Inventory management issues can start the minute a shipment arrives from a supplier. A receipt from a supplier may indicate that your company received 200 raw materials of some kind. The employee who receives the shipment may then enter information into the computer about the 200 raw materials, before even opening the package from the supplier. This conscientious employee may be on the ball in terms of doing things in a timely manner. However, he or she may also be setting the company up for trouble. What if the supplier accidentally sent a shipment of 150 raw materials instead of 200? Mistakes on the part of suppliers are common. Inventory management solutions should be implemented at every level of production and sales to ensure that the necessary goods are always on hand.
Communication is key to creating the perfect inventory management system. As soon as a shipment arrives, raw materials should be counted. Then, quantity information about those raw materials should be entered into the computer. Ideally, inventory management software should be used to keep track of all information about inventory. In order to ensure proper inventory control, an employee or employees should document when raw materials hit the production line and the status of all inventory as it goes from the raw materials phase to the goods in progress phase to the finished products phase.
Once a product is ready to be sold, inventory management techniques should continue. The inventory levels (stock levels) of all the finished goods should be maintained accurately so that the sales department consistently knows what’s available to be sold to customers. You don’t want to have to send an awkward email to a customer letting them know that their shipment from you will be late because you thought something was in stock when it wasn’t.
An inventory system that relies heavily on company communication and organization is essential for any type of business, small, medium, or large. Inventory management solutions don’t have to be difficult. Online inventory management software can be a huge help when it comes to keeping track of inventory, particularly for small businesses that may be understaffed. Fortunately, there are plenty of quality small business inventory management software options.
Ordoro is a fully web-based inventory management software that works with many of the leading ecommerce platforms. Ordoro can track your inventory starting from the purchase order, to the goods receipts, to the finished goods stock levels displayed on all the websites you are selling your products on. And Ordoro’s pricing model (month-to-month, pay-as-you-go, with no long term contracts) is also a great for small businesses who are seeking to get control over the inventory problems without having to shell out thousands of dollars. If you are interested in learning more about Ordoro can help your business, try out our free trial offer on our website.