An Overview of an Intuitive Inventory Management

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17 August 2017

Technology

intuitive inventory management

The role of intuitive management software is to track orders, processes, sales, inventory levels, and deliveries. It is also crucial in creating documentation that relates to the production of work orders and bills of materials. Businesses use this solution to avoid product overstocking. The main benefit of inventory management includes tracking trends, upgraded data, security, enhanced efficiency, reduced costs, and warehouse organization.

Additionally, inventory management system does not operate in a storage facility because it works towards impacting profitability and the sales of the company. It needs to be integrated and bundled with other business processes like CRM, ERP, shipping, and accounting.

Do you require this system? Yes, to enhance the overall profitability and efficiency so that you can ride on future trends like the Internet of Things that help to boost business performance. Cloud connectivity of your product will speed up the order of fulfilling repeat sales cycles. Your manual services cannot match the industry requirements, and it is time you shift to intuitive inventory management software. This system also centralizes and consolidates several business processes.

Read also: Tips To Choose The Best Inventory Management Software

The intuitive management system does not need to be complex

Your business does not need to have a complex inventory system just because it has complex inventory processes. An intuitive design of the system needs to give it a user-friendly interface that simplifies the management of inventory. The complexity of your inventory processes does not matter because they make all steps of management straightforward.

Eliminate non-value-adding functionality

An intuitive inventory management system needs to be customizable to allow you to eliminate functionality that is not adding any value. You need an out-of-the-box system that is built with solutions that will satisfy the requirements of the companies using it. It needs to have all the requirements a system needs to offer regardless of the firm requires them or not. Unused features will end up hindering the levels of productivity by making navigation difficult after cluttering the system.

The right system needs clear functionalities that base on a user-to-user. Your staff will work inefficiently when the required tools are easily accessible and readily available. The system makes the completion of tasks a straightforward practice because you can access the required features.

Managing tasks easily

The design of the right intuitive management system makes it easy to navigate and complete tasks. All tasks in the queue appear on the system’s homepage in the to-do list. You can customize tasks that appear on the to-do list to fit the specific workflow of your firm. Common processes or tasks which appear on the to-do list include shipping, pick and pack, acknowledgments, inspections, and issues. Additionally, the overview of all outbound and inbound orders show the total number of items that are shipping, need an inspection, have issues, billing, or receiving. Completing day-to-day tasks and navigating the system becomes simple.

Achieving intuitive inventory management

Intuitive inventory management is among the most important aspects of determining the financial health of your business. Managing your inventory intuitively and learning techniques of fulfilling orders and receiving shipments can be done with the help of an inventory system. The system of controlling your inventory involves implementing a process and system designed to give a broad view and immediate awareness of your items.

All the info you require is found in the central database that makes tracking, receiving, organizing, and ordering inventory more efficient, more convenient, and less time-consuming. Efficiency reduces money and time and reduces the chances of over-ordering.

What is the importance of good inventory control?

Using intuitive inventory control is more than purchasing a product to replace the old version. The idea of adopting good inventory control is that you will know what to purchase, how and when to make the purchase. Robust management software will give you the required knowledge through its reporting tools. Since it possesses a centralized database, this system has the awareness of what is getting in and what is going out. Since the data is updated and shown in real-time, the numbers gotten will be in real-time, and no decisions will be made without evidence.

Nowadays, surplus inventory is affecting businesses and increases their costs. The loss of working cash, cost of products, cost of additional labor to control this inventory, and the expense of holding this inventory eats into the basic profits.

How do you get intuitive with your system?

Intuitive inventory management involves automation. You can set this system to send alerts in case something happens. The supervisor can get an email when the inventory item attains its safe stock level. The manager will also get an alert when a particular company places an order exceeding a certain amount of money. This system reports and alerts you with customized info that will keep you apprised of every important inventory situation. Possessing this info will allow you to take necessary action without looking at numbers. You will jointly come up with strategies for identifying opportunities to retain and grow the customers base and reduce costs.

Key features of an intuitive inventory management

If you want to appreciate the features of a reliable solution, it is vital to understand the things that comprise a robust, intuitive inventory management system.

Order management

It monitors the placement of orders and gives you alerts to restock based on the preset levels. You can use it to manage stocks at cost0effective levels that will help you minimize costs and anticipate revenues.

Tracking

It monitors products that are in stock through bar codes or serial numbers, batch labels, or lot numbers.

Purchasing management

It features purchase history, processes reorders, and costs associated.

Sales management

It manages invoices, receipts, and quotations

Product catalog

It acts as the central hub for product specification like inventory optimization

Manufacturing inventory

It handles particular manufacturers’ requirements like kitting assembly, work orders, and job costing.

Examples of intuitive management software

Brightpearl

Brightpearl is an intuitive inventory management system that firms use to manage crucial processes like orders, accounting, inventory, reporting, and customer data in one location. Additionally, this application gives real-time reports on the buying behavior of customers, profitability, inventory, cash flow, and much more.

This system integrates with Bigcommerce, Magento, Amazon, Shopify to give the company access to many channels that expand the business. It also has an inbuilt reporting and accounting system that goes down to the channels and customer levels. The owner has tied with several shipping carriers to ensure timely and accurate shipment.

LoMag inventory

LoMag inventory management system assists businesses to automate inventory management, orders, and track delivery. This system is ideal for e-commerce businesses of all scales. It also integrates well with cloud retailers and shipping systems. It facilitates complete tracking of inventory from ordering to delivery. This system offers tracking services for mobile devices that have Android and iOS software. Using this system is quite cheap compared with other inventory management solutions.

Managing work-in-progress, raw materials, and finished goods is critical to the whole process of managing your inventory. Accessing data allows you to track levels of inventory by location, item, historical usage, and product family. Employing an intuitive inventory management system will help increase user productivity and simplify daily inventory transactions with automated features for routine tasks. The right system will give everything you need to control all transactions, material usage, and cost of the products

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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