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 , offers both the control and the insight that you need to stock the warehouse efficiently and affordably. You can manage all of your business operations from this single, integrated solution including finances, inventory and supply chain, manufacturing and , and other core data. You can manage inventory at one warehouse or multiple warehouses or distribution centers and be confident in knowing what inventory you have, whether it’s available or promised to customers, and make more prudent purchasing decisions.
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.
By ., a Gold Certified Microsoft Dynamics ERP Partner out of Utah
