Inventory control is a managed science that helps to ascertain that an inventory is available exactly when needed. What happens with loose inventory control?
- Your customer has to suffer a longer waiting period which may result in business loss.
- You may end up in higher procurement costs since you have to hurriedly make procurement to fulfil demand.
- You may end up stocking inventory for a longer period resulting in capital loss.
So essentially, Inventory control helps you to increase your profits, improve your business reputation, and improve cash flow. Now let us understand how Columbus can help you achieve these.
Columbus provides an instant and dynamic dashboard for the Top 10 frequently ordered inventory. This helps is improving focus on limited number of products rather than your entire SKU. The procurement manager can with a single click order the most popular product to ensure sufficient stock is maintained for fast moving products.
Another dynamic dashboard helps identify those inventory that are nearing Dead Stock Level. It helps you to save time in searching and identifying those SKUs which need immediate re-order.
Analytics dashboard also provides with least moving products which can be applied to a special scheme to sell it off. This helps in reducing the storage of inventory for longer than desired period thereby improving cash flow.
Columbus is the only inventory management system which accepts and records back orders. This helps the system grow better inventory control and intelligent to better plan procurement of those SKUs with larger back orders.
The ability to create your own bays and bins for your warehouse, helps you to store your inventory in a proper planned manner which substantially reduces the retrieval time for the Warehouse manager.
Columbus also offers another very important aspect of Inventory Control – Inventory Audit. This helps in keeping a correct stock of your inventory when compared to your tool versus actual on ground.