Using an Inventory Management System Can Help Prevent Excess Inventory
Inventory Management System
Most successful businesses today are confronted with many difficult challenges. The hardest operational challenge to face is striving to meet the supply chain changes, requirements, and compliance regulations. There are many solutions out there, but a Warehouse Management System (WMS) is probably the one that can help you tackle these challenges in a real-time, warehouse environment that you can trust. Investing in an Inventory Management System can make all the difference, here’s how:
Tracking Customers & Orders
Managing your customers’ expectations is essential – that’s Customer Service 101. Your warehouse plays a huge role in making sure your customers’ buying experience goes as smoothly as possible. Providing the best customer service means, ensuring products ordered are in stock and that customers get what they purchased. An Inventory Management System will help you organize and track shipments easier through advanced automation. Real-time information and lead tracking will lead to increased accuracy with shipments and reduce the number of customer service calls.
Higher Productivity
Meeting productivity goals is essential and how efficient the operations are within your warehouse is key to achieving peak productivity. Adding in the components of an inventory management system will help your supply chain achieve efficiency, consistency, and quality control by moving goods through your warehouse at maximum speed. This type of system can also improve your sales and increase profits by selling faster and more accurately to customers. The existing warehouse employees are able to pick and receive more items in less time, with fewer mistakes. This accuracy and precision will help reduce customer inquiries and simplify the customer support process.
Managing Inventory Levels
An Inventory Management System decreases inventory levels when necessary which leads to improving fulfillment and shortening order time. Better tracking will help you monitor every product or unit at a high level of detail. Inventory management will happen in a much faster, easier and efficient way and there will not be as much of an accumulation of excess inventory. Real-time information and quick, accurate feedback will be built-in so you can respond faster to the demand of your customers. This system will allow distributors and wholesalers to know exactly what is in the warehouse, where it is located, and when it needs to be replenished at all times.
Compliance Regulations
Remaining compliant with the consistently changing supply chain changes and standards and government regulations is a struggle. Balancing that goal with also trying to meet consumer demands and yet still remain competitive. An Inventory Management System has the essential tools to help you achieve compliance with regulations. Real-time recording and tracking of data, better business intelligence and automated solutions are all part of what this type of system can do.
The key to all of this is that no matter the size of your business, the type of industry you’re in, or the type of products you manufacture, it’s crucial that you better prepare your company to face one of the biggest challenges of today – excess inventory. Once it’s accumulated in your warehouse, it’s very hard to decide what to do with it. Most likely, you’re paying money to store it when you can choose to hire a third-party to help you deal with it.
AECI is a warehouse solutions service provider and we’ve succeeded in helping our customers handle their excess inventory. Whether it’s able to be resold, recycled or disposed of, we are here to help you manage the process. Contact us today for more information on our services.
