Take Control Of Your Inventory Once And For All
Inventory is the backbone of your success. When you’re overstocked, funds are held up in products that need to be moved. When you’re understocked, customers are unable to get what it is that they want. Managing inventory can be an overwhelming process, and if you don’t have the right tools at your disposal, it can lead to countless problems within your operations.
One of the biggest problems that retailers face is not knowing where their inventory issues truly lie. They conduct their weekly or monthly inventory checks, they follow their ordering protocol, and yet they still encounter overstocks in some areas and understocks in others.
Inventory Planner is a unique software platform that allows you to improve operations. You can save time and money by knowing more about your inventory in order to be smarter about how you order. It can save you hours of frustration and ensure that your employees are able to find what they need in order to accommodate customer requests and incoming orders.
What is Inventory Planner?
Inventory Planner is capable of connecting to various platforms to give you a better view of customer demand. It provides you with inventory forecasting in order to optimize your stock – regardless of how many warehouses you might oversee.
Consider how you might be missing out on revenue. When there are stock outs, it prevents you from giving customers what they want. While you might have it again in a week, you could be missing out on more than just revenue from a few out of stock items. You could be losing customers indefinitely as they have to go to a different retailer to get what they need.
What SKUs are in high quantity within your inventory? What SKUs are constantly out of stock? What SKUs are popular only at certain times of the year? Inventory Planner has the means of answering all of these questions so that you can take control of your inventory once again. The SKUs you have can move faster, allowing you to confidently add more SKUs to your inventory for higher revenue streams.
Many companies have been able to save 40+ hours a month because of better ordering efficiency. Rather than walking the aisles of your warehouse to figure out what you need, you can rely on inventory forecasts that are tapped into your purchase orders to tell you what’s back there. It will make it easier to know what SKUs need to be marketed to push out of your warehouse and which SKUs need to be ordered in larger quantities to keep up with consumer demand.
Make the Most of Your Purchasing Budget
Regardless of how large or small your operations are, you need to make the most of your purchasing budget. This is done by making sure that you purchase products that are going to move off of the shelves quickly. If you’re ordering items that you already have in mass quantity in the warehouse and not enough of the products that have a history of moving quickly, your purchasing budget is going to be used inefficiently. It could take weeks, months, or even years to see a profit on all that you’re purchasing because of it simply sitting on your inventory.
With Inventory Planner, you can automate a significant amount of the reordering process by receiving automatic replenishment recommendations. Imagine how much time you could save by having software that will compute the sales forecast for you on thousands of products in just minutes. Rather than wasting time staring at spreadsheets that may not be as accurate as you need, Inventory Planner will tell you what you should be ordered based on real data.
Additionally, you can rely on the data because of your ability to import your sales history into Inventory Planner. You can load years’ worth of data in order to find out more about what to order. It can identify sales trends to ensure that you’re buying product that your customers actually want.
Improve Customer Service
It’s important that you provide the best possible customer service. Whether you’re involved in e-commerce or have a brick and mortar building, your customers depend on you for the product that they want to buy. This means that having Inventory Planner working behind the scenes isn’t just helping you manage your purchasing budget. It’s also about allowing you to provide better customer service.
Today’s customers know that they have options. While you may have loyal customers, that loyalty will only take you so far. People want to have products in their hands when they want them. If you’re unable to provide for them, they’ll take their business elsewhere. As soon as you have lost a customer on one occasion, it may take quite a bit of effort to get them to come back.
You have to ask yourself whether you’re providing quality customer service at this point in time. How many times have you had to explain to a customer that you don’t have the product that they are looking for in stock? How many times have people left your store empty-handed because of not being able to find what they’re looking for? Inventory issues turn into customer service issues – and in today’s competitive market, you can’t afford to have inventory issues.
The cost of Inventory Planner ultimately pays for itself by making sure that you have the products that people want. It allows you to compete more effectively with the big name stores that can afford to make a few errors in ordering.
Let us show you how Inventory Planner can meet your needs on a number of levels. We offer multiple forecasting methods, the ability to forecast demand for components of bundles, and so much more.
When you’re ready to learn more about your inventory, take advantage of our free trial of Inventory Planner. The demo is a great way to learn more about the features and see how it can change the way that you purchase products and how you can make your customers happier with more in-stock items than ever before.