In terms of being able to properly manage your warehouse, inventory management software is absolutely vital. Most companies, especially newer ones that started small and are growing, often don’t understand how to get the technological backing and upgrades needed to be able to effectively use warehouse management software. After all, there’s the entire process of getting the infrastructure in place (hardware and the appropriate connections), as well as finding the right warehouse software to accurately manage your inventory and associated warehouse processes. A further consideration, then, is integrating that software into your existing enterprise resource planning (ERP) system or accounting package..
HighJump offers one of the finest opportunities for third party logistics (3PL) with our inventory management software. Instead of having to go through the hassle of upgrading your entire system as well as finding, or coding, your own programming, we can make your entire process run as seamlessly as you would like it to run.
While many people initially resist the idea of having this type of software solution involved in their business, you need only consider the efficiencies gained from not needing to have paper invoices, paper accounts payable, or the issues that come when inventory is mislabeled or misplaced – all leading to an impact on your profit margin.
One of the simplest ways to integrate your inventory solution to your retail business model is through a POS, or point of sale system. In short, using a point of sale system keeps a digital record of everything which is sold through your register, thus continually updating your database of stock so that you know what pieces are moving and what is sitting, unsold, in your inventory. Since no one is ever in business to gather stock, this tells you which products need to be priced to move and which products can be priced a little higher – because they are already moving.
Furthermore, with a retail POS system, you can track customer data and buying habits to further integrate them into your warehouse inventory management system. In doing so, you will be able to look at purchase and inventory data across entire stores, warehouses, or even date ranges. With this information in hand, you can better target your pricing, advertising, and inventory to make sure that you hit the best customers during the best times — all because you will have HighJump there helping to manage your inventory and allow you to do what you do best: take care of your business.
No matter what type of business you are in, if there is stock/inventory to be moved, then having a warehouse inventory management program will only improve your bottom line.
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