What Results Can I Expect from Using Inventory Management Software?

For weeks, I’ve been answering inventory management questions: How do I manage a warehouse? How do I track inventory in multiple locations? How do I get the best value for my money with inventory control software? What is the best way to manage inventory? And now for the culmination of it all: What results can I expect from using inventory management software? There are numerous benefits of using this software in your business. Here are some of the more prominent ones:

Empowered Workforce

With barcode scanners and an in-depth knowledge of inventory software, your employees will be able to get a lot more done during their workdays. Instead of having to wait for a dedicated warehouse worker pick items off a shelf or put new products away, they can do those things themselves. Processes that used to take hours can be done in fraction of that time.

Lower Expenses

With employees getting jobs done quicker and inventory levels getting balanced, your business can expect to cut expenses significantly. Inventory management software saves money by reducing your storage needs, carrying costs, overstocks, and other unnecessary expenses.

Quicker Response Times

When multiple purchase orders come in, you can pick all of them at the same time, find the right containers to package them in, and then alert UPS, FedEx, or whatever other carrier you prefer that you have a package waiting for them to pick up. All of this leads to quicker response times. Your customers will get their orders delivered faster and you’ll have a more productive and efficient workplace.

Better Planning

Good inventory management software has the ability to generate reports based on the data it records. For example, if you want to see which products are your top sellers at each of your locations, you can access that information in graphs, charts, and spreadsheets. These reports can help you figure out where you can make the best use of your resources. Seasonal planning, location planning, and many other strategies can be formulated through this data.

Optimized Warehouse

You won’t have to hunt through your warehouse to find products. You can access detailed maps showing where everything is by bin and shelf number. Not only that, but you’ll be able to move things around to optimize their placement in the warehouse. If two or more products are usually sold together in the same order, you can move them next to each other in the warehouse to speed up the picking process. You can also put low-selling items farther away from, and high-selling items closer to, the receiving door to decrease the amount of time it takes to put them away and get them ready for shipping.

Expect Big Results

These are some of the biggest results you can expect from using inventory management software in your business. You don’t have to think about these purely in the abstract, either. Check out real-life examples of companies that have seen dramatic turnarounds in their operations by implementing Fishbowl Manufacturing or Fishbowl Warehouse: Fishbowl Case Studies. I hope you’ve enjoyed this series of blog posts. I’ll have a recap of everything we’ve discussed next week. And then expect even more great insights and updates on the Fishbowl Blog in the future!