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Are you on top of your inventory?

25th February, 2020

Are the following scenario’s familiar in your warehouse? 

  • Wasting endless amounts of time looking for stock
  • Taking orders for stock you don’t actually have
  • Telling customers you’re out of stock when in fact you aren’t
  • Spending too much money on buffer stock

If so, then it’s time to take stock!  It doesn’t take much for inventory to get out of control, however with the right software and processes in place it should be easy to maintain control. 

Imagine: 

  • Having a system fully integrated with your finance, reporting, and customer management
  • Knowing exactly how much stock is in the warehouse right now
  • Knowing when a particular product is due to be reordered instead of guessing 
  • Being able to release cash that is tied up in excess inventory 
  • Managing your distribution process easily with inventory control including real-time access to stock in transit, available stock, stock on order and stock costs.
  • Inventory Monitoring which will give you the control and insight you need to make timely purchasing decisions. 

You can't manage what you don't measure. The only way to stay on top of your inventory is to track it. Inventory management software will give you the business owner, the ability to forecast accurately and be proactive. This can result in substantial reductions in the cost of goods sold and a marked increase in gross margin return on inventory. 

Key features of MYOB Advanced Inventory Management: 

  • Ability to assign serial numbers upon receiving, issuing or assembling items, and track inventory by that serial number 
  • Automatically applying expiration dates and instantly remove expired items from available inventory you can reduce inventory waste
  • Reason codes can be added that link directly to your general ledger and inventory reports. These can be used to measure trends and spot problems
  • Convert your opportunities in CRM to sales orders to avoid re-entering information such as price and discounts. You can every locate orders and verify shipping and delivery status

Having your products, customers, orders and transactions backed up, synced and secure. Everything ticked off and in the right place at the right time – that’s control of your inventory

 Key benefits of having your products, customers, orders and transactions backed up, synced and secure:

  • Reduced order times 
  • Improved customer satisfaction 
  • Properly manage your supply chain and logistics 
  • Controlled costs over entire supply and distribution chain

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