Everyone knows stock out means money in, but without a clear view of your goods from initial receipt to ship date, your company’s largest asset could be losing you money.
The key to an efficient and profitable business is total visibility into the stock process from start to finish, along with management tools to help you maintain optimal stock levels year-round. An effective stock management system helps you streamline all the moving parts of your warehouse—from recommending optimal stock levels all the way to keeping your supply chain organised and running smoothly.
Stock is usually one of the largest assets a company owns, which is why stock mismanagement is one of the top reasons small businesses fail.
Inefficient asset stock management can decrease your profitability in several ways:
Investing in an stock management system can yield excellent ROI. Not only does an stock management system make it easier to get your products to the customers who want them, it can provide valuable insights so that you’re ordering the right stock at the right time and in the right quantities.
Here are some examples of how investing in stock management pays off:
Order stock in the right quantities at the right time so that you’re never over- or under-stocked.
More productivity and less time wasted looking for missing items or tracking things by hand.
Well-managed stock leads to more efficient and organised warehouses.
Orders ship faster and are more accurate, leading to satisfied customers and upheld service level agreements.
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