How to Track Your Inventory

Entering a customer order can be a cumbersome task when using outdated software. It’s even worse if your current software is unable to track inventory correctly and you unknowingly sell out-of-stock products. This leads to customer dissatisfaction and can hurt your business.

Consistent inventory mishaps lead to a shrinking customer base. Fortunately, it doesn’t have to be this way if you’re using the proper inventory management software.

Before you decide to look for a new inventory management solution, consider the following:

Business Challenges

Inefficient Processes

There is a problem if your employees spend a good deal of time to find items in your warehouse. Using the right inventory management software will help improve efficiency when entering orders, receiving inventory and shipping your products to customers.

As well, inventory management software should be easy to learn, enabling several employees to be trained simultaneously. A highly trained workforce saves you time and money down the road and leads to fewer customer support calls.

Cost Control

Despite the upfront costs, an inventory management software can save you a significant amount of money both in the short and long-term. Business consultants can assist you in determining your return on investment (ROI) and you may be amazed by how quickly this investment will pay for itself.

Wrong Data

Your inventory records should be 100% accurate. Using Excel spreadsheets to track your inventory will lead to frequent errors that will cause serious problems for your business. An efficient, accurate and easy to use inventory management system is the best way to avoid this problem.

Unbalanced Inventory

Too many items left in your warehouse will cost you money. Too few and you’re missing opportunities. Inventory management software will give you the data you need to plan accordingly and help meet your customers’ needs on time.

Must-Have Software Capabilities

Product Attributes

If you have hundreds of products, then you need a software that can track product categories, including sizes, styles and colors.

Purchase Orders

Your inventory management software should be able track products from the initial sale to delivery, while automatically adjusting inventory levels.

Real-time Product Data

Knowing when items are back-ordered or out-of-stock is highly valuable. It allows you to plan ahead and inform customers.

Proper inventory tracking is a must if you want to create a long-term plan for improved business growth. With Spire, you get an accounting and inventory management solution designed to help lower costs, increase efficiency and keep you ahead of the competition.

Learn how Spire can help achieve the results you want. Contact us for a free trial.