One
of the biggest mistakes many small businesses make is taking inventory
management lightly. Small business owners prefer to manage their stocks
manually for various reasons, such as saving money, not wanting to leave
behind the traditional method, and thinking that their inventory isnÕt
high enough to warrant a system.
Despite the rising demand for retail inventory software over the past
five years, only 18% of small businesses use it. If you belong to 82%,
itÕs time to reconsider!
The Problem with Traditional Inventory Management
The biggest downside of traditional inventory management is its
dependence on buffer inventory. Companies keep large amounts of
inventory to anticipate emergencies and spikes in demand, fully relying
on forecasts and manual observations. While it sounds good on paper,
this method has several massive flaws:
Why Retail Inventory Software is a Smart Investment
The number one advantage that retail inventory software offers is
inventory visibility. All of your stock levels are projected in
real-time upon request. The risk of inventory discrepancy caused by
human error is significantly reduced, streamlining all the inventory
management processes.
Inventory visibility is particularly essential for managing inventory
across multiple locations. Once your business grows, you can easily
configure the system to sync all the stock data for more efficient
supply chains. No need to travel between warehouses just to cross-check
your stock levels!
Here are other benefits of having inventory visibility via retail inventory software:
Digital Stocktaking with Advstock Inventories
Advstock Inventories develops a cloud-based, self-service small business
stocktaking app for retail, wholesale, manufacturing, and hospitality
industries across Australia. Our small business stocktaking app is
available in Apple and Android app stores. It means you can leverage
your resources from anywhere to perform cost-effective stocktaking and
design a custom stocktaking solution to optimise your business
processes.
Advstock Inventories offers stocktaking apps for convenience stores,
stocktaking apps for pharmacies, stocktaking apps for food and beverage
businesses, and stocktaking apps for bars and clubs Ð each type comes
with different features to support the niche industries.
Get in touch to know more about our self-service stock and inventory app!