INVENTORY MANAGEMENT SYSTEM (IMS)
Inventory management systems rack goods through the entire supply chain or the portion of it a business operates in. That covers everything from production to retail, warehousing to shipping, and all the movements of stock and parts between. Practically, it means a business can see all the small moving parts of its operations, allowing it to make better decisions and investments. Different inventory managers focus on different parts of the supply chain—though small businesses are usually more interested in the ordering and sales end of the chain.
Product Highlights
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Centralized Storage
The more stock locations you have to govern, the more difficult it becomes to manage orders and direct products to the right customers. With an adequate warehouse tool in place, you will be able to track the availability of all products and services, and thus maintain customers promptly informed on the status of their orders. -
Efficient Stock Operations
Good inventory management is the founding pillar of any healthy retail business, as it saves both the time and effort needed to manage stock manually. With a collaborative system in action, your employees will no longer write daily reports and run back-and-forth through them to give customers an answer, but rather have data ready and regularly updated on their devices. -
Enhanced Sales Productivity
Many companies report significant improvement of their closed deal rates upon implementing their first inventory management solution. This is so because accurate inventory prevents you from losing customers, and minimizes common human mistakes such as reporting products out of stock and referring clients to different stores. -
Intime Delivery
The core benefit of using inventory management software is being able to hit delivery deadlines, and preventing customers from waiting ages for their shipment to arrive. Advanced programs will even involve them in the process, giving them a realistic picture of the status of their order, and allowing them to track the product’s movement from purchase to arrival.
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Adjusted Order Frequency
Despite of distributors perceiving stock shortages to be the worst possible scenarios, we’d ascribe that attribute to overstocks. Leaving products to waste or paying for their storage and maintenance is where businesses lose the most of their money, and that’s why inventory management software is so useful. Being able to track their actual stock supplies, companies can re-order from vendors in the right moment, or adjust the order frequency in a more suitable manner. -
No more hidden costs
Another competitive edge of good inventory systems is that they adjust easily to sudden spikes in your sales, and you get to tweak them in line with sudden spikes and drops. For the purpose, you won’t have to pay extra storage fees, while in the best possible scenario you will also get a product that prepares, packs, and ships products for you. -
Satisfied Customers
With personalized service and accurate responses at any moment of time, your customers will be more satisfied than ever. They will be able to track the status of shipped orders, without facing the risk of a late notice that the product they expect is no longer available. -
Integration with back office system
Improves the communication and interaction of doctors with their patients. -
Accurate Planning and forecasting
Inventory management systems help you plan ahead and become more proactive, as they track the status of your products, manage negative trends and opportunities, and retrieve vital historical data to predict the progress of your sales. In fact, inventory tools are most of the time packed with analytic features that free your time, and still pull off all important indicators that measure your productivity.s
