Many businesses initially see stock management software as an easy way to manage inventory in storerooms, parts rooms, shipping and storage areas or perhaps on the retail floor. While this is certainly a big component of installing these types of automated systems, it is not the only advantage they offer a company or business.
To understand how stock or inventory management software can help your business, here are some of the often overlooked benefits of choosing automation and tracking over manual counts and data entry.
Fewer Errors, Omissions and Mistakes
Manual counting and data entry of inventory has always been the go-to option for any type of business. While this may seem as if it offers an effective, accurate and transparent way to keep track of inventory, it is actually one of the least reliable.
Information can easily be erroneously listed in inventory sheets, numbers transposed, mistakes made in counting or even counts entered under the wrong product codes. Each of these factors can result in significant problems for a retailer or business.
With stock management software everything coming in and going out of the business will be recorded through the software. Barcode scanners, RFID tags or other types of data tracking are used to provide accuracy in information on current stock levels item by item.
Customer Service and Pricing Accuracy
With the use of stock management software, sales reps can quickly verify inventory before placing an order, ensuring delivery without delay. Additionally, some systems can be set up to automatically place orders when inventory falls below a specific level, resulting in a much lower chance of a customer not finding the item they want in stock.
As one added feature, with some inventory management software, it is also possible to change pricing at all POS terminals from the central dashboard. This will prevent different prices at different locations, providing a better overall customer experience.
