Inventory management is only getting more and more complex, as more products are being pushed online. By finding the right inventory management company that offers services for picking, packing, and shipping, you’ll be able to ensure that your warehouse works as efficiently as possible.
Keep Track of Inventory and Stock
The most essential thing that warehouses, small businesses, and online stores need to do is keep an accurate inventory. Some industries will have a greater need for this than others, but with the right software, your company can track inventory in seamless and simple ways.
Cycle counting is a great tool for keeping track of inventory as well, but if your business grows, it can get to be difficult to cycle count efficiently. When you find your business too large to cycle count, it’s probably time to integrate software into every part of your operation.
Manage Incoming Orders
Along with keeping track of the inventory you have on the shelf, products like topShelf from Scout allow you to automate incoming orders. This is done through integrations with products like Salesforce and Shopify.
You’ll be able to pick the ordered item easily and automatically update the customer when the item ships. Better yet, topShelf can help keep your Shopify page up to date with the number of items you have left in stock.
Efficiently Pick, Pack, and Ship
Automation isn’t just something that works well with your smartphones and computers. It can also help you run your warehouse more effectively. No more need to manually search through the warehouse aisles to find the right items for the shipment. Get updates as orders come in, pick the items with ease, and then ship them with tracking information for your customers. You won’t have to be left guessing. Every item will have a digital footprint in your records from the day it comes in, to the day it goes out.
Manage Shipping and Meet Customer Expectations
With the rise of Amazon, same-day shipping, next day delivery, and other luxury shipping experiences, managing shipments and meeting customer expectations can be difficult. People want their orders, and they only seem to want them faster and faster as time goes on. While some requests aren’t easy to fulfill quickly, such as items that need to be customized or made specifically for the customers, other inventory items should be able to ship quickly.
One of the biggest obstacles when it comes to shipping quickly is orders being backed up. With the right warehouse organization, you’ll be able to get back on track and, in turn, provide faster and more reliable service.
Forecast and Plan for Market Changes by Analyzing Data
Depending on the industry, markets can be hard to predict. There’s so much that can change from day-to-day. Trends and economic changes pose to break up consumer patterns and make things difficult to predict. If you’ve struggled with forecasting and planning for market changes, you might consider analyzing some key data points.
First off, it’s important to understand what items are selling well and why. Does it have something to do with a trend? Can you track it in some way? Maybe a celebrity wore a similar shirt or the holidays are coming soon. By forecasting data for different products, you’ll be able to put a good purchase plan together and keep your business selling products without running out or over purchasing.
Control Costs by Understanding Market Data
Controlling costs has a lot to do with understanding the market for your product. Some products are going to stop selling or slow to the point that they aren’t profitable. If you’re not on top of your inventory systems, you may miss this for months. For some companies, that means they’re over-purchasing, letting expensive products sit for too long, or losing money because their effort isn’t on their most profitable products.
Understanding the market data for your products will allow you to cut costs and become significantly more efficient.
You might find yourself thinking of all the things you’d like to improve in your warehouse now. That’s great! While you’re at it, consider looking into Scout for your software and warehouse management needs. We’d be happy to offer you some free trial solutions or work with you to get a new system installed and up and running.