As you fulfill orders through your warehouse, you may experience issues surrounding insufficient inventory or unorganized placement of goods. This can result in delayed deliveries and strained customer relationships as you try to work through your internal processes. So how can you improve inventory management in your operations?
A successful inventory management operation is hard work, but some warehouse inventory management systems can help take a lot of stress out of the process. With Sage Intacct’s inventory management system, small businesses can stay competitive and corporations can easily navigate complex day-to-day operations.
Intacct’s inventory management system helps improve cash flow and reduce risk by managing data for the warehouse, product lines, items and price lists. Tasks such as the receipt of inventory, inventory transfers, inventory adjustments and assembly kits can help manage the process of each transaction for traceability and reporting.
Inventory is always rapidly moving, making it difficult to manage. Many businesses have multiple warehouses, different units of measure and part numbers. Sage Intacct makes it easier to track, value and manage stock while maintaining accuracy.
It also provides real-time inventory accounting, which helps improve cash flow. Businesses can see all locations, products and statuses for real-time inventory management. Sage Intacct aligns teams to make smarter decisions through a single source of information. It can help automate invoicing, set efficient order points and save time and costs across the company.
Intacct also has a cloud inventory management system for businesses with multiple locations. It enables sales, finance, operations and logistics teams to collaborate with real-time balances and availability. The system helps make smarter reorder decisions and efficiently handles fulfillment and returns.
Intacct can help you manage the following key attributes to help improve the efficiency and accuracy of your organization:
- Inventory management of stocked, non-inventory, kits, services, and miscellaneous changes
- Purchasing and order management
- Serial and lot tracking
- Kit production and back flushing
- Drop ship and landed cost functionality
- Multi-warehousing with transfer capability
- Multiple costing methods
Globalization, technology and empowered consumers are changing how businesses manage their inventory. Using the right technology and systems in your company can provide essential insights into strengthening supply chain performance. Fulfillment is at the heart of the customer experience and is what matters. It increases loyalty and ensures customers return to your business. To grow, it is critical to meet expectations and deliver orders efficiently. Striking the right balance in inventory size is vital for companies with complex supply chains and manufacturing processes.
If you find that your current processes and technologies are no longer suiting your business trajectory, it is time to explore Sage Intacct implementation options. Withum has vast experience helping manufacturers input the right inventory system that will help predict logistics costs and performance before they occur, and gain insight into where automation can deliver significant scale advantages.
For more information on this topic, please contact a member of Withum’s Digital and Technology Transformation Services Team.