Erpisto #1 Inventory Software in Pakistan The glamorous, glamorous focus of retail businesses is inventory management. Marketing, sales, and product are the landmarks of a cityscape. Operations and inventory are underground infrastructures such as plumbing that no one wants to pay much attention to.
But, much like pipes and plumbing are essential for a city to function, effective inventory management is essential to a retail business in order to grow and scale.
These are five signs that your company needs to upgrade its inventory management software in order for your retail business to grow and scale.
Erpisto #1 Inventory Software in Pakistan
Five signs that your inventory management software is no longer working:
- You spent most of your time consolidating data from disparate systems.
- You frequently have out-of-stocks and back-ordered items in your sales channels.
- Your cash is tied up in excess inventory
- You don’t have a sense of your true inventory.
- The business is growing at a rate that your operations can’t keep up with.
What is inventory management software and why are you using it?
Inventory management software allows you to automate, integrate, and customize inventory management software. This makes it easier to manage inventory, which is an integral part of every retail business. An inventory management software solution has many benefits, but the most important ones are Increased efficiency, visibility across multiple channels, and greater control over your inventory. And Eventually Higher profits.
Any inventory management software can be a big step up from spreadsheets that can be tedious and full of errors. However, there are many options when it comes down to selecting the right software for your company. It is easiest to sort your inventory management software options into three categories: integrated, robust, and ERP.
There are pros and cons to all these options. However, the best inventory management software will help you gain greater visibility and control over inventory, whether it’s a single-channel operation or an international multi-warehouse operation. Good inventory management software in Pakistan can help you unlock scalable growth.
Find out which solution is best for you. Get our ebook How to Choose Inventory Management Software For Retail Success
Entry-level solutions are a good option for small businesses with just one or two sales channels. They can save you money and still allow you to have better control over your inventory. Your inventory management system may not be able to meet the needs of your growing business.
How do you determine when your inventory management software is ready to be upgraded to better handle your rapid growth?
1. Most of your time is spent consolidating data from different systems.
When order volumes were low in the early days, the product was produced in-house and shipped directly from your office. This manual data consolidation process was easy to manage.
As you grow, you may need to outsource manufacturing, manage multiple warehouses, and maybe even partner with a 3PL. Manually consolidating inventory data can become infinitely difficult.
Solution If you spend hours per day combing through multiple data sources trying to find the bottom of your inventory, then you are putting yourself at risk of losing thousands of dollars due to inefficient processes or inaccurate data.
Stitch is already helping me save a lot of time. The other day I needed to make a purchase order for upcoming deliveries. Stitch’s reporting made this process much easier. It usually takes me hours to pull data from five different systems and put it all in Excel. It took me only 15 minutes this time.
— Lauren Kutting, Founder & CEO, Life in Play
2. In your sales channels, you often have back-ordered or out-of-stock items.
You want to make sure that your brand is growing and can take advantage of every opportunity to sell. This means that your most popular items, especially those that are highly sought-after, must be kept in stock so that they can be purchased by the customers you have worked so hard for.
Despite this, $634.1 billion was lost in retail sales due to out-of-stocks in 2015.
This is due to poor inventory planning and impulsive restocking. It is nearly impossible to keep track of stock levels when you have thousands or even millions of SKUs, and many sales channels.
Solution: Advanced integrated inventory management solutions in Pakistan such as Stitch can give you visibility into product performance per channel, helping you plan ahead and avoid costly backorders and out-of-stock situations.
“We reduced backorders by 93% with [Stitch]’s preventative measure on our highest volume day.”
James Hargett Manager, CX, and Fulfillment at Chubbies
3. Excess inventory is holding you back from your cash
Excess inventory, which is similar to out-of-stock, can also be detrimental to your business’ growth.
Overstocks might not affect customer experience or expectations but they can have an impact on cash flow and warehouse space. Slow-moving inventory can clog up precious resources and cause a loss of cash flow. Brands will often resort to drastic discounts to clear excess inventory. This can reduce sales margins and lead to lower revenue. In 2015, overstocks contributed to a $471.9 billion loss in revenues.
