As we continue with the End-to-End series we move on to the topic of retail distribution. In this series, we will take you step by step through the supply chain. You will learn how inventory management software can help improve performance across the supply chain.
The series will have five posts covering manufacturing, storage, distribution, transportation, retail and reverse logistics practices. Having an inventory system that integrates across your supply chain can greatly improve performance and boost efficiency.
Now that the product has moved through manufacturing, storage, distribution, and transportation, it now arrives at a retail location. Items have arrived at a location where they will be sold to the end consumer. In this phase of the supply chain managing inventory levels is especially important to ensure you meet customer demand. By using an inventory management system at a retail location you can improve forecasting accuracy, track trends, and simplify many tasks.
Many inventory management systems include auto replenishment functions. This takes the pressure off inventory managers and helps retail locations make more proactive choices related to customer demand. Inventory systems use a combination of historical data, minimum and maximum quantities, and reorder points to ensure you always have the inventory you need. Don’t leave your forecasting completely up to guess-work. Inventory systems allow you to make more educated decisions in a timely manner.
Using an inventory management system makes analyzing inventory simple. You can optimize your inventory levels by tracking your current and historical orders all in one place. These insights help you streamline your operations, improve efficiency, reduce lead times, and increase inventory turnover. Avoid over or under stocking products by monitoring trends more closely.
By using scanning with your inventory system you can simplify many daily activities in your retail location. By integrating your POS system with your inventory system you can complete a sale and update all inventory information with one scan. By integrating these two software systems you eliminate human error, reduce labor costs and simplify complexity in your selling process.
Make your retail operations more efficient with inventory management and scanning capabilities. Forecast more accurately, track trends and simplify daily tasks. Implementing an inventory system at your retail location can save you time and money.
Throughout this blog series, we have been able to see how interconnected the supply chain is, and how implementing an inventory system can help at every stage. As we finish up the series in two weeks we will go over how you can tie all your operations together and improve your reverse logistics with an inventory system.