The Most Important Element Of Inventory Management Is Stock
You may sell many popular items. Yet, sometimes your customers cannot purchase your products due to the items being out of stock. Not having the right stock at the right time will result in lost sales. Often, businesses only hold a small amount of stock and owners do not see the need to invest in stock management software. So, managers typically have to do all of the ordering manually. This process is error prone, time consuming, and makes it difficult to replace inventory quickly. The most important element of distribution is stock “if you don’t have it, you can’t sell it.” Get your stock management wrong and you could be losing sales, disappointing customers, or sitting on inventory that you just can’t move.
Even worse is if you have a stock room packed with items that just don’t sell — no matter how much you have reduced the cost. Are you stocking the products your customers want? Or are you sitting on tons of unsold stock, as your customers head elsewhere for the things you’re missing. If so, you could benefit from software that helps you manage your stock, predict sales trends, and keep your inventory lean. When all ordering is done on gut instinct, you cannot be sure how well a line is going to sell before making the items available for purchase. By following a few simple steps, you can make inventory management much more effective.
With Better Inventory Management Software you can Help Streamline Inventory Tracking, Control and Also Have Better Stock Management
Do you always have stock for your customers? If you don’t have it in stock, you can’t sell it. Simple as that. Find out how sales analysis, predictive forecasting, and automated ordering processes can help you guarantee you always have what your customers want, when they want it.
Improving inventory management could help your business. SAP Business One enables you to put your customers’ needs at the center of your business, so you can improve your stock management, and prosper. With this software solution, you can collect all data related to an inventory transaction (item(s), financial accounting, customers, vendors) in one place. Having all of your data in one database helps you improve inventory tracking, control and management. SAP’s integrated business management software for growing small and midsize companies makes all this possible.
Know What Inventory you Have in Each Warehouse and Distribute Stock Faster
If you know what stock you have across all branches, you’re able to distribute items much better. There’s no sense having seven pairs of size-nines in the Denver store, and none in the Boulder branch. By investing in a software solution that keeps track of all stock, you’ll know exactly what you have and where it is. So, you can ensure the products are evenly spread, increasing the chances that they’ll sell.
Automate Your Inventory Processes and Manage Stock With Ease
By automating the re-ordering process, you can make out-of-stocks much less likely. As soon as an item is sold, the system can be set up to re-order it straight away. So you know you have a replacement coming.
By making re-ordering an automatic process with SAP Forecasting and Replenishment, you’ll also spend less time physically counting stock and ordering individual items. So you’ll have more time to spend on things like merchandising, staff training and the other areas that will help your business to grow.
Quickly and Easily See What Products are Selling
If a product is selling well, you’ll want extra stock so you can sell more of it. By analyzing all sales that go through every branch, you’ll see which products are popular and which are simply not selling. So you can ensure you’re ordering the products that people actually want. And you can cut costs by holding lean inventories — stocking the quantities you actually need and not having your finances tied up in the stock room.
With the real-time reporting you get with SAP HANA, you can also look at patterns in your sales data to estimate what sales trends you’re likely to see. So you can make more informed forecasts.
Analyze and Assess Your Processes
Continue to monitor your inventory processes and look for improvements. Is your re-ordering process as effective as it could be, or are you still suffering from stock shortages? Are you consistently able to meet customer demand? By identifying any gaps or problems, you can fix them quickly and prevent further losses.
Leave Room to Grow
Whatever system you implement now, it may not be as effective as your business grows and your inventory management becomes more complex. So, you need something that can grow with you. Make sure you have the ability to scale up any software you introduce, and ensure you can add new packages that you might need in the future — without the need for costly upgrades.
Grow Your Business With Ease
Realize your ambitions. Be first to market with products that customers crave and maximize your return on investments. Fulfilling your ambitions for business growth depends on a number of factors. First and foremost, you need to respond quickly and efficiently to changes up and down the supply chain so that you are first to market with products that customers crave. That way, you can maximize your return on brand, promotion, and investments
Have Questions About how SAP Business One can Help you With Better Stock Management?
