Knowing how much stock you have in your warehouse at any one time is one of the most valuable assets in a business. If your automated inventory management system isn’t up to par, it can affect manufacturing runs, sales forecasts, customer satisfaction and it can even leave you unable to meet the demand for sales.
What is an Automated Inventory System?
An automated Inventory System is a modern way of tracking stock by using an advanced software application. This application allows you to track, report and manage any inventory changes in real-time using equipment such as warehouse scanning systems.
What Can a Company Inventory System Do?
A high-grade inventory system, such as those provided by Think Inventory Solutions, can make a huge difference to your operation. Our software can give you greater accuracy, transparency of inventory and can even help you reduce costs and improve your supply chain. Here are some of the key features of an effective inventory management system:
· Warehouse Management
· Stock Notifications
· Inventory Optimisation
· Warehouse Scanning Systems
· Report Generation
· Sales Analysis
What are the Benefits of an Automated Inventory System?
When compared to a manual system, an automated inventory system provides faster, more accurate stock accounting. It will also completely minimise human error, limit wastage, analyse sales data and forecast consumer demand for accurate future stock needs.
How Important is Inventory Accuracy?
Inventory accuracy is vital for meeting the demands of your customers. Having a fully automated, up-to-date inventory management system is one of the most important factors for a successful retail or wholesale business.
For more information on how an automated inventory management system from Think can help your business succeed, contact us today.