Small and medium-sized businesses may be able to manage inventory and suppliers with little more than basic software, for a short time. However, inventory control can become more time-consuming and difficult with growth and changes in product lines. You may begin to experience stock-outs and backorders, which can cause customer frustration. As we head into the busiest shopping season of the year, this is the time to fortify the supply chain and the technology you use to manage inventory and suppliers.
A small product line requiring minimal inventory might not be difficult to manage with spreadsheets or specialty software. But for growing businesses, this situation won’t last for long. An expansion of product lines or an increase in demand, as with the upcoming holiday shopping season, the volume of inventory movement and production will increase. As raw materials and finished products begin to move about the warehouse and production lines with increasing volume and frequency, it becomes very easy to lose track of the items you have on hand. Stock-outs impact production schedules and when customers are forced to wait for backorders, your reputation and customer loyalty is at risk.
Control Inventory and Strengthen Supplier Relationships with ERP
Strengthen your supply chain by deploying a robust enterprise resource planning (ERP) solution, like Microsoft Dynamics GP. You can manage your core operations within this single, integrated solution including financial transactions, inventory management, supplier and vendor relationships, manufacturing and distribution operations, as well as human resources and payroll activities.
With Microsoft Dynamics GP, you can track inventory with barcodes as it comes into the warehouse and is used in production, as well as when final products are picked, packed and shipped to customers. Dashboards and business intelligence features highlight key metrics, such as volume of inventory on hand or product popularity. Automatic alerts will notify procurement when raw materials have diminished to the safety buffer level. Using this data, leaders will be able to forecast inventory needs to avoid stock-outs, while maintaining what is needed to satisfy customer demand. The procurement team can also identify trends in product preferences or customer buying behaviors and save money by strategizing procurement decisions, such as buying in larger quantities.
Basic software can support certain business processes, but often only for a small window of time. Position your business for successful growth by deploying ERP. Contact OTT, Inc. for more information about fortifying your supply chain with Microsoft Dynamics GP.
By OTT, Inc., a Microsoft Dynamics Partner out of Minnesota