There is no limit to what dictates the need for an inventory management system. Maybe you’ve started a business in your basement or garage and your business has grown steadily. Now is the time to move into a bigger space or a legitimate warehouse. The pen and paper system that worked so well in the past is limiting your growth as you are faced with misplaced and missing inventory. Any or all of the cases that are noted above make you a prime candidate for an inventory management system.
The right inventory management system can aid a business large or small by tracking inventory, movement of inventory, tracking asset or lot inventory, reporting on loss, shipping and receiving. For a small organization the most critical point of having a system maybe tracking inventory.
Tracking of inventory in a digital system can give confidence to a small business and prevent overages and stagnant inventory. There is peace of mind knowing that your inventory is accounted for and you can see what inventory has been moved, shipped, or received with a time stamp by a user. If inventory goes “missing” there will be time stamps associated and a window of time when that discrepancy happened.
Larger organizations might take advantage of more advanced features of an inventory management system that envelope a larger scope of process like manufacturing or kit assembly. Work orders can be created and processes built that can account for a loss, spillage, and waste. Ingredients can be decremented and a finished product can be incremented in a way that the process is given visibility through reporting and audit trails. Setting up re-order points with high demand products can prevent low stock and missed sales.
Any inventory management system needs to integrate with e-commerce and CRM solutions so every contact in the business has visibility to inventory. For the small client this might be a Shopify store, Amazon or a multiple channel listing service. For larger customers this might be integrating with Salesforce or SAP. It is important that no matter the size of your organization that your new system integrates with the systems you already have in place.
Any business big or small can benefit from an inventory management system. Integrating with existing applications and setting up a business operations plan can help manage your inventory and assist with the growth plans. If you are a startup or a big business our topShelf solution fits any business.