To meet your customers’ expectations, you need to have the right products on hand to fill your orders. Inventory Management is key to a profitable operation. What inventory to purchase and how much to buy are daily decisions made by inventory managers. Your warehouse has limited space and your budget and caring costs need to be considered when buying inventory.
With Masterworks inventory management tools you can help staff make the right choices:
- Using our “Recommend to Purchase” (RTP) system, you only order what you can sell in a given period.
- Easily manage your shipping costs and economical order quantities to get products at the lowest unit cost for your foretasted sales.
- Know how much you can sell by using detailed graphs and tables to review product life cycle and product demand over time.
- Access the automated exception reports that alert your staff to issues in your supply chain, before they become critical.
- Manage inventory discrepancies using cycle counts and period counts to quickly adjust for inventory quaintly issues.
The Masterworks Inventory Management tools provide the real-time data for staff to make the smart decisions on purchasing and sales forecasting. You will have the right products in stock to fill your customers’ orders when you need them.
For larger operations, you can implement bar codes and scanners to help reduce picking errors in your warehouse. Scanners can be used in picking, order confirmation and shipping to validate your picking process and eliminate errors on orders. To improve accuracy, use hand-held scanners in the warehouse to pick, pack and count your inventory. You can learn more about the value of scanners in the warehouse from our blog.