Sure, they’re cool. It doesn’t get any better than simply scanning a barcode to automatically update your inventory in real time.
There’s no doubt that warehouse inventory management systems reduce the time needed to track and manage your inventory. And you know what time means to any company.
But time consumption isn’t the only thing that inventory management systems reduce towards more operational efficiency.
Among their many benefits, here are just a few other crucial business issues that inventory management systems (IMS) help you to reduce or eliminate, so you can increase your ROI.
1. Customer Complaints
Improving customer service is just about the last thing on anyone’s mind when they think about an IMS. But it’s probably the area of business that an IMS can produce some of the highest returns.
How do you feel when you order a product and the retailer tells you they are out of stock? Or you place the order and the product is damaged when you receive it?
That’s exactly how your customers feel in those circumstances. An IMS reduces out-of-stocks and inventory damage due to inefficient handling.
2. Wasted Space
Whether you manage your own warehouse space or you use third-party warehousing services, that space costs money. By improving your JIT delivery scheduling and eliminating extra stock, an IMS helps you maximize the use of warehouse space.
3. Lost Stock
Unorganized warehouses result in more damaged stock and lost inventory. An IMS is the key to an organized warehouse.
4. Underperforming Products
This is another area that IMS buyers don’t have top-of-mind when researching the purchase. Who would think that an IMS can lead to you making adjustments to your product offering? IMS reports show you exactly how your products are performing, in real time, so you can make fast, accurate decisions about inventory levels and even underperforming products.
It doesn’t stop there. From faster shipping and receiving, to improved worker productivity and safety, there are many more business benefits to using an inventory management system. Learn more about PiVal International’s inventory management systems and how it can help reduce costs and improve your processes.