If you would like answers to questions about how SAP Business One can help you better track, control, and manage your inventory, connect with our team’s certified SAP Business One software consultants today by calling 813-321-1300.
We understand that it can be hard to stay on top of every part of your inventory tracking, control and management systems. Contact Cornerstone Consulting for tips on how you can forecast inventory trends, avoid shortages, and respond to stock related events as they occur. With the right business software you can maximize opportunities, reduce risk, increase your bottom line, and easily achieve bigger goals. Connect with us today!
We’ve been providing advice about this affordable, powerful, integrated ERP software system of accounting, CRM, inventory, material requirements planning (MRP) and warehouse management software, to manufacturers and wholesale distributors for more than 15 years.
Small and Midsize Enterprise Resource Planning (ERP) Business Management Software for The Manufacturing, Wholesale Distribution and Online Retail Industries
With the right software, such as SAP Business One (also known as SAP B1 and Business One), you can have all of your transactional data in one place and access real-time information regarding: customer, sales, and inventory data. With this business management software, you can improve the customer experience across multiple channels. And you can provide your employees with the power to analyze data, so you can plan, execute, as well as improve your inventory strategies locally, nationally, and globally.
SAP’s best selling ERP system is SAP Business One. The business management software solution is the fastest selling ERP solution on the market for these reasons:
1. It is incredibly easy to use. Please see the SAP Business One iTour
2. It is affordable for growing small businesses and midsized companies. Professional (super) users approx. $3,000. Limited (financial, logistics, CRM) users approx. $1,500
3. Built by the world leaders in ERP, SAP, on the latest software and technology platform. Can be run on iPads and iPhones
SAP Business One is a fully integrated business management system which includes functionality around financials, sales, purchasing, distribution, HR and customer relationship management (CRM). In short, all the functionality you expect from a larger enterprise system, but substantially less to purchase and much faster to implement a low risk option for your growing manufacturing, wholesale distribution or online retail business.
SAP’s best selling ERP for small and midsize businesses (SMB and SME) can be installed and run on your on-premise server or in a cloud. The database options are MS SQL and SAP HANA (for querying data at lightning fast speeds). MS SQL is a traditional database. SAP HANA is an in memory database.
As a singular data system, right “out of the box” the software offers completely integrated:
- Sales Opportunity Management
- Order Entry
- Accounts Receivable
- Accounts Payable
- Customer Relationship Management (CRM)
- Business Partner (Customer/Vendor) Management
- Production Entry
- Material Requirements Planning (MRP)
- Service Management
- HR Management
- Crystal Reports Reporting Engine
- Dashboard and Analytics Displays
If you are researching enterprise resource planning business management software systems, and would like more information about the fastest selling ERP program on the market, Cornerstone Consulting specializes in:
- SAP Business One
- SAP HANA in memory database
- Electronic and Mobile Commerce
- Enterprise Mobility
- Bar codes and Scanning
- Business Intelligence (BI)
- Business Analytics
- Cloud Computing
- Custom Programming
- Web Development
Business One Demo | See the Software to Believe it!
With integrated accounting, CRM, inventory management, and warehouse management, your business can maximize performance. Call us today to schedule your web demonstration of this amazing ERP software system.
Business One Free 30 Day Software Trial | No Cost or Obligation
You can try this business management software at no cost or obligation now. Please call Cornerstone Consulting at 813-321-1300 for your 30 Day Free Trial of SAP Business One.
SAP Small Business Enterprise Resource Planning (ERP) Systems | SAP Business One Software, Related Services and Tech Support
Leaders of Manufacturing, Online Retail and/or Wholesale Distribution companies located in FL, as well as organizations located through out the U.S., rely on Cornerstone for better stock management best practices, enterprise resource planning (ERP) business management systems, software services and on-going technical support. As an award-winning Business Partner and Value Added Reseller as well as SAP Business One Gold Partner, our expertise is outstanding. Cornerstone Consulting has been providing state-of-the-art business software systems, as well as related technical support, to small and mid-sized manufacturing and wholesale distribution enterprises for more than thirty years. Looking forward to helping your business leverage SAP Business One software and cutting-edge technology.