Join us on August 20th from 2:00 - 3:00 for our next webinar co-hosted with NETSTOCK. This will be the second session of our webinar series focusing on inventory control and management. Our June webinar had excellent feedback from all attendees (contact us for recording) and we know this one will be just as valuable.
Some will know what I mean by that title. I’m referring to all the software add-ons that have been “bolted” onto your accounting system, to cater to your business. It was a necessary evil at the time, but now you’re finding it more and more cumbersome to have all of these different software products pieced together. Your system has grown out of control and into the monster known as the “franken-system.”
Inventory Planning is essential for small and midsize Distributors and Manufacturers. Everything revolves around inventory and every item in your warehouse represents a piece of data. The more you know about it, the better - how often it sells, how long it takes to replenish, and how much you need (and when). Even smaller businesses are now dealing with a global supply chain that requires a high level of inventory planning. If not done correctly, it can have a major impact on your warehouse and other parts of your business, while leaving customers frustrated. So, what steps can you take to recognize what you could be doing better?
Most of us realize that spreadsheets, while popular, are fraught with potential errors. As business requirements grow, customer expectations increase, and the supply chain becomes more complex, using a spreadsheet for inventory management becomes risky. The potential for multiple data errors – from input to formulas - will impact your efficiency and your bottom line.
As a food distributor you know that technology matters. And the right technology becomes essential to everyday life in your organization. Because the right technology impacts buying, forecasting, inventory management/warehouse management, pricing management, and certainly retail delivery; selecting and implementing the right ERP in food distribution becomes both a science and an art.
When it comes to Enterprise Resource Planning (ERP), many small and midsize business owners, distribution center managers, and executives feel “stuck” with a deteriorating legacy system. They don’t see the value in upgrading to an entirely new system when they could hire more personnel, or buy/lease additional warehouse space. The ROI of investing in a modern ERP system may not leap off the page at first, but it WILL reduce the need for increasing support staff and/or adding additional warehouse space. Ultimately it will help you become more profitable by streamlining processes, solving inefficiencies, and allowing you to focus more on growing sales.