You may have an excellent grasp of your inventory. However, there is always more to improve. Quality inventory management software can improve flow and get you where you need to be. What are some quick and viable tips you can deploy with the right software? We compile 5 to get you started.
Get a Stock or Inventory Manager
If you are feeling the pressure of inventory maintenance, hire someone to take over. They can handle all the nuances of inventory, understand the software, and take control over assemblies. Good stock managers can play an integral role in processing orders, managing invoices, and matching the order with what is being shipped out. It can be a full-time job, and one not often fully and efficiently handled by the company leaders.
Look at Drop Shipping
Drop shipping is a really fascinating possible approach for a business. It allows your reach to extend ever-farther by bringing your product right to the customer. It helps retain brand loyalty. Moreover, the process works especially well with high-quality yet bulk-oriented items, like jewelry and wine.
Drop shipping can also allow you to make sales without actually holding onto the product. This reduces the costs of in-house storage, as the wholesaler or manufacturer is responsible for storing and shipping.
Manage Quality Control
Few products, if any, can escape the constant pressure of time. Some products can age quickly on the shelf and become unusable, while others simply age through degradation. Regardless, you need to maintain a certain minimum-quality for your inventory. This requires a screening and reviewing process.
Stock audits can be a great time to take a review of the inventory quality. But you could do it more often than a typical stock audit, especially for certain depreciable products. Consider placing a high emphasis on stock quality control to ensure customer satisfaction. Doing so may avoid cost-intensive returns, annoyed customers, backlog, stockouts, and more.
Reevaluate Inventory Tags and Groups
Most knowledgeable stock managers understand the need to divide products into categories.This makes it easy to store them and just as easy to find them. But, this isn’t the be-all end-all of stock placement. In reality, stock could be shifted and moved to different tiers and groups.
However you have your stock organized now, you should take some time to reevaluate. Could you group this product in with another? Should you move it to a different warehouse or send to drop shipping? These questions can help smooth out your process. It is worth it to take some time and ask the big questions about placement. It provides tighter control and superior results. However, it should not be done haphazardly. Inventory management software can help you discover places where low stock is common, shipping is delayed, and more. It could help tighten up product organization.
Inventory management software comes in all shapes and sizes. Select a platform to suit your specific needs, open up bottlenecks, offer more options to customers, and retain tight control. It is your time to shine. Contact us today.