Having a suitable inventory management solution for your business is incredibly important, especially in these times of supply and personnel uncertainty. More and more warehouses are moving away from time-consuming manual inventory processes and investing in technology that can help them better position their business for success.
If you currently use spreadsheets to manage inventory, there is a high chance you frequently find yourself with stock levels that are too high or too low and you have to deal with stock counts that don’t align with what’s really in your warehouse. When you implement the right inventory management solution, you can minimise manual work, streamline day-to-day operations and improve efficiencies. This, in turn, will help you to overcome common challenges faced by businesses, adapt to future changes and achieve your goals.
Ultimately, inventory management is all about stock ordering, storage and control, and having the right quantities of the right products at the right time is key to ongoing success. When you’re trying to find a new warehouse stock management system for your business, there are a few key features to look for. Using technology that is cloud-based, all-encompassing and adaptable, like NetSuite solutions, is beneficial for several reasons and it can help you to effectively manage your inventory process. Below we have looked into these three key features in more detail.
Implementing cloud-based solutions can help you to manage your inventory smartly and efficiently. Cloud-based software systems don’t have the same limitations as on-premises systems and your warehouse stock management solution will be able to handle everything required. With the help of a NetSuite cloud-based warehouse stock management system, your business will become more intelligent and you can directly benefit from the increased flexibility and transparency this type of system provides.
Leveraging cloud-based platforms within your warehouse will enable you to get real-time updates of inventory levels whenever required. All information stored within your cloud-based management solution will be readily accessible to users across multiple warehouses and locations, and this visibility will be invaluable. When you’re no longer restricted by an on-premises system and you have all of the capabilities you need to effectively manage your inventory, you can focus your time and attention on other important aspects of your business.
The best inventory management solutions will extend from the point of origin to the end-user. Having visibility of the whole supply chain is incredibly beneficial and using technology to support the movement, management and fulfilment of inventory is a cost-effective way to significantly improve customer satisfaction. End-to-end stock management solutions can revolutionise your order fulfilment process by automating several processes.
When you invest wisely in technology, whether you implement a basic NetSuite solution or integrate different applications that support native NetSuite functionality and extend its value, you can improve profit margins. Not only can a warehouse stock management system increase inventory accuracy, but it can maximise order picking efficiency, driving costs out of the distribution process. Not to mention, all-encompassing inventory management solutions can help to reduce human error and the costs associated with this too.
Being able to adapt your software to your changing warehouse needs and the changing external environment is crucial for growing businesses. Implementing an inventory management system that you can build upon will help you to ensure your business remains automated, streamlined and profitable, regardless of what the future holds, and you can maintain high levels of performance. It is likely that some features you need in years to come won’t be seen as requirements when you first invest in a management system, and adaptability will enable your inventory solution to scale and change with your business.
The right technology will help you to gain better control during challenging times too and no matter how uncertain market conditions may be, your adaptable inventory management solution will help you to continue delivering exceptional service. Predicting the future needs of your business can be incredibly difficult, but having software installed that can help you to achieve maximum productivity with minimum wasted effort and expense is always advantageous.
Speaking to a NetSuite consulting partner about Inventory Management
Investing in a warehouse stock management system that is cloud-based, all-encompassing and adaptable is something that all businesses should do, and using the right system can have a direct impact on your ongoing success. Should you have any questions about NetSuite solutions and the integrated apps available, don’t hesitate to contact our team at OSSM. As the leading NetSuite consulting partner and solution provider in Ireland, you can rely on us to provide you with the tailored advice you need when finding the best technology for your business.
Here at OSSM, we have collaborated with lots of businesses, across a range of industries, and we are committed to helping our customers overcome any problems they’re facing with new NetSuite solutions. We can integrate your chosen inventory management system into your operations efficiently and effectively too, so you can start reaping the benefits straight away. To find out more about how we can help, explore the rest of our website today.
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Author: Brian Doherty, Operations Director
As Operations Director, Brian oversees our NetSuite Project Management and Consultancy Teams and brings over twenty five years' experience successfully leading ERP projects across the Finance, Technology, Distribution and Services sectors.
Brian knows and understands the challenges project-based organisations. He brings a wealth of experience and best practices when it comes to implementing the right solutions for our customers.