Inventory management is vital to your business’s health and success. How else can you keep it organized and running to meet the needs of your customers?
You might have found that this type of management has the potential to turn into a full time job of its own. With all the various hats distributors and manufacturers have to wear, this side of the business can be a real headache and source of frequent problems.
And let’s face it: If you have a problem here, you have a problem everywhere. Unfortunately, many things can go wrong and these kinds of issues can even tank your business in the long run.
To get the root of the issue, we’ll first need to take a look at some of the biggest pains for those who work in and with inventory.
Common Issues Found in Inventory Management
The associated pain points are pretty serious. Even if you’re a master of systems and processes, you’ve probably faced at least one or more of the following problems:
- General errors
- Lost items
- Sale losses
- Expensive write offs
- Not enough in stock
- Lost and wasted time, resources and/or money
- Unexpected costs
- Lost information through manual input and management
- Domino effect of problems that spiral out of control
If you’re manually taking care of your inventory, you’re probably dealing with a need for constant changes to improve. Or perhaps, you’re limited by a program that won’t let you manage multiple warehouses.
No matter your scenario, there comes a time for many when the current management system no longer serves its purpose and the need to expand is evident.
Let’s jump right into how you can make your inventory a vital wheel in the machine that is your business again.
What to Look For in Your New Inventory Management Product
If you’ve been working with inventory for awhile, you know bringing in a new management system requires care and expertise. The last thing you want to do is replace what isn’t working with another program that doesn’t solve your problems.
Before beginning the process, you’ll need to take a different kind of inventory. Poll everyone who comes in contact with your inventory & put together a list of what works in your current system and areas for improvement. Highlight the must-have functions you want to see in your new software.
When searching for a solution, be sure to keep these capabilities in mind:
- Ability to manage multiple warehouses
- Backed by real time software
- Customization to suit the unique needs of your organization
- User friendly with an easy to use interface
- Tracking for receipt, movement, location, sale, removal and disposition of goods
- Kitting capabilities
- Dual grid data entry to streamline your workflow
- Detailed merchandise information
- Barcode inventory capabilities
- Supported and sold by a local vendor
As you know, your inventory management product has to be able to do many things, and do them well. Plus, you’ll want a system that can be easily used by various members of your team.
For software that’s both intuitive and customizable, there’s Sage 100. Sage has been designed to increase the success of your business through multiple facets including organization and profitability.
SYGNVS offers Sage 100 as well as SAGE FAS for your fixed assets management, SAGE HRMS for your human resources needs and SAGE CRM for managing customer relationships.
To learn more about this inventory management system and how it can benefit your organization, get in touch with SYGNVS today. Our team of experts will be happy to walk you through the program and discuss its superior capabilities with you.