Is your warehouse costs burning a hole in your pocket? Let’s talk about ways to reduce that.
Over the past two years we have seen a great boost to the small business sector. Worldwide lockdown provided the spark needed to re-vitalize businesses, propelling the logistics industry to a point to where it is still taking UPS and FedEX way too long to deliver my Amazon Packages.
If behemoths like UPS and FedEx struggle with their internal supply chains, then how do the small to medium sized businesses fare? In short, they’re running out of product faster than they can get their orders out the door. Aside from the pandemic, there are other factors that considerably harms the supply chain of SMB businesses. One is the management of inventory.
Managing inventory can be costly. Paying for warehousing, accounting for broken and lost items, degradation of products over time, and quality control can be expensive – especially when adding new products to your line of goods. One small mistake can cost upwards of 35% in unnecessary inventory management costs, which can cripple a business.
So how can Dataseti’s STOCKROOM 360 help with some of these issues?
1. Avoid Understocking
Keeping track of inventory via Microsoft Excel is cheap, but I have always said that you get what you pay for. We all get busy, there’s no doubt about that, and somedays you may be pulled in one direction to where your focus isn’t on checking inventory, and all of a sudden, you’re out of Hershey’s chocolate bars for your number 1 requested item, the triple chocolate fudge brownie upside down cake. That is a position you don’t want to be in. Instead, STOCKROOM 360 can be formatted to send you automatic alerts as your inventory goes below a certain threshold. That way you will receive an email to re-order those chocolate bars.
Let’s say you choose not to use a cloud based IM system, what’s the harm? Well, if you didn’t have the automatic notifications option you could be faced with paying for expedited shipping. Shipping is crazy expensive as is, and we all know the price difference from shipping something ground versus Next Day Air is astronomical.
2. Avoid Overstocking
Suppliers often like to offer larger discounts for higher volume orders, deals on new and promotional items, and even free products on certain orders. You can’t say no to a good deal right? In certain situations, you would be wrong. If you were to make a large order of inventory to fill your warehouse, and you hit a slow period of sales, you will be left what’s known as deadstock. That is the price of paying for products that are sitting in storage.
Outdated systems such as Microsoft Excel might not be able to provide the proper reports to tell you exactly how much stock you have in your warehouses, or even the value of that inventory. With STOCKROOM 360 you will have all this information at your fingertips! You will be able to prevent deadstock by seeing at an instant information that would prevent overstocking! Now, should you still get into this situation, STOCKROOM 360 could help you as well…
3. Extend your Inventory’s Capabilities
Imagine taking the huge list of things you have and making that data accessible to everything. STOCKROOM 360 automates your data, inventory and business by connecting to almost every other cloud system out there. Understocked? Your vendors can be notified. Overstocked? Your customers can be notified. Spend less time in the office micromanaging your counts, and more time with what matters more.
Conclusion
STOCKROOM 360 helps companies run smarter with real-time updates on stock movements between all your warehouses. You and your team no longer need to dedicate hours each day manually managing stock levels.
STOCKROOM 360 also helps companies optimize their inventory management with a vast, fully integrated app ecosystem. Connect your inventory management with multiple sales channels, accounting, shipping, fulfillment apps, and more to sell everywhere your customers are.
Here at Dataseti, we put your interests first, and by moving over to a cloud based inventory management system like STOCKROOM 360, you will be able to take control of your inventory costs and start saving your company some time and money when it comes to logistics.
Contact us today to see a demo of STOCKROOM, and to be blow away by its simplicity!
Thomas O’Donnell – Dataseti
