Tips to Improve Your Company’s Cash Flow
Posted by Kevin Reynolds on May 3, 2013
Efficient inventory management is essential for maintaining a healthy bottom line. Sluggish fulfillment and inefficient replenishment both produce a negative impact on your cash flow. Managers working with QuickBooks accounting systems often rely on makeshift solutions like spreadsheets and manual counts to monitor inventory levels.
Working with multiple warehouses that have various demand fluctuations can further complicate tracking and distribution activities. Integration streamlines inventory management—improving the customer experience and reducing costs.
Manage Multiple Locations Simultaneously
Rapid Inventory puts control back in your hands by reducing costs from procurement through fulfillment. Whether you warehouse one specialty product or hundreds of different products with unique inventory and barcode numbers, you can implement tracking based on a full spectrum of variables including:
- Purchase order history
- Shipping costs
- Lot number
- Expiration date
Reduce Expenses with Real-Time Tracking
One key aspect of utilizing the Rapid Inventory solution is the ability to respond to demand-based replenishment cycle fluctuations. Your employees will be able to reduce lag-time, drastically cut back-order and out-of-stock situations and use geographical data to streamline distribution functions.
In addition, assigning expiration dates to inventory items gives you tighter control with tracking features that allow you to monitor delivery times closely. Flexibility that allows you to choose whether to track first-in-first-out or first-
Routine tasks such as receiving, counting, pulling and moving inventory are more economical with an integrated system than using a paper trail or spreadsheet method. There is less room for error and it’s easier to identify low stock levels quickly.
You don’t have to give up QuickBooks to maintain an efficient warehouse management system. Management tools that offer simplicity, flexibility and greater control boost employee morale and increase cash flow.