Choosing The Right Inventory Management System For Your Needs
Believe it or not, tracking and managing inventory is one of the most time-consuming and labor-intensive tasks that your business probably faces. However, it is also incredibly important. With huge volumes of inventory being carried by businesses these days, this could mean a software solution is the most appropriate. However, you may also be surprised to learn this task can be outsourced to a reliable and cost-effective service team. Here are some considerations for choosing the right inventory management system for your needs.
Main Focus Is Inventory:
No matter which type of management system you are initially attracted to, inventory must be the main focus. This means that you can not only have easy access to sales and tracking, but also be able to establish stock level alerts (to know when to re-order), quickly add new items to the system, account for back orders, and even generate purchase orders as needed.
Grows With Your Business:
Your inventory management solution must be able to grow with your business. This means, in the case of software, that it is a modular system with a strong potential for future expansion and additional equipment. If you are looking into an actual management service, the company should be able to help you even with high inventory levels and an expanded number of SKU’s.
Affordability:
No matter what the solution, it needs to be affordable. This means you should always ask a lot of questions of your inventory management solution or service. Know exactly which components are included (ask to see a contract first) and how much service you will receive. You should also investigate the procedures for how to actually use the system. For example, if a customer calls about a problem with their order, can you get into the software (or contact the management service) easily in order to find out what is going on?
Integrates With Existing Operations:
Your perfect inventory management system should also work well with your business. If you would need to make all kinds of changes in order to accommodate the solution it might not be a great idea. Then again, if you were already thinking of making many of those changes in preparation for future plans, it might be worthwhile of consideration.
Final Word:
Plan to spend a bit of time and research while looking for the best solution for your company. Certainly, this is an investment that can really pay off down the road. It will make your business more efficient and better able to handle expansion, if this is the direction you choose to go. For a FREE consultation to discuss your inventory management needs, contact Bonded Service today and fill out the online form.