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.
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).
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