We help you understand the stock you have, where it is in your warehouse, and when it is going in and out.This can help low costs, speed up fulfillment, and prevent fraud. Your company may also rely on inventory control systems to assess your current assets, balance your accounts, and provide financial reporting.
Inventory control is also important to maintaining the right balance of stock in your warehouses. You don’t want to lose a sale because you didn’t have enough inventory to fill an order. Constant inventory issues (frequent backorders, etc.) can drive customers to other suppliers entirely. The bottom line? When you have control over your inventory, you’re able to provide better customer service. It will also help you get a better, more real-time understanding of what’s selling and what isn’t.
You also don’t want to have excess inventory taking up space in your warehouses unnecessarily. Too much inventory can trigger profit losses whether a product expires, gets damaged, or goes out of season. Key to proper inventory control is a deeper understanding of customer demand for your products.
There are many different ways to keep control of your inventory. One basic way is to create a spreadsheet with various columns for product name, item number, and quantity. You can have a column to deduct what you sell and ship. You can also keep a log of returns and new incoming stock.