Everyone knows how to count, but when there are multiple warehouses and high volumes of inventory coming in and going out the door, counting inventory becomes a challenge.
Real-time inventory counts are essential for fulfilling customer orders, reducing the chance for costly stock-outs, and can have a significant impact on cash flow. Control inventory and keep real-time counts with an enterprise resource planning (ERP) solutions.
There are so many ways that inventory can get out of control and have a significant impact on your bottom line. You can order too much of an item that is declining in popularity and be stuck with obsolete inventory. You might order a new batch of inventory when the items you need are sitting in another warehouse. It’s also very easy to miscalculate appropriate safety or buffer levels, leading you to have more inventory on-hand than you really need. All of this excessive spending adds up, causing you to invest heavily in unnecessary inventory while preventing you from investing in other important parts of your business.
Controlling your inventory is easier with the right technology. An enterprise resource planning (ERP) solution such as Sage 100 ERP (formerly Sage MAS 90/200) can help you track inventory more accurately even with multiple warehouse locations. You can stay on top of accurate inventory counts as inventory is coming into the warehouse, being sold to customers, shifted to other warehouses, and leaving the warehouse.
Detailed reporting features enable your team to monitor item pricing, stock status, backorders and reorders, turnover, sales histories, and more. This added insight will help you identify trending products so you can stock up on the popular items and make plans to phase out obsolete inventory.
Sage 100 ERP also offers a Business Alerts module which you can use to notify key staff of major changes in inventory such as a large customer sale that depletes certain items or puts a dent in buffer stock. These alerts can aid your team with maintaining strategic inventory items at the strategic quantities that make financial sense.
Keeping tabs on inventory can be a challenge and lead to expensive mistakes. Get the control and insight you need with the robust inventory management capabilities offered in an ERP solution. Contact DWD Technology Group for more information about making inventory your strategic advantage and not a drain on your pocketbook.