At the centre of an office inventory system is the customer. His/ her/ Their requirement is what is tried to be catered here with a great inventory tracking software. Among others, the office inventory tracking software does some incredible things that includes
- Keeping track of how much inventory is available, and where. These are times of multi-channel marketing where one has to maintain stock for varied platforms from e-commerce to drop-shipping to one’s own shop/ outlet. With such a vast variety of outlets, it would be rather difficult to keep track of inventory. The only way possible is to have an inventory management software of the latest kind- preferably cloud-based so that one is always in a position to know for sure which channel accounts for how much inventory.
- Inventory management software or of that matter any software with the backing of AI and machine-learning can make out fairly accurately what the needs are of a customer across time-frames and situations. That being so, life becomes easy for a marketer to know with accuracy what a customer wants, and how best to handle for continued customer delight. In the end, it could be one of the reasons behind the customer being with a marketer over year- the exact knowledge of what inventory is required and when!
- Inventory management software can easily track the movement cycles of each product which means it can differentiate between fast and slow-moving goods in inventory. This information can go a long way in letting the management plan by way of either curtailing slow-moving inventory or tweaking with their formulation to bring them at par with others. These besides, the inventory management software can make a whole load of change in the production composition of a producer, directly affecting raw material off-take and credit terms. In short, an efficient inventory management software can make a huge difference in the profitability of an organization.
- Following from the above, the marketer can have differentiated sales contracts for both raw materials inwards and finished goods outwards given that the inventory management software would provide accurate information re the use of raw materials that would besides increasing profitability, could make an organization leaner in its operations. Even the likes of warehousing space can be affected positively with the use of the right inventory tracking software.
- The right inventory management software can help to bring in the right logistics and warehousing support instead of letting cargo and raw material lie all over the place and incur demurrage and detention costs. Logistics space that built as per needs are expensive either to own or to rent. That being so, know exactly how much space is needed when and with what equipment can make the difference between a profitable company and one that makes amazing profits despite tight circumstances.
- The right inventory management software can help any marketer easily cater to the needs of any channel, new or old. While knowing the needs of every channel of an enterprise, the software can in fact make space for newer initiatives and ideas like drop-shipping that take care of very, very specific needs of customers.
An inventory management software is then a need of any enterprise and not a luxury anymore. With competition being the way it is, it’s just a question of time before every marketer goes for some or the other such software. That being so, it makes sense to get the best and derive the most!