But what can often get lost in the shuffle are the simple mechanics of inventory management. How do you get the most out of the system when you remove all the bells and whistles and get right to the core of inventory management?
This is what we are going to review today- the top three tips for clearly organizing your inventory management with software.
Note the Charts You Want
There is such a thing as too much information. You can have a wealth of reports sitting on your desk. But if all you ever do is review the stack in frustration (“I’ll get to it later”) there isn’t much point of having it.
Know what you want to track and how. What products are the best sellers? Make sure you prioritize a total cumulative sales chart. Do you have repeat customers? Compile a chart of for customer order numbers. You should prioritize the right kind of information so you aren’t buried in needless reports.
Revisit Your Product Categories
Take this opportunity to freshen up your product hierarchy and categories. Typically, small businesses have four main types of product categories in regards to inventory management: single item, assembly (requiring multiple components), family or nested, and bundled. The differences may be subtle, and you may not even need them all, but a clear set-up will be paramount for your continued success.
How often you rely on one over the other is entirely up to your business product structure. The point is to be familiar with them. Organize your products into areas which make sense and keep them that way. It’s not something you have to revisit often, or at all, if you manage to encompass the breadth of your product line simply and clearly.
If there is something you know you want to do, without a lot of compromise or adjustment, you should strive to automate it. The prime example with DEAR inventory management is the automatic restocking feature. This allows you to set a minimum stock count for a specific SKU. If the inventory goes lower, you reorder. No burden on you. No manual counting needed. It instantly tracks all stock levels, and automatically orders when needed based on the setting you provided.
This is an instant way to relieve time. Set up these automatic features so you aren’t struggling with going back into the platform more times than needed. Automations are practical, but also the most logical step forward for business growth.
DEAR inventory management helps get you the features you need to scale your operations, open up your schedule, receive concise data reports, and improve product flow. The addition of inventory management software could be the game changer you need to move up faster, better. Contact us for more information.