«Almost 12% of global annual retail sales can be saved by using an automated inventory management software»
Elizabeth Brain, Marketing Manager ABM Inventory
According to statistics, about 40% of enterprises do not track the state of inventories or do it manually. Deliberate ignorance of stocks is expensive. Studies show that retailers around the world are losing $1.75 trillion a year due to easily preventable stock management problems such as:
- 642 billion in preventable returns
- $634 billion in lost sales
- $471 billion in surplus
This is equivalent to almost 12% of global annual retail sales.
Thus, the cost of illiterate stockpile management, or lack thereof, is high, as the data confirm.
Automating your inventory can save millions of dollars a year. Instead of mismanaging inventory management and manual operations, powerful cloud-based inventory and order management solutions can greatly simplify and increase business efficiency. The main task of such a system is to ensure the constant availability of goods in the right quantity at the right place and at the right time, because the automatic ordering of goods, their delivery, redistribution to the warehouse, the store is carried out according to a clear algorithm.
Advantages for you and your customers:
- Reducing the level of excesses.
- Reducing lost sales
- Working capital release
- Rational use of storage space.
Real-time inventory management
To transform your business and become a fast-growing company, you need to get your data instantly. It's almost impossible for a multi-channel business to update and synchronize all processes manually without the software. Human resources are not unlimited.
Optimization with the help of intelligent systems
The correct system offers a clear inventory management algorithm. This allows you to track sales trends through channels and customers and make the right decisions about the purchase and distribution of goods. Similarly, smart inventory management helps you better understand demand, the impact of seasonality, and how to adjust inventory to maximize profitability.
Freeing up time for more global challenges
Inventory management automation allows managers to reallocate their time to more important strategic tasks.
An enterprise that aims to scale up requires automation because the cloud software algorithm helps to redistribute inventories. This significantly saves time and reduces the cost of delivery.
The advantages of using automated systems are invaluable.
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All you need to do is choose a time and date convenient for you.