Inventory Management Benefits
- Increased Transparency: you will know in real-time when items are received, picked, packed, shipped, kitted, assembled, etc. You will also know in real-time when you need to order more when you’re over-stocked, or under-stocked.
- Lower Operational Costs: effective implementation of an inventory management system will result in decreased inventory write-offs. Carrying extra inventory can be very costly.
- Increased Sales: businesses that actively manage their inventory in real-time could increase sales up to 10%.
- Shorten Lead Times: businesses who actively manage their inventory report a 50% reduction in lead times.
- Improved Performance: real-time inventory updates improve the flow of goods to your customers.
- Increased Employee Efficiency: inventory management solution saves time. Less time spent on managing inventory results in greater productivity for you.
- Accurate Planning: always have the right amount of products on hand by making decisions based on real-time information and inventory trend.
- Increased Inventory Turnover: optimize the value of goods you have and increase inventory turnover by keeping fewer slow-moving products on hand while increasing your stock levels on profitable goods.