Having a centralized inventory management system is crucial for warehouses, retailers, and customers alike. This program ensures that every package, every shipment, and every pallet is tracked and monitored in real time. Here at Overflo, we work with the latest inventory management solutions the market to streamline our services and ensure constant communication with our clients. Here is a look at why centralized inventory management matters and what it does to help your business.
Reduced Risk of Human Error
Having a single, fluid system for managing inventory levels reduces the risk of human error. The system processes information its own and makes the data readily available to the warehouse and the retailer. Older systems required a lot of manual logging, which opened the door for complex errors from simple mistakes (like entering the wrong number a form). The more automated the programming can be, the more accurate the information is.
Keep in mind that all the data stored and shared in a centralized inventory management system is still reviewed by a human eye. Your information is not left unchecked just because the inventory levels are automatically generated. Machines can make errors much like humans can, but they are less likely to do so. In the event of an error, a supervising eye can notify the appropriate parties so it can be fixed right away.
Efficient Lines of Communication
Real-time inventory management not only gives peace of mind to merchant, but it also helps merchants communicate with their customers about their orders. Modern day consumers expect fast, consistent information. They want to be able to track their orders every step of the way. With a centralized inventory management system, that is completely possible. In the event of a shipping delay, the merchant can notify the customer right away and take the proper steps to maintain customer satisfaction. The easier it is to share information, the higher the satisfaction levels will be.
Merchants can make quick decisions about their stores based the updated inventory information they receive from the warehouse. If there is a surplus of products in the warehouse that needs to be cleared out quickly, the merchant can choose to have a sale for that item or promote it in a special way to make room in the distribution center. If there is a limited quantity of an item in stock, the merchant knows to re-order from his or her supplier to meet consumer demands. And thanks to the centralized inventory management system, all of this can be communicated between the merchant, the warehouse, and the supplier in a matter of minutes.
Maximum Productivity and Efficiency
With the amount of automatization available in today’s inventory management systems, workers can get shipments out with maximum efficiency. Order pickers still have to move around the warehouse to collect goods, but they can quickly scan information in to find those products and ensure they match the order they’re filling. Because of the limits to human error mentioned above, there is a lower chance of something going wrong during the order fulfillment process. This reduces returns and ultimately puts more money in a merchant’s pocket.
Simply put, centralized inventory management improves efficiency in every area of the logistics industry. Make sure you work with a warehouse using up-to-date, real-time inventory management solutions, and you will be able to keep your customers happy with your company.