Solution If you are constantly having to clear excess inventory it could indicate that you need greater visibility to your inventory in order to plan, buy, and allocate stock to different channels.
“Our inventory is so small that we are able to consistently meet the metrics Amazon is looking at.” They trust that we will run their warehouse as efficiently as FBA.
— Jim Hobart, Co-Founder & CEO | Alpaca Direct, Stitch Customer
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Inventory Software in Pakistan in Lahore Karachi Islamabad Pakistan
Inventory software in Pakistan in low cost in Pattoki, Pirmahal, Qila Didar Singh, Rabwah, Raiwind, Rajan Pur, Rahim Yar Khan, Rawalpindi, Rohri, Sadiqabad, Safdar Abad – (Dhaban Singh), Sahiwal, Sangla Hill, Samberial, Sarai Alamgir, Sargodha, Shakargarh, Shafqat Shaheed Chowk, Sheikhupura, Sialkot, Sohawa, Sooianwala, Sundar (city), Talagang, Tarbela, Takhtbai, Taxila, Toba Tek Singh, Vehari, Wah Cantonment, WazirabadOur Head Office is cover sales in Sindh, Ali Bandar, Baden, Chachro, Dadu, Digri, Diplo, Dokri, Gadra, Ghanian, Ghauspur, Ghotki, Hala, Hyderabad, Islamkot, Jacobabad, Jamesabad, Jamshoro, Janghar, Jati (Mughalbhin), Jhudo, Jungshahi, Kandiaro, Karachi, Kashmor, Keti Bandar, Khairpur, Khora, Klupro, Khokhropur, Korangi, Kotri, Kot Sarae, Larkana, Lund, Mathi, Matiari, Mehar, Mirpur Batoro, Mirpur Khas, Mirpur Sakro, Mithi, MithaniThe Barcode Shop deliver high quality Face Recognition in Moro, Nagar Parkar, Naushara, Naudero, Noushero Feroz, Nawabshah, Nazimabad, Naokot, Pendoo, Pokran, Qambar, Qazi Ahmad, Ranipur, Ratodero, Rohri, Saidu Sharif, Sakrand, Sanghar, Shadadkhot, Shahbandar, Shahdadpur, Shahpur Chakar, Shikarpur, Sujawal, Sukkur, Tando Adam, Tando Allahyar, Tando Bago, Tar Ahamd Rind, Thatta, Tujal, Umarkot, Veirwaro, Warah
4. Complicated True Inventory
True inventory is more complicated than simply counting the products in your store or warehouse. This includes everything, including committed stock, reserve stock, restocks, restocks in the way, new product shipment, and products being transferred to another location. Each one has a quantity and an estimated date against which you can sell. This will help you sell smarter and grow your retail brand faster by understanding the potential opportunities and leveraging them.
But, managing all kinds of inventory across thousands of SKUs requires a remarkable level of organization and discipline without software or automation.
Solution: Advanced Inventory Management Systems in Pakistan like Stitch can integrate with your sales channels, warehouse management tools, and manage your purchase orders. They also transfer shipments and handle shipments. This will give you a complete understanding of your inventory.
Stitch is the brain behind selling products.
— Mark Hansen, CEO & Founder | Topo Designs
5. Your Operations are unable to keep up with the business’s rapid growth.
Your business will only move at the speed of the slowest moving piece. Operations is the slowest moving piece in retail. Operation is often the slowest part of retail. Products and new SKUs are constantly being added and Marketing and Merchandisers move at a rapid pace to drive sales. However, Operations have to work overtime to meet growing demand.
Solution If you are struggling to keep up the rest of your business or worse, you may need to reduce sales and marketing in order to manage current order volumes. This is a sign that you should upgrade to Stitch’s inventory
Software in Pakistan.
“By expanding into new channels with Stitch, sales have increased while errors decreased. This gives us a flexible way to respond and grow quickly.”