Are you making good use of technology to manage your stock control? If not, you’re missing out on ways to increase efficiency and keep costs down, not to mention making your customers happy. Here are five great reasons to invest in the latest tech.
Stock management technology enables you to assess your inventory and calculate exactly what you need. For example, you can see if a particular product is flying off the shelves and order more in plenty of time to avoid that “out of stock” label. You can also determine which products aren’t as popular and avoid having an excess in store. Regular reports give you an overview of the latest trends and help you ensure your customers can get exactly what they need.
When stock-taking is streamlined using stock control software, staff need less time to accomplish such tasks. Technology such as barcode scanners helps eradicate human error and enables employees to concentrate on other functions.
Technology makes it much easier to manage items as they are moved between locations, ensuring all stock lists are accurate and supply meets demand in every area. Manual processes are minimised, and warehouses and shops benefit from improved productivity.
Stock management systems help track products at every stage, from their arrival from suppliers through their warehouse or shop location to customer dispatch. If you have a large warehouse or multiple locations with a lot of stock always on the move, this saves time and enables you to get the right items to the right places, right down to individual part bins.
With ecommerce leading to more warehouses, it’s crucial to organise stock strategically. By pinpointing popular or seasonal items, stock control technology helps you organise your warehouse, which means your staff can find products quickly and logically and the latest stock can be placed on the best shelf or in the most sensible part bins to maintain maximum efficiency.
All of the benefits above come down to one overall aim: satisfied customers. By using stock management technology to improve inventory accuracy and reduce manual tasks like ticking individual items off a list, customers can order products and be confident of receiving them in an efficient and speedy manner. A happy customer is usually a repeat customer!