Efficient inventory management can be critical to your business’s success, but why? It’s not just about keeping track of products, it’s about avoiding errors, providing world-class customer service, and making informed decisions.
Let’s take a look at each of these things and why they’re important.
Inventory Management
Yes, an inventory management system gives you the ability to track items and more accurately ship and receive products. However, a lot of businesses don’t fully understand the power a true inventory management system gives them or how to use it.
Real-Time Updates
Instant visibility for all users means everyone is on the same page if (and when) inventory changes occur. That means items aren’t being sold when they’re not available, items can be reordered when needed and not before (or heaven forbid after), and it helps to create a more customer-focused experience.
Data
The real-time updates give your business data, real data, which means making more educated decisions. Setting reorder points, identifying buying trends, and knowing which products to emphasize due to inventory surplus can all help ensure your business is growing in the right direction.
Customer Experience
When your inventory levels are accurately documented it means you know exactly what you have on hand, what needs to be ordered, and how long it’ll take for something to get to your customer. At the end of the day, the customer is king, and being able to give them real updates on their order status and knowing how to price your products are all by-products of an effective inventory management system and keys to growing your business.
The Solution for Inventory Management
NetSuite, the number one cloud-based ERP solution, offers a world-class inventory management system that not only offers everything a robust WMS should, but also ties in directly with all the other systems your business needs (Accounting, CRM/Sales, Work Orders, Shipping, etc.).
More than just a software, NetSuite becomes the backbone of your business and allows you to create efficient and data-driven decisions that align with your growth and goals.
A simple demo can enlighten you with all the possibilities NetSuite has to offer and it’s only a click away. Contact us here to schedule it now and begin your journey of taking your business to new heights.
