Where’s my Keys? Where’s my Phone?

This happens to everyone and it’s so annoying!

Misplacing your keys and phone is all too common and very annoying and happens when you least expect it and at a very inconvenient time. Let’s face it in today’s fast-paced world anything that hinders us and wastes our time is annoying but overcoming it can be very straightforward with a little organisation.

Managing Inventory in Retail, Wholesale and eCommerce

In the world of retail, wholesale and eCommerce, very much like your keys and phone, goods and products can go missing which again is also very annoying but this time it impacts hugely on your business – missing stock costs you money, is a nightmare for your warehouse and causes headaches for your customer services team.

Implementing an Effective Inventory Management System

The answer lies in implementing a system that organises and knows exactly where your stock is located at all times. An effective real-time warehouse management system (WMS) with integrated order management and product information management is key to achieving this.

Businesses that automate their inventory management processes can reduce labor costs by 30% and decrease inventory holding costs by 25% – Aberdeen Group, 2022

Challenges with Manual Inventory Management

Losing stock is a frequent issue for businesses using manual inventory management methods, for example, spreadsheets and paper-based systems. This can lead to frustration and cost implications when items are misplaced within the warehouse and always when you least expect and need it. However, integrating an order and inventory control system can transform your inventory control, making it a seamless process that saves time, minimises errors, and increases customer satisfaction by ensuring goods are never lost again.

Benefits of a Real-Time Inventory Management System

Such a system effectively monitors and controls inventory in real-time from sale to dispatch – providing a full audit trail. It simplifies stock management through precise bin location management by optimising storage to use space efficiently and reduce retrieval times. Real-time data ensures stock levels are immediately updated across all sales channels, so you’ll never lose sight of your stock again!

28% of companies lack visibility of stock across stores and warehouses, leading to inefficiencies and lost sales opportunities – Shopify.

Automation and Efficiency

Barcode scanning automates tasks, for example, purchasing and stock replenishment and the overall management of optimum stock levels by improving efficiency and reducing errors. Composite items are effectively managed by automatically updating stock levels for both the composite items and their components as and when they are purchased, sold or returned – again all in real-time.

Moving to a paperless picking solution has been shown to reduce picking errors to below 1%.