By definition, inventory means finished products or raw materials which are still in stock while inventory management is the process of managing and overseeing the maintenance of these stocked goods.
To fully manage stocked goods within a business, the following must be present
Inventory management is very essential to every business regardless of the size as it largely forms part of the current assets in a business. With effective inventory management, a business can prevent warehousing issues like understocking, overstocking, absence of stock traceability which affects a business negatively.
Proper inventory management is very essential especially when the size of inventory is rapidly increasing. This is a key to sustaining your business growth. Therefore, at this stage, having a system that is fully compatible with your inventory management process is very crucial.
Seeing this need. At upstore, we ensured to embed inventory management function in our all-in-one business software. With this, you can manage your inventory from a centralized platform, just from the comfort of your mobile or desktop browser.
Here, let’s take you on a tour of how our inventory management features can help you improve sales in your business.
This feature takes care of assessing material availability against the number of products in demand and reserved stock. Giving you real-time knowledge of goods available in the warehouse
Using this feature, it will be hard to ever disappoint your favorite customers with their most preferred products. Inventory forecasts goods that will soon be out of stock and the ones in abundance. Hence, you’ll know when to restock
Here, you can view from a single platform list of your suppliers, their prices, delivery time, material supplied, and quantity already available. Giving you control over your warehouse management.
You can easily compare your sales price and purchase price via these features. Hence, you will have the ability to deliver more competitive price ranges amongst your competitors
With our all-in-one business software, purchase orders can be created automatically to replenish exhausted products or materials
Upstore makes it easier to generate well-detailed inventory reports that comprise information about products in the warehouse and their location.
This feature makes it easier for you to track goods available in the store via their serial numbers, barcodes, or tags. Inventory operations can also be traced. Hence, increasing goods and operation traceability in your store.
Data and information about your inventories can easily be accessed on the operation dashboard.
You can back up your inventory data for when you want to access them anytime. These features also shield you from the consequences of data breaches and hacking. All your accumulated inventory data will be safe.
Upstore also offers automation features where you can automatically create purchase and sales orders, including generating all inventory-related reports.
Generally, inventory management helps to reduce stress and errors associated with accurately managing warehouse or store inventory. It also eliminates all forms of surprises as it grants you real-time knowledge of what’s available in your stock.
So, if you wish to enhance your inventory management, Upstore's all-in-one business remains an efficient tool that can help you. The amazing fact about this software is, that it brings all aspects of your business to a centralized platform where you can manage your inventory and as well monitor other things related to your business.
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