Store Inventory Control
When you integrate your systems, store inventory control workflows can be streamlined to save you time, money, and aggravation. Ecommerce stores are the customer-facing part of the business that can handle some degree of inventory control; however, managing end to end operations just isn’t possible without the additional functionality of a comprehensive inventory software solution. That’s where SOS Inventory comes in – we’ve designed our platform to supercharge your inventory functionality with seamless API integration.
Online orders have increased dramatically over the past year. Sellers have made snap decisions about supply chain changes, staff size, costs and taking their brick-and-mortar businesses to new channels to survive the pandemic closures. It has been a period of evolution for retailers, demanding greater control over inventory to adapt to these challenges. No matter how your selling strategy evolves over time, you will always need careful management of your inventory to stay profitable.
In Store and Online Inventory Integration
Ideally, every businesses goal is to have accurate in-store and inventory data. If you are handling operations such as production and fulfillment on Excel spreadsheets, you are essentially building islands of information and there is a very real chance of data inconsistencies.
For manufacturers selling direct to the customer, each department’s spreadsheet will be unique, and the raw materials used for work in progress will very likely indicate different costs and quantities; this could be due to transcription error, or simply timing, especially if one reflects the beginning of the workflow process and the other represents the end of the workflow.
To keep data uniform and costs accurate at all stages of workflow, centralizing all information for each product at each touchpoint is the key to accurate inventory information throughout the company. SOS Inventory was designed to make this a simple, painless process.
Store Inventory Software
Perfecting the balancing act of inventory optimization to minimize inventory expense while meeting consumer demand is manageable with the right set of tools. SOS Inventory can be synchronized to any ecommerce platform, providing real-time inventory updates and order management for comprehensive store inventory software features. SOS Inventory also integrates your financial information directly with QuickBooks Online for accurate reporting and analytics.
Managing Perishable Products
Food products, cosmetics and medications are examples of products that can spoil if not sold prior to their expiration dates. Keeping track of those dates and having a system in place to move products along in a first in first out method, to ensure fresh product is always on hand, requires every detail associated with a product be recorded as it moves throughout your facility. To protect your business from the pitfalls of tainted products, SOS Inventory provides lot and serial tracking for forward and backward traceability functionality – a must have for business survival!
With better data visibility, profits will be increased. You will quickly be able to identify your best sellers as well as the items that sit on shelves collecting dust. Adjusting reorder points to keep your money makers in stock while minimizing products that become dead stock is pivotal to running an efficient inventory operation.
Some products, like clothing, rely heavily on trends and seasonality. Sales are lost when there is not enough product on hand. You need up to the minute accurate inventory counts of your products so you can decide if promotional pricing is needed to move slow selling items.
Great store inventory control will save you money in labor and warehousing costs while giving you accurate product counts from every location and department of your company. Update inventory instantly as it arrives with a barcode or RFID tag scan and update product information at every workflow stage. SOS Inventory keeps your inventory accurate, your labor costs minimal and is scalable ensuring your systems will grow with you.
Q: How is inventory stored?
Inventory can be placed in one or more warehouses, delivery trucks, distribution centers or the manufacturing facility.
Q: What are some methods of controlling inventory?
Different industries require different methods. Some high-end items, such as cars, use a just in time inventory model to accommodate customization for options chosen by the customer. There are a variety of different formulas that can be applied to minimize inventory on hand or determine reorder points from MOQ, EOQ, safety stock, FIFO, LIFO, etc.
Q: What does store inventory control mean?
Store inventory control refers specifically to the inventory located at a retail location.
Q: What is a storage and inventory control system?
A system that monitors both inventory and activity at a warehouse offers both inventory software capabilities and warehouse management software features, as you will find with SOS Inventory.