What's Inventory Management Cost You?
Your Inventory Management is Costing You Money, Time, and Customers
Here’s a concise look at how your ad hoc inventory management is hurting your business:
- Losing a sale due to one or two stock-outs may seem relatively trivial; losing a customer has huge consequences as you may never get that customer back and you have strengthened your competitor’s position.
- So stock-outs pose the biggest risk and typically result in over-ordering and over-stocking as inventory levels are increased for all items when only a few have been stocking out.
- So a product that was not stocking out has its inventory levels increased, tying up additional working capital with no improvement in service on that product.
That really puts these issues into perspective. Relying on spreadsheets to organise your inventory management processes just doesn’t make sense. And if you’re already running ERP (Enterprise Resource Planning) software, there’s no excuse if you’re still stuck in Excel.
It should come as no surprise that, yes, there is in fact an app for that. Smarter replenishment orders, data-based forecasts, inventory classification and much more can be handled from anywhere via the cloud with NETSTOCK.
For more information on NETSTOCK, please click here> or contact our sales specialists on 1300 553 228 or email email@example.com