The Right Inventory Management Software Can Increase Sales and Profits

The initial set up of any business requires time, patience, and precision. With the right inventory management software, companies are able to load, organize and tag their merchandise. Multiple built in features allow merchants to track their inventory levels, so they can replenish fast selling items. Having these items on hand for end customers increase sales and profits, while fostering trust and commitment.

Maintain Complete Inventory Control from the Beginning

An operational managers’ primary responsibility includes delegating responsibility. The relationship between business owners and customers, remains as important as the B2B relationship, and the business to vendor relationship. The greatest challenge business owner’s face in the retail and marketing industry include setting up an effective inventory supply system.

In today’s modernized business, successful companies implement new technologies that help them achieve full functionality of every aspect of their business. These technologies include the benefits that come with utilizing inventory management software, such as inventory control, reduced waste, and effective productivity.

Inventory management software allows manufacturers and distributors to enhance their partnership, by offering:

Distributor Benefits

• Data error reduction
• Predefined purchase orders
• On demand order fulfillment

Manufacturer Benefits

• Decrease in distributor purchasing order
• Accurate accountability of in stock items
• Instant out of stock notification

(Learn more about NeoGrid’s VMI Solutions and how we can help you optimize your order and logistics processes.)

The right software allows companies the freedom to bundle individual items, and create their own SKU. At a later date bundled individuals can be separated and sold individually. Price adjustments are easy, and requires no manual input, due to the included automatic price calculating feature.

Inventory management software, also allow merchants to upload new items and vendors to existing inventory. Visible features make it easy to remove damaged, defective or discounted items from any previous inventory list, and return them to the vendor. Transfer items between stores, and keep up to date records of chain supplies.

Growing businesses use the type of inventory management software that provides them with adequate choices and flexibility. If businesses are to keep up with the current marketing trends, and survive in a competitive industry, they need to confide in a product that delivers on demand.

Download our cloud integration white paper to learn the five reasons S&OP belongs in the cloud.