Does My Company Need Inventory Management?

Does My Company Need Inventory Management?

By PRG (493 words)
Posted in Application Development on November 21, 2016

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Got a company? Got stock and/or inventory? Then you need an inventory management system. While that’s really the best answer to the question, “Does my company need inventory management?”, we thought we’d break it down for you just why having a digital inventory management system is a good idea.

Reason #1: You know where everything is at all times

This is the most important aspect of inventory management and why having a digital inventory management system makes real sense. No matter how large or small your business is, an inventory management system will make your internal operations much more efficient.

With an inventory management system, you’ll never again have to wander down to a shelf if you want to see if an item is in stock, or trawl through old receipts trying to see when it’s been ordered and when it’s coming in. In the software, you’ll be able to see all items in stock and where they’re located.

Reason #2: You can track sales patterns and make decisions based on them

It’s always tough doing business and trying to figure out when you need to do reordering, when you need to discontinue items, or when you need to buy up big. By using inventory management systems, you’re able to draw charts and graphs of how your sales are doing with ease, which can indicate what you need to do with your stock in terms of ordering.

Reason #3: It makes reordering simple

With the right system, you can even set up your inventory management systems to automatically place orders when you‘re running low on stock and based on previous sales patterns. This way, you’ll never run out of what your customers are after, and you’ll never have to do rush jobs with suppliers.

Reason #4: Less man hours are required

Less physical checking, less going through old receipts, correspondence, paperwork… An inventory management system keeps everything in the one place. This means that it’s infinitely easier to check out details or look up items, all in one place. With a cloud inventory management system, you can even access it anywhere, anytime, on any Internet-capable device! Even if you’re at home and need to check up on something, it’s all possible. What this means is far, far less man hours being spent doing traditional inventory management tasks.

Do you need an inventory management system?

If your business doesn’t already have a digital inventory management system, then it’s time to make sure that you’re keeping up. You can either purchase commercial cloud solutions that may be good for very small businesses, or look to get your own custom inventory management system built – and that’s where we come in.

At PRG, we’ve got a wealth of experience in building inventory management systems and other business applications for a wide range of industries. Reach out and get in touch to hear more about how we can help your business.

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