Far too often companies that handle a high volume of stock cannot get their inventory controlling processes streamlined.  As your small to mid-sized business grows, you may find your e-commerce, logistics, and stock becoming more complicated to manage. It may not feel as easy to record inventory and restock as it did even a year ago, so you’ll need to implement processes and systems equipped to handle your new workload. Not having a flexible and proven distribution system results in stockouts, inaccuracies, and poor customer service levels you may wonder. Is your inventory controlling you or are you controlling your inventory?

This is where advanced inventory control technology systems solve stock control management challenges. Because with the right internal and production controls, you can be sure you’re controlling operational costs while simultaneously meeting your customers’ demands.

Inventory control, also known as stock control, is the process of managing your company’s inventory levels in one or multiple locations. Basically, tracking items and making sure your business keeps the optimal number of parts or products in stock, whether it’s online, on the shelf, or both. An inventory control system also watches your products’ usage, storage, and movement—from its stock room arrival up to customer shipment arrival.

While focusing on the removal of slow-selling products and increasing the number of high-selling, you’ll maximize your profits, while saving time, resources, and money with the least amount of inventory sitting in your warehouse.

For companies that manage stock, controlling your inventory is the end-all, be-all of your business yet almost half of small businesses don’t have inventory control. While it’s still possible to maintain a high sales volume, profitability will suffer almost immediately if you don’t have it. Customers typically will not wait for backorders or products with extended shipping times, they will simply look to your competitors to fill their orders.

Having effective Inventory Control capabilities, such as those offered through Microsoft Dynamics 365 Business Central, can give small to midsized companies the power to control their inventory through:

  • Quality control. Track and manage all aspects of your stock, including quality, to ensure pieces are rotated through your warehouse.
  • Organizational Control. Ensure you have enough product to fulfill every order that comes through, as well as safety stock—stock that acts as a buffer to reduce an item being labeled “out of stock.”
  • Accounting Accuracy. Keeping an accurate record of your inventory is vital for managing your assets, especially in audits. Knowing your product quantities allows you to know how much of your product is being lost, destroyed, or spoiled and understand the value of your business.
  • Demand Forecasting:  Advanced Inventory Management tools can provide your company with real, tangible inventory forecasting and dynamic replenishment advantages that can lower your inventory, increase customer service levels, and directly enhance the bottom line.

If your existing Business Management/ERP System is not managing your inventory to your standards and is controlling you, contact iCepts Technology Group below for ways to streamline and optimize your inventory!

Learn about better Inventory Contol with Microsoft Dynamics 365 Business Central

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Posted by iCepts Technology Group, Inc. a Microsoft Business Central Partner in Pennsylvania