When you're a product-based company, your inventory is an obvious part of your business. But are you doing what you can to leverage automated inventory management and reporting to make smarter, more effective decisions?
Here are a few reasons why automated inventory reporting is crucial for multichannel sellers:
1. Maximize scalability
Developing a scalable business model relies heavily on the systems you've implemented. Manually entering inventory in spreadsheet documents is not scalable. Emailing and calling your employees to figure out how much inventory you have on hand is also not scalable. Spending any extra spare hour you have analyzing data from multiple locations is most certainly not scalable for business nor your personal well-being. And as your order volume grows, all of these stale "systems" you're running today will break. It's just a matter of time.
If you want to scale your business, taking the time today to move to automated systems will enable you to gather information faster and make smarter decisions for the future.
2. Decrease human errorDitch the age-old inventory spreadsheet templates. Manual entry in inventory spreadsheets can often open opportunities for human error, leading to overselling or underselling. Keep your customers happy and your inventory moving with automated inventory tracking. Whether there’s one or 20 people on your team, it’s important to make sure everyone is using the same calculations. Think about how many times you've recounted stock. Now think about how many ways you could have better spent that time. Scary thought, right?
3. Save timeWith automated inventory tracking and reporting, you'll save hours of manual entry. Automated inventory management and reporting, like we offer at Stitch, helps you save time and enables you to make smarter decisions about your business. No more futzing with manual inventory counting. You’re business is a full-time adult now, so let’s treat it like one.