Here are three challenges that you may face when tracking inventory:įirst, tracking inventory can be a very onerous task as your inventory grows. Unfortunately, inventory tracking also has a number of challenges for any business that is participating in tracking. This also leads to higher customer satisfaction. Order fulfillment speed is also increased and your staff will waste less time searching for missing items or sifting through an overwhelming amount of inventory. The more information they have, the more productive they will be.
Third, your warehouse staff will appreciate having insight into your inventory levels and locations. With less money earmarked for inventory, you can invest it in eCommerce marketing to increase your sales and continue to grow your business. When your inventory is under control, you don’t need to spend as much on storage, purchasing, salaries, and more. Second, you’ll save money across the board. This, in turn, leads to greater ability to increase sales and maximize profits. Calculating optimal reorder points, performing demand planning and forecasting, and more are all made easier when you have insight into inventory levels and movement.
Here are just a few benefits:įirst, you’ll be able to make proper decisions about product ordering. Since your inventory levels directly affect your warehousing and sales operations, there are many benefits to tracking it. When done poorly, it can hurt customer satisfaction, increase overhead expenses, and even cause a bullwhip effect that hurts your entire supply chain. Tracking inventory levels is vital for order fulfillment and warehouse operations. Inventory tracking is the process of tracking all products and SKUs in your possession, in transit to and from your warehouse, and the quantities available in all locations.