SME owners today are pooled in so many different directions they have no choice but to be everything for everyone at the same time and be it ostentatiously. While few discover the Renaissance man within, the winners that jump in the deep end and come out on top might surprise you. As it turns out, most of them find the Jack of all trades instead; a master of none that treads far from detail oriented pedantics. In the age of the IoT, the common denominator is the embracement of smart systems, particularly, when it comes to inventory.
SME entrepreneurs that dedicate most of invaluable time to subtle work more often than not get sidetracked by things that many others can handle. The result of not keeping their eyes on the ball is a business falling behind competition on the power curve. The key pillars to professionalism being duty, or leisure-work distinguishment, consistency and progressive, the price of not progressing with new normals as one is an obsolete infrastructure to compete.
Inventory logistics is the heart of retail. Loss follows hard on the heels of those unprepared. Unfortunately, that is what is happening as most warehouses are still being run on excel spreadsheets or even notepads while management is left pandering apathetic systems.
It’s time to change! The first step to solving a problem is the hardest; to swallow the pride and acknowledge that a problem exists. The next is down hill, to embrace the certainty of change and progress with available solutions out there. In order to make the business operate more efficiently faster, SMEs needs a reliable mechanism that is able to manage inventory with established standard operating procedures (SOPs) in a systematic way. Inventory software to the rescue, a standardized program is now available at scale with a wide variety to choose from, either with an asking price or freeware, depending on each company’s unique functional requirements and affordability. A few advantages of using inventory software are:
1. More data becomes available, accurate and useful
First things first! If you are still using an excel spreadsheet or notepads to manage inventory, it is very hard for your business to grow. Because all the pieces of paper are self-invented manuals in silo highly susceptible to unintentional human errors and repeated mistakes, let alone intentional book cooking and boondoggles best buried in literature.
In managing a small business, you don’t have enough time to delve over every detail in the spreadsheet because you have many other important must-dos to handle. Yet, some owners have no choice but to do everything themself. Or, do they?
This is where inventory software comes in. Simply have the existing inventory data input into the selected software and it will automatically manage inventory for you. It automatically produces reliable and standard reports that not only facilitate analytics, production, planning, procurement and even marketing, it optimizes developments on a synchronized platform.
2. Detect errors and resolve problems faster
Also a result of using spreadsheet manuals, improper handling and management of Purchasing Orders (PO) leads to operational inefficiencies and therefore stagenated expansion. Unprofessional PO handling also impacts the business in many other devastating ways. Aside from precipitating dissatisfaction among loyal customers, it subjects the business to negative reviews that disheartens new prospects or existing loyalty, altogether.
As your champion on an electric charger, inventory software typically comes with a capacity for quality control that autochecks POs for each and every customer prior to releasing outbound shipments. Simply put, by implementing the software, PO errors can easily be detected and handled beforehand in an automated fashion.
3. Optimized customer service
A good inventory software requires a good support team that is capable of setting up systems and advising on best basic usage along with standard warehouse operating procedures, and how to solve problems that occur in a systematic way. All in all, a good support team frees up invaluable time that can be used in other more important areas such as spending time with customers and handling complaints. At the same time, the support team can scan inventory systems behind the scene for best solutions.
4. PO management and fulfillment flexibility
The objective of inventory software is to elevate your business with optimized efficiency. Inventory, picking, packing and delivery all fall in place to complete a valuable part of the supply chain called the Fulfillment process. It’s an important operation that requires accurate inventory information from a centralized software for it to be implemented smoothly. The result is reduced inventory overhead, speedy delivery and happy customers. It makes you a professional, and thereby, a reliable contender.
Stop wasting time with paper picking lists that leads to errors sooner or later and go with a digitized version that is accurate in real time and much faster. The product packing list also remains confidential with the QC system that minimizes packaging errors and connects all involved carriers, as needed.
Modern day SME entrepreneurs have to grasp the inefficiency of manual processing that has been unveiled by the digital revolution. It be technology or smart systems, digital tools have become the new normal for progressive advancement in commerce. It is now definitive of efficiency and therefore competitiveness.
>> A small investment in digital goes a long way in business success. <<
On the flip side, in the age of the IoT, IT specialists and digital engineers will earn the social status and pay they deserve equivalent to that of a PhD, let alone a digitally irrelevant one. The downside is that it’s a field where new knowledge changes regularly. Can you keep up with updates in real time? If the answer is Yes, then you could be the digital huckleberry. It’s one of the most desirable experiences recruiters look for from the resume and the fastest growth in hiring demand worldwide.
Compiled by BLOG.SCGLogistics
Photos dspinteriors.co.uk, freepik.com, routeique.com, bladeroomus.com