The wholesale business is gaining popularity in recent years. With the combination of a perfect store location and enough capital, this business has the potential for fast ROI. The problem is, on the inventory management aspect, there are a lot of business owners still using manual methods, which is not using the 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 items 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.
You can use warehouse management software from HashMicro to help optimize warehouse usage in calculating and tracking its 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 a wholesale business depend on the stock application? Here are five of them:
Table of Content
Improve Report Quality
The success or failure of your retail business can be acknowledged by your business Your company reports might reveal if your retail company is a success or a failure. The quality of the report will affect your judgment on deciding for your company. And of course, a quality report is 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 of 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. You can record and items data collection faster and easier with the barcode feature. This application will increase your staff work efficiently and they won’t feel bored while doing their jobs.
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 Audits
Inventory audit is an essential activity that the wholesale business must do regularly. 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.
You can automate this process using inventory stock apps. You simply need to open your laptop, and the information you want will appear in minutes. It’s quick, simple, and completely 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. Also, the stock application is much safer than paper documents since documents are easily scattered or lost.
Also, use Hash Trading & Distribution System from HashMicro to help manage your wholesale business. This system presents a variety of the most practical wholesale business industry innovations to significantly increase the efficiency of the company. This system can automate various trading or wholesale business operations ranging from inventory tracking to optimal warehouse management.