Manufacturers and distributors manage volumes of inventory items, some fast-moving and others slower-moving. There is always a risk for overstocking the warehouse or getting stuck with obsolete inventory. Gain greater control over inventory costs by implementing a stronger business management solution and you’re free to invest in other parts of your business.
When it comes to managing inventory, not all inventory is created equal. There are items that you may want to have in higher quantities than others, particularly with safety stock. However, the more inventory that you purchase, the more cash is wicked away from other important parts of your business. Strike the right balance by deploying an enterprise resource planning (ERP) solution with strong inventory and warehouse management features.
A robust ERP solution, such as
In addition to tracking inventory, you can also monitor customer buying behavior. Built-in business intelligence features make it easier to see trending data, such as what your customers are most or least interested in. You can identify common replenishment orders and be proactive with satisfying customer needs while also strategizing procurement activities. Better forecasting can support your efforts to stock the warehouse, including strategic safety stock, without overstocking. You can save money when buying in quantities that offer price reductions or you can purchase in advance which can save money in rush or last-minute delivery charges. The more you learn about customer behaviors, the better you can strategize inventory purchases, safety stock, and reduce your chances of getting stuck with excessive or obsolete inventory.
Control inventory costs and have the inventory that you need on hand without draining cash from other important parts of your business. Contact Premier Computing, Inc. to learn how you can streamline inventory management with the support of a strong ERP solution.