An inventory management system (or inventory system) is the process by which you track your goods throughout your entire supply chain, from purchasing to production to end sales. It governs how you approach inventory management for your business.
Advantages of Inventory Management Systems
Any venture that handles stock will need a system to accurately track and control it. Without one, you’ll be working on an entirely ad-hoc basis — and you’ll quickly run into situations where your business is overstocked or understocked.
Inventory systems tell you the number of components or ingredients you need to create or assemble your final product. Without this information you may end up with excess stock, eroding your bottom line, or with insufficient stock to meet customer demand.
But while you will need an inventory management system, which one you choose is entirely up to you. There are countless different systems you can adopt, ranging from simple approaches to comprehensive solutions.
Knowing When to Upgrade to an Inventory Management System
Moving onto a dedicated inventory solution can provide massive benefits to your business, but it is a step change. Here are some signs that it might be time to upgrade:
- You need more flexibility
- Inventory costs are growing
- You need more accuracy
- Slowing growth
You Need More Flexibility
Spreadsheets are an inflexible way to manage inventory. If you find that you need to add extra sheets to your solution, or are struggling because employees can’t access real-time data, then it might be time to upgrade to cloud-based inventory software.
Inventory Costs are Growing
Holding costs can severely undermine your bottom line when they are not kept under control. Moreover, the key to minimizing holding costs is only to store as much stock as you need. An efficient inventory management system helps you keep your storage efficient.
You Need More Accuracy
Do you find it difficult to track how much of a particular item you have at any one time? Using a dedicated solution, you — and your employees — will be able to get up-to-date information on your inventory at any time, from any place.
Slowing Growth
Maybe your salespeople have to contact your stockroom to find out what they have to sell, or you find yourself spending too much time manually writing reports rather than focusing on your customers. Slowing sales can be a symptom of poorly managing stocks — dedicated software can help you quickly return to growth.
Introducing ActiveOne’s Inventory Management System
If you’re interested in discovering how much your ideal inventory management system would cost you, it’s worth getting a quote at ActiveOne Systems. Simply tell us what you need, and we’ll be able to give you a clearer idea of how much you should expect to budget to meet those needs.
Active Systems – ActiveOne’s Inventory Management System
Benefits of our Inventory Management System:
- Provides instant inventory history (Instant Stock card)
- Support price leveling
- Maintains items in divers units of measure
- Unit of measure conversion
- Generates barcode for each product
- Supports lot number/serial number
- Multi-location warehousing
- Tracks expiry dates.
- Products and services clustering
- Handless inventory image or pictures
- Inventory item list
- Build Assembly
We Provide True Integrated Business Solutions
With ActiveSystems, we make sure that not only our products work but we ensure that we understand your needs and deliver solutions that will make your business process more efficient, effective, and secure, and that you are satisfied with the results.
Experience how ActiveOne Solutions works with you in your growing business.
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