How to Manage Your Growing Business with Inventory Control
Learn Why Your Organization Needs Smarter Inventory Control – and Find Out How to Get It
In the early years of your business, you were able to get by with simplistic forms of inventory management. (It’s hard to call manual processes inventory “control,” though it is a lot of work on your end.) However, now that your company is more successful, you’ve come to the point where you need more.
True inventory control requires a workable balance between receipts (inventory coming in) and issues (inventory going out) — but, as you’ve already experienced, maintaining this balance can be complicated.
Download the white paper, “Four Strategies for Smarter Inventory Control,” to learn how you can transform your inventory control processes with minimal effort and maximum return.
The Basics of Inventory Control
When starting out, wholesale distributors may use manual systems for inventory management, such as “order-point” (which can be as simple as occasionally walking through the warehouse and looking for empty bins) or “two-bin order point” AKA “kanban” (which relies on two containers: one for your main supply and one for your reserve – once you start using the reserve, you must replenish).
The initial attraction to these systems is actually in their simplicity, but once your inventory becomes more complex, you need a system that can evolve with you.
I understand, though. It can be hard to switch your system – even when you know you’ve outgrown its limitations. The policy of “If it ain’t broke, don’t fix it” can seem like the smart choice when your business is small, but this kind of thinking can be disastrously detrimental to a business leader intent on expansion.
To truly grow your business, you need control. Inventory control.
Modern ERP solutions, purpose-built for growing distributors like you, can provide the inventory control you require.
A system like Acumatica Cloud ERP provides:
- Accurate tracking across multiple locations
- Support for picking methods(FIFO/LIFO)
- Lot & serial number tracking
- Expiration date management
- Inventory valuation assessment
- Automated data collection and integration
- Replenishment management
Effective inventory control results in better inventory cost management, improved customer satisfaction, a higher fill rate, and increased profitability with less stress and hassle.
Support Your Evolving Inventory Needs
By this point, you’re an expert at running your company. You know when your systems are holding you back, which means you know that, right now, the time has come for you to make that executive decision to determine your business’s future.
Get the white paper, “Four Strategies for Smarter Inventory Control,” so you can start managing your growing wholesale distribution business with the ease and confidence you deserve.