3 Ways an Inventory Management Application Can Improve Your Operations

3 Ways an Inventory Management Application Can Improve Your Operations

By PRG (496 words)
Posted in Application Development on October 13, 2016

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Inventory management is a cornerstone of running a successful business. Without the right systems in place you don’t know where stock is, how much you’ve got, what is in transit, when orders went out… and it can take a long time to track down items that should otherwise be a cinch.

And while applications such as QuickBooks can be good for many small businesses, if you have complex systems and complex needs then you really need a custom inventory management application to help save you time and money, and provide insights into your business processes.

So how is a custom inventory management application going to improve your operations? Here’s how.

1. Built to your business – not built to fit as many businesses as possible

The problem with so many commercial off the shelf inventory management systems is that they are built so that they are going to sell the most copies. This means that they are built to encompass as many different businesses as possible. This in turn means that you’ll have a lot of elements that have no relevancy whatsoever to your organisation, and it will be missing bits that you need – which you’ll have to pay to build later on.

In a custom application it includes everything that your business needs – without any of the parts that you don’t need.

2. Improves record keeping for tax purposes

What happens at the end of financial year? Do you have to do a mad stocktake to check on where everything is? Do you have to pull in staff off task just to scramble around for record keeping – and at the end you’re not even sure if it’s right? What about if you get audited by the tax department?

With a good inventory management system in place you can already see where everything is at the click of a mouse – no fuss, no wasted time spent running around.

3. Historical data available for analysis

Do you know how much stock turnover you had last year? Do you know when you switched suppliers for a given item? How about which warehouse you used for which line and when? With a custom inventory management system, you have access to all your historical data, so you don’t have to be searching through emails or scratching your head to find out key historical facts about your business.

With a wealth of historical data, you can perform analysis on it, which can lead to finding out key information such as if transport times were faster with a different supplier, and how well utilized each of your warehouses have been over the course of the past year.

A custom inventory management application is a bold move forward towards both time and cost savings across your business. If you’re ready to step up and move forward towards a complex system that perfectly suits your business operations, then get in touch with us at PRG. We have a wealth of experience in building custom inventory management applications for businesses just like yours.

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