By Patricia Eftenoiu
CentralBOS
Managing inventory is not an easy task, however it’s an essential part of a successful business. The larger your business, the more you need to invest in warehouse inventory management. A proper organizational approach and solid software tools can make this ongoing cycle more easily managed.
As your business becomes more profitable and begins to expand, the demand for your products increases and the need for opening new warehouses will present itself. The logistics for managing a single, but hectic warehouse can be a handful, but just imagine what managing multiple warehouses adds to your operational complexity. While the temptation may be to simply maintain the “status-quo” and avoid expanding, due to concerns about added operational considerations and extra costs and more to manage. On the flipside of that “status-quo” consideration, it could be lost growth and revenue opportunities, lost customers and even furthering competitive pressures. To help Distributors and Wholesalers take advantage of this type of market opportunity, the CBOS ERP Solution offers Inventory Management across multiple warehouses, which can provide the Distributor / Wholesaler with an opportunity to seize these situations while also providing control of their operations, and even enabling the business to offer additional services like Warehousing product for clients. Here are the top four benefits of using CBOS to manage your multi-warehouses inventory:
1. Real-time data Tracking
In order for businesses to be able to make decisions about Inventory, its pricing as well as to avoid delays and wasting time searching for misplaced items, a warehouse’s information about products (location, quantity, price, replenishment status) needs to be synchronized and available real-time. When a business does that manually or using a disconnected, legacy solution, the risk of making mistakes, over or under ordering for replenishment purposes or not being able to deliver delivering orders to clients in a timely manner increases and creates an opening for competitors. The CBOS solution provides real-time updates on all of your warehouses’ activities, which gives the management more control over operations and associated decision-making.
2. Increased control of Inventory and associated operations
The CBOS solution aids managers by updating and tracking inventory moves within each warehouse. This allows the manager to make accurate decisions about replenishment, product mix and product location to optimize the warehouse operations relative to new and existing customer needs. With CBOS’ highly secure, real-time cloud-based Inventory solution, whether managers are away from or in the office, they have control over each aspect of the Inventory they can make decisions about replenishment, vendor management and pricing, and product location.
3. Optimizing Inventory stock levels
Based on a variety of factors including the geographic demand for the products, customer service levels, Supplier volume purchase incentives, each warehouse location or the mix of multiple warehouses may dictate different levels of inventory and associated replenishment considerations. The data provided by the CBOS Inventory and Warehouse Management system provides an overview of the most demanded products and any seasonality or cyclical considerations for product usage by clients. This allows management to make the best decisions around inventory investments, which positions growth and margin ability for the Distributor or Wholesaler.
4. Increasing Customer Satisfaction
Offering customers the best service possible is a top priority for any Distributor or Wholesaler. Doing the Dealing with manual or legacy inventory solutions often leads to mistakes typically manifested by out of stock or misplaced product, and ultimately costing the business time and money. With the CBOS Inventory Management solution, integrated with CBOS Sales Order Management and tied into the back-end CBOSO GL and Financial Reporting, you’ve got a complete solution that provides visibility into customer inventory needs, the management of inventory across multiple warehouses and ultimately a clear picture of the financial implication of product by customer, by product or by vendor – which leads to great decision-making and optimization of the inventory investments.
SCHEDULE A FREE DEMO WITH CBOS and learn about how CBOS can help your business more effectively manage inventory across multiple warehouses.