the inventory levels and enabling inventory optimization decisions.

Integrative inventory software will also communicate effectively with accounting software to bring all back-office tasks together in one place.

• Multi-channel mapping

For a business broadened over multiple channels, it becomes easy with single inventory management software to manage all the orders placed on any or all the channels. Inventory software helps you to map exact SKU’s in your inventory based on the orders, thereby helping you to monitor your orders efficiently.

With NebuCore you do not need to have separate systems for each warehouse that will require some tricky synchronization. To make the transactions simpler, all the information including inventory will be available in one place.

• Distribution will work more efficiently

It is never recommended to jot down some important figures onto a pad of paper or keying them on the spreadsheets. This process of scribbling numbers onto a paper or a spreadsheet not just appears unprofessional but also turns a smooth process into a cumbersome one with higher chances of errors to occur. A study by Nation Retail Federation implies that 25% of shrink can be attributed to these errors- termed as ‘Paper Shrink”.

Effective inventory management software in place helps in running the entire warehouse process smoother, enhancing the performance and productivity of employees.

From the litany of the benefits of inventory management software, it is palpable that it’s hard to manage a business without competent inventory software. So, choose the one that works perfectly for you and your business. Once you arm your company with efficient NebuCore software, everything will fall into place, and all the warehouse tasks will be streamlined.