We speak with retailers who call in to discuss their pain points, and 9 times out of 10, their challenges are related to inventory. What amazes me though, is that so many of those retailers are in pain because they’re still running their business using manual processes, like using spreadsheets! With all the solutions out there, it’s hard to believe so many retailers are still running their businesses using inefficient and error prone manual processes. Some have managed to be very successful and find themselves at a crossroad. They’ve reached the point where their success is jeopardizing their growth potential. They have the “good problem” where they can’t keep up with processing orders and managing inventory; particularly those that are selling across multiple sales channels.
This is when we hear from many of the small and mid-sized retailers too. They’ve reached that ‘tipping point’ where they can’t grow further until they figure out how to get ahead of the order to fulfillment processing curve. In addition to being time consuming, error prone and overall inefficient, manual updates are expensive! It’s time to find a better way of doing things to keep up and to grow!
Stop Throwing Money Out The Window
If you’re still making manual updates to support key retail back office processes, you’re throwing money, and profit, out the window. Your time is valuable, and spending time manually adding and updating information is costing you more than you think. And if you’re working in multiple sales channels, and have to log and track information for each separately, it’s even worse!
Get A Handle On Your Available-To-Sell Levels
If you’re using spreadsheets to track inventory and publish your available-to-sell levels, I’ve got bad news for you, you’re always going to be out of sync! Sales happen in real time, inventory decreases in real time, but how often are you updating your spreadsheets? Chances are you don’t have an employee on-hand whose sole purpose is to instantly update spreadsheets and publish those new levels as orders come in. Most likely you’re making updates at the end of the day, or for some it’s done at the end of the week, and this can lead to problems. When you finally get around to it, you may find that you are actually out of stock on a particular item and have to call your customer(s) with the disappointing news that his/her order cannot be fulfilled.
Retail is tough, and the last thing you want to do is disappoint a customer. Not only do you risk a sale, but also a potential repeat customer. So how do you solve this? Once again, through automation!
Automating the synchronization of your inventory across all sales channels offers many benefits: improves your ability to make customers happy by always having accurate available-to-sell levels, gives you real-time visibility into your sales and inventory, saves you the time and effort associated with manual efforts, and helps you better manage the cost of inventory because you’ll have a better handle on how much inventory to keep on-hand at all times.
So What Are You Waiting For? Automation Is Where It’s At!
Like I said, retail is tough but it can be so rewarding. There is a lot of competition out there so it’s important to get an edge over the competition, and automation can give you that edge. Using an inventory and order management software solution not only ensures you have accurate available-to-sell levels published at all times but frees up time, money and assets you can use to focus on growing your business.
Whether you sell online, through brick and mortar stores, catalogs, etc. or a combination of a few channels, we have a solution. Register for a Demo of our Inventory & Order Management Solutions today and see for yourself.