Wholesale business is gaining popularity in recent years. With the combination of a perfect store location and enough capital, this business has potential for fast ROI. The problem is, on inventory management aspect, there are a lot of business owners still using manual methods, which is not using stock application.
As a result, a lot of businesses end up bankrupt. Frequently out of stock, item expiration not handled correctly, regulating incoming and outgoing item is a common obstacle in wholesale businesses that still manage their inventory manually.
This is why a stock application is important for wholesale businesses. For companies that have several warehouses, it is practically impossible to run the business without stock application support. Then, what makes a wholesale business depends on the stock application? Here are five of them:
Improve report quality
The success or failure of your retail business can be acknowledged by your business reports. The quality of the report will affect your judgment on making a decision for your company. And of course, a quality report rarely achievable if you are still managing your inventory stock manually.
With the manual method, you still rely on your staff for making reports. As we all know, the report quality depends on your staff capability. This makes your report does not have definite standards.
But this is not the case if you use stock application. Your report does not depend on the capabilities of your staff because the system that makes the report. This method makes your report have quality standards that can be maintained from time to time.
Minimizing human error
Administrative work is a very tedious task. This is because admin or inventory staff are required to do the same thing from time to time. As a result, these people are vulnerable to human errors.
The stock application will minimize errors that your staff might do. With the barcode feature, recording and items data collection will be faster and easier. This application will increase your staff work efficiency and they won’t feel bored while doing their jobs.
Low stock notification
Nothing is more aggravating than the moment when one of your items is run out of stock. When this happens, more often than not your customers will turn to your competitors and you will lose a sale.
This is why the low stock notification feature is important for wholesale business. 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 audits
Inventory audit is an important process that must be carried out by the wholesale business from time to time. Not only to determine items availability level in the warehouse but audits also to know which items are closest to the expiration date.
However, the inventory audit process is very time-consuming. Especially for wholesale businesses that have many warehouses. Let’s say you have five thousand items in a single warehouse, and your company has 4 warehouses. Imagine the stress level of your audit staff while doing their job if they have to audit every month.
With inventory stock applications, this process can be done automatically. You only have to open your laptop, and the data you need will be presented in minutes. Fast, easy and absolutely stress free.
The stock inventory application allows you to control all of 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 the cloud server, you can control your warehouses anytime and anywhere, as long as you have an internet connection. Compared to paper documents, the stock application is much safer since documents are easily scattered or lost.
For other interesting reading about wholesale business, you can click the following link.