Carrying costs of stockGrowing your business requires time, dedication and effort, but it doesn’t have to be an uphill struggle. Effective stock management is a top priority for businesses looking to grow and prosper in today’s challenging marketplace.

Businesses can find it hard to match supply with customer demand and determine the appropriate level of stock or the right processes for effective stock management. Common problems include; balancing stock across multiple locations, optimising stock management processes, improve stock turns and driving on time deliveries while reducing the costs of carrying stock.

With increasing variability in customer demand, businesses must be flexible in order to adapt to the changing environment. Large product mixes and the growing number of channels can make stock management, and in particular stock tracking even more complicated and time consuming. For a business struggling to grow it can be because they are spending too much time and money trying to control stock levels, communicate these stock levels and effectively manage the processes needed to ensure complete stock efficiency. Businesses unable to control their stock can suffer from misplaced tems, wrong shipments and high carrying costs.

Stock management software can help business to manage all aspects of their stock, increasing efficiency and reducing time and financial costs. Getting the right processes and controls in place can help to ensure effective stock management. A good stock management system will help support an organised warehouse. This can help to speed up the order fulfilment process and keep customers happy.

Using a stock management device, such as a barcode scanner, that connects to your stock management software can help to dramatically improve efficiency and productivity. It eliminates manual processes so that employees can focus on more important areas of the business.

With real time visibility into your stock, businesses can experience increased customer satisfaction, reduced carrying costs, minimised obsolete stock and a greatly improved cash flow – all from within one system. Without the time consuming constraints associated with bad stock management business users are free to focus on growing their businesses.

If you would like to find out how to improve your stock management download the stock plus flyer.