Overcome Warehouse Challenges with Integrated Inventory Management Software
As a wholesale distributor, you’re very familiar with the challenge of balancing the ideal amount of inventory with the cost of purchasing, maintenance, and overstock. Many leaders of the distribution, manufacturing, and retail industries face this challenge head-on with powerful warehouse and inventory management software solutions. However, stock management is generally a precise science that requires analysis of data from many different areas of business beyond the warehouse, including sales, accounting, and customer service. The ideal inventory software can easily utilize all of that pertinent information to fully understand product availability needs, forecasted demands, the value of goods purchased, etc. In order to accomplish this feat, the inventory system must be entirely integrated with every other enterprise resource planning (ERP) system used within an organization, from accounting to customer relationship management (CRM). An fully integrated inventory management system will significantly improve warehouse efficiency, minimize costs and boost profits, and allow the fastest order fulfillment and delivery imaginable today.
Inventory Software Benefits Both Business and Customer
Today’s top integrated inventory management software helps wholesale distributors, manufacturers, and retailers practice cost-effective stock management through accurate analytics, automated processes, and warehouse optimization capabilities. A real-time inventory data analytics program utilizes the latest info from all over the warehouse, as well as any subsidiary locations and members of the supply chain. The insights generated by these analytics help distributors make smarter inventory management decisions and ensure that they keep the right amount of products in stock at all times. This practice is critical for not only reducing inventory costs and eliminating waste, but for providing top-notch customer service as well. After all, the customers can only purchase products from a business if those products are actually in stock. The ideal integrated inventory management system can help distributors guarantee that the fastest-selling products will always be available and priced competitively to guarantee the customer is getting the best deal on the item.
Integrated inventory management software can be supremely beneficial in other ways as well, as it opens the warehouse information system to every employee throughout the business. Although warehouse managers primarily need easy access to inventory data, virtually every member of an enterprise uses that data every day for a variety of tasks. Accountants need to know the value of every item in stock so they can quickly create and approve budgets for purchasing new materials. Sales staff cannot close deals without knowing the availability of products in the warehouse, so they must be able to check inventory availability in real-time. Customer service representatives frequently take calls that require a high level of knowledge about hundreds or even thousands of unique products, which is only feasible with a well-organized real-time inventory database. Ultimately, every moving part of a company needs some level of access to warehouse and inventory information in order to keep the organization running smoothly.
Get the Right Integrated Inventory Management System Today
SAP Business One is the fastest-selling integrated ERP system on the market today, chosen by small and mid-sized businesses (SMBs) all over the world. This outstanding business management software solution features seamless systems for every area of an enterprise, including accounting, CRM, inventory management, material requirements planning (MRP), e-commerce, and much more.
Cornerstone Consulting is the Florida business source for cutting edge SAP Business One solutions. We have provided SMBs all over the United States with unparalleled ERP software implementation and consulting services for more than 30 years. Connect with our certified SAP B1 consultants today for more information on our top-rated business optimization services, ERP demos, trials, and discounts on the SAP Business One system.