Regardless of what kind of business you run, one thing remains the same: you have to balance the amount of cash coming in against your losses. Admittedly, there are a lot of ways you can go about this. Using ERP software solutions, you can better manage human capital, shifting personnel, accounting, and other employee resources as your company evolves.
One of the biggest costs companies have to worry about is inventory. As About.com’s Logistics suggests, the cost of inventory breaks down into four main categories: capital, storage, inventory service, and inventory risk costs. When taken altogether, these issues come together to make up a huge amount of any business’ overhead costs. If you’re struggling to balance your inventory needs against your company’s fiscal realities, inventory control system software can help you find a cost-saving solution.
What Are the Benefits of Using Inventory Control Systems?
Prevent Employee Abuse
Unfortunately, employee abuse of inventory is a huge problem, especially if you’re struggling to keep your inventory costs at a manageable level. By keeping an accurate record of how much of each item you have in your inventory at any given time, you can catch employee abuse when you go through your regular audits. As The Houston Chronicle writes, business owners don’t realize how much dishonest employees are costing them until they start keeping a closer eye on things. Inventory control programs allow you to do exactly that.
Quicken Order Fulfillment
The biggest advantage of using inventory control systems is, perhaps, the improved order fulfillment time they grant. Consider, as Business 2 Community rightly points out, when customers place an order with your business, they expect fulfillment as soon as possible. Not only can inventory control systems help you meet expectations of speed, they can also help you improve fulfillment accuracy to 99%, both of which are essential to great customer service and continued cash flow.
Reduce Waste and Improve Profits
For SmallBizTrends.com, one of the biggest inventory-related costs businesses face is under-stocking or overstocking their warehouses. If you under-stock, you’re going to have trouble meeting orders as they come in. Likewise, if you overstock your supplies, you’re going to regularly be losing money to store inventory until it sells. Inventory control systems will alert you when you need to restock individual items, meaning you only spend money on product when you have to.
As you can clearly see, using inventory control systems can help you drastically cut your inventory costs. If you’re tired of wasting money on ineffective inventory management practices, now is the time to upgrade to a powerful, cost-cutting inventory control program.
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Founded in 1984, NSA’s 30 years of experience have taught us what works and, equally important, what does not. We understand that implementing a new software system isn’t your highest priority – running your business is. That is where we come in. We take the reins as much, or as little, as your company needs.