The wholesale business has gained popularity in recent years. With the combination of perfect store locations and sufficient capital, this business has the potential for fast ROI. The problem is, in the aspect of inventory management, there are still many business owners who still use the manual method, which is not using stock applications.
As a result, many businesses end up going bankrupt. Often out of stock, expired goods are not handled properly, the arrangement of incoming and outgoing goods is a common obstacle in a wholesale business that still manages its inventory manually.
This is why stock applications are important for wholesale businesses. For companies that have multiple warehouses, it is practically impossible to run a business without the support of stock applications.
You can use HashMicro’s warehouse management software to help optimize warehouse usage by calculating and tracking capacity automatically. This software has been integrated with various systems to maximize the use of warehouses such as purchasing management systems, inventory management systems, and accounting systems.
Then, what makes wholesale businesses rely on stock applications? Here are five of them:
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Improve Report Quality
The success or failure of your retail business can be recognized by your business. Your company report may reveal whether your retail company succeeded or failed. The quality of the report will affect your judgment in deciding for your company. And of course, quality reports are rarely achievable if you still manage your inventory manually.
With the manual way, you still rely on your staff to generate reports. As we all know, the quality of the report depends on the capabilities of your staff. This makes your report not have a definite standard.
But not so if you are using stock apps. Your report does not depend on the ability of your staff because the system generates the report. This way your report has a quality standard that can be maintained over time.
Minimizing Human Error
Administrative work is a very tedious task. This is because the admin or inventory staff are required to do the same thing from time to time. As a result, these people are prone to human error.
Stock apps will minimize mistakes your staff might make. You can record goods faster and easier with the barcode feature. This application will increase the work efficiency of your staff and they will not feel bored while doing their work.
The use of inventory management software that is already integrated with the accounting system can help you plan inventory costs, control procurement of goods, and manage orders. In addition, inventory management software can optimize inventory levels, monitor stock transfer processes, estimate inventory needs, and stock management.
Low Stock Notification
Nothing is more aggravating than the moment when one of your stock items is empty. When this happens, your customers will turn to your competitors and you will lose a sale more often than not.
This is why the low stock notification feature is important for wholesale businesses. Wholesale business owners prefer a stock application that has this feature. When your inventory runs low, this application will send an email or push notification on your mobile.
Easier Inventory Audit
An inventory audit is an important activity that a wholesale business should carry out on a regular basis. Not only to find out the level of availability of goods in the warehouse but also to conduct an audit to find out which goods are closest to the expiration date.
However, the inventory audit process is very time consuming. Especially for wholesale businesses that have many warehouses. Say you have five thousand items in one warehouse, and your company has 4 warehouses. Imagine the stress level of your audit staff while doing their job if they had to audit every month.
You can automate this process using an inventory stock app. You just need to open your laptop, and the information you want will appear in a matter of minutes. It’s fast, simple, and completely stress-free.
The stock inventory app allows you to control all your warehouses from one place. You no longer need to request data from each warehouse manager to find out how much stock is available in each of your warehouses.
With cloud servers, you can control your warehouse anytime and anywhere, as long as you have an internet connection. In addition, stock applications are much safer than paper documents because documents are easily scattered or lost.
Also, use HashMicro’s Hash Trading & Distribution System to help manage your wholesale business. This system brings the most practical wholesale business industry innovations to significantly increase company efficiency. These systems can automate various trading or wholesale business operations from inventory tracking to optimal warehouse management. You can start HashMicro’s Warehouse Management Software demo for free now.