Inventory management is by no means the glamorous side of any retail or warehousing business. It is easy to pay attention to the more creative aspects when it comes to your business; whether that is marketing, sales, or product development. However, what is often overlooked is how stock and inventory management is at the heart of it all. Neglecting to consider your stock control processes can significantly affect your growth and scale.
It’s easy to choose a stock control solution that simply ‘does the job’ and as a small business, an entry-level stock management solution may seem like the best option to save on cost whilst being able to gain better visibility and control over your inventory.
However, it is easy to quickly outgrow these systems as your business develops. Your business may need a stock control solution like PSS 50 so that your processes can meet the demands of your high growing and successful business.
Do you need a stock control solution?
You’re spending most of your time on data consolidation
Before your business started growing, when orders and stock levels were relatively low, it was easier to monitor your stock control. The manual process of data consolidation was manageable, however, if you find yourself spending most of your time trying to consolidate your data, you are risking hundreds and thousands of pounds to inefficient processes.
You’re seeing ‘out of stock’ and back-ordered items far too often
As a growing business, you need a stock control solution that allows you to capitalise on every sales opportunity. This means you need to ensure that all of your items; especially high volume items are kept in stock and available to purchase.
You want to spend money but your excess cash is tied up in excess inventory
If your business lacks an effective stock control system, it does not just affect the customer experience, it can have internal effects too. Having cash tied up in excess inventory can impact cash flow massively. If you are frequently having to clear our excess inventory, upgrading to a stock control solution such as PSS 50 can ensure you don’t have to face this issue again.
You don’t have a sense of your true inventory
Often, the meaning of ‘true inventory’ is misunderstood. It is much more than a straightforward product count of your warehouse or store locations. Having a sense of your true inventory encompasses all products that may have been reserved, already sold, committed stock and product restock & shipments plus much more. Being able to manage all types of inventory will be able to put you ahead of your competitors and Bit Systems can help you do just that with our stock control solution that integrates seamlessly into Sage 50 Accounts.
Your Operations are out of breath trying to keep up with your growth rate
In essence, your business is only moving as fast as your slowest-moving piece. If you’re at the point where your business is struggling to keep up with rest of the business, it is a clear sign to upgrade your inventory management solution to an advanced solution such as PSS 50.