Are you handling inventory in the best way possible? Inventory management is imperative to your business success. Your order fulfillment objectives will be compromised if you don’t have enough raw materials in the warehouse. Insufficient stock level also means your factory and labor are underutilized; you’re incurring expense without actually producing anything.
Inventory management is not easy, unless you invest the time to develop an understanding of the factors that affect your inventory management decisions.
Lack of insights and information about availability and pricing of items.
Field engineers struggles to get correct data about stock on the field.
poor service levels will negatively impact customer perception of your brand.
Manual entry updates leads a lot waste of time & inaccurate information
Tracking and analyzing demand changes and trends help companies accurately forecast for future orders.
Failure to track demand can lead to a lower than expected product turnover