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ERP Inventory Management - How to Optimize Inventory and Fulfillment with ERP

From helping businesses track stock levels to collecting and analyzing customer data, ERP inventory management software is extremely valuable for retailers.

How ERP Inventory Management and Fulfillment Solutions Make a Difference for Retailers

The customer experience (CX) rests at the top of the retailer’s priority list—or it should. Studies show that happy customers equal a healthy bottom line, but how exactly do you go about making your customers happy? The answer lies in understanding what products your customers need and want and what prices they’re willing to pay, all while ensuring the desired products are easy to purchase and always available.

Unfortunately, having “always-available” inventory is no easy task. It requires knowing how much inventory you have in stock at all times, which is almost impossible with aging, disconnected software and/or manual processes. But it’s more than possible with a modern Enterprise Resource Planning (ERP) inventory management software for retail, which can help you:

Accurately forecast inventory needs.
Reduce shortages and excess inventory.
Increase visibility across the retail pipeline.

ERP Solutions and Your Inventory Experience

As a retailer, you know that having too little inventory leads to shortages, dissatisfied customers, and lost revenue, while having too much inventory leads to additional expenses and prohibitive costs. A stable and healthy inventory is key to forging strong customer bonds and guaranteeing profitability. With a comprehensive ERP solution (which acts as the primary repository of all business data, including sales, accounting, finance, supply chain, human resources, and inventory information), you’ll have the visibility, collaboration, and departmental integration required to forecast customer demand and order optimal stock amounts.

“Having that stock control is incredible. That’s put us at the forefront, especially in the craft beer industry. Now we can track it all; everything we do is in Acumatica. Whatever information we want, we can have it at the click of a button, and that’s the key to our success. We know what’s in each warehouse and when goods are sold.” – Colin Gilhespy, Co-Owner and Managing Director, Cave Direct

"Acumatica has transformed our business, given us access to real-time stock information, and given us the confidence that we can just keep on growing."

Colin Gilhespy, Co-Owner and Managing Director

Cave Direct

ERP Inventory Benefits

A modern ERP system gives today’s businesses many advantages, three of the most important being:

Greater visibility and control.
Automated workflows.
Better customer experiences.

Benefits of an ERP Inventory and Fulfillment System
Greater Visibility and Control

An inventory management software for retail gives you real-time visibility into your inventory levels—something disconnected systems and error-prone spreadsheets cannot provide. The software records inventory data either automatically or through user input, giving you the flexibility to choose what methods work best for you. Access to this ERP inventory management software for retail gives your team members full control over inventory, and they can make data-driven decisions based on updated, accurate information about stock levels and inventory locations (including items in transit).

Automated Workflows

Inventory accuracy is essential for retail businesses, so relying on manual processes and workflows inhibits your ability to accurately maintain inventory—largely due to human error. This inaccuracy results in major disruptions to productivity and affects your customers’ experiences. Automated workflows through the right ERP inventory system eliminate spreadsheets (decreasing human error), improve productivity, and reduce costs. With automated ordering and fulfillment replenishment, you and your business can reduce inventory shortages and overages.

Better Customer Experiences

Having stable inventory levels and inventory that aligns with customer demand means you can give buyers what they want, when they want it, without fail. This creates a strong customer experience, and a strong customer experience yields customer loyalty—stimulating continued growth and soaring profitability.

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Inventory Management Software in Action

“Now, I sleep, dream, and hope….Our culture and atmosphere are so much more positive, and people are in a good mood. Everything is coming together, and our company is growing at a fast rate. It’s fantastic.” Dave Munson, Founder and CEO, Saddleback Leather

“We are in an extremely fast-paced industry with 50 different beers from different breweries from all around the world [arriving] weekly. Before, it was just a nightmare trying to keep up with it all. By upgrading to Acumatica, it was so much easier and streamlined, and we have all the information we need in hand to empower sales. Acumatica makes it a hell of a lot easier to sell in a product, knowing that we’ve got full control of where it comes from and where it goes.” Louise Smale, Co-Owner, Cave Direct

“With Acumatica, we can track inventory in real time knowing where each item is. Whether it’s in the production flow, whether it’s in raw material stores, or whether it’s in transit. Having real-time inventory tracking and understanding where it is located in the factories is very important to us.” Devin Samayamanthri, Chief of Staff, Design Studio

“Being able to access data and have the various departments working together in one system [Acumatica] is a real benefit. If the warehouse has low inventory for an item, it is immediately exposed to purchasing to place the order for more. We now have real-time visibility to pertinent data.” Ben Rothe, General Manager & CEO, Premier 1 Supplies

Featured resources

Industry Handbook

Choosing a Retail and eCommerce ERP

Whitepaper

Four Strategies for Smarter Inventory Control

Analyst Report

BigCommerce and Acumatica: A Unified Ecommerce & ERP Solution

View all resources

See what’s possible when you have a future-proof ERP platform that truly puts customers first.

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