Five Reasons Why You Need An Inventory Management Software In 2021 - Fieldproxy

Every business needs an inventory management software in 2021, and if you think your business doesn’t need one, we’re here to convince you otherwise

Posted by By Shoaib Ahmed on 2021-08-17

What’s In This PAge

What Is An Inventory Management Software?
-- Better Customer Support
-- Increase Profits
-- Greater Efficiency
-- Increase Sales
-- Better Inventory Control
How Fieldproxy Can Help Your Inventory Management Needs
Closing Thoughts

Inventory management is not a simple task. Many organisations use fairly simple tools like Excel and physical paper forms to keep check of their inventory, but that hardly works. With excel you get a lot of processing power, but functionality wise you’re not getting state-of-the-art weaponry. If you’re managing a heap load of inventory, getting all that data tracked, maintained, and recorded and readjusted in Excel is a fairly difficult task and one that is next to impossible without an automated inventory management software.

What Is An Inventory Management Software?

An Inventory Management Software makes inventory tracking faster, easier, and more accurate - by automating inventory and record keeping. What this essentially means is that it can help you save a lot of time and manpower wasted in finding and keeping track of what is and isn’t in your store. Think of your local pharmacy - whenever you visit the drug store and ask for a prescription drug, the pharmacist searches on their computer to check if that particular medicine is in stock. They do this by checking into an inventory management system, which keeps track of all the medicines in stock. An inventory management solution is your answer to maintaining an overwhelming amount of inventory without feeling overwhelmed. If that still isn’t enough of a reason, the following five will explain just how critical it is for your company to invest in good inventory management software like Fieldproxy:

Better Customer Support

Seeking to increase revenues without having a reliable inventory system means employees will be required to spend more time counting inventory and recording the inventory levels rather than talking to clients and solving more problems. This slows down customer service and leads to lost sales from frustrated customers who can't find or get a product they want. With a proper inventory management software like Fieldproxy, you’re essentially eliminating the need for having to record and maintain data over longer periods. That means your sales teams have more time to follow up on leads and prospects than maintaining stock lists.

Increase Profits

Increasing profits by reducing inventory costs when inventory is not managed effectively, employees will have to wade through inventory messes that will cost them valuable time. They will also likely make errors when manually recording inventory data which means inventory counts may be inaccurate which in turn means the wrong amount of inventory might be purchased and/or products might be missing from inventory shelves which contribute to lost sales as well as increasing expenses due to shipping costs as additional inventory is shipped based upon incorrect inventory counts.

Greater Efficiency

Many companies around the world use an outdated manual entry system for adding stock and maintaining product catalogues. This takes away a lot of time from their daily work hours and is an area where efficiency can be improved, and by drastic margins. With inventory management software like Fieldproxy, employees can spend more time on other important activities, such as filling customer orders instead of entering data into clunky and outdated spreadsheets. Also, workflows will be more efficient when you use an automated inventory control system for doing tasks like getting approvals from managers before replenishing items that are low in inventory. All this is pretty straightforward stuff when you’re using Fieldproxy. All you need to do is add a couple of workflows, introduce some tasks, set some limits and constraints, and you’re good to go. If this sounds a bit complex, you can always have Fieldproxy’s account management team create your workflows for you. Schedule a demo call for Fieldproxy today.

Increase Sales

Increasing your sales numbers starts with getting your stuff automated. And one of the biggest pillars you need to automate is your inventory. Your product’s sales can double or even triple just by using a smart inventory management software that can track and automatically fill in your customers whenever their inventory is about to get depleted. It also greatly helps in marketing. For instance, pet stores that offer customers a 10% discount when they buy more than one bag of dog food, or grocery stores that offer customers a discount on the second pack of laundry detergent - all these can substantially increase revenue opportunities. Having no inventory control software will undoubtedly slow down your ability to react to upselling opportunities, leading to increasing costs due to poor sales and lower profits, which in turn will cause even poorer inventory management.

Better Inventory Control

When you have an automated inventory management system available for viewing product inventories, it will be much easier to gauge demand for high priced items like plasma TVs versus low priced items in general. Your customers/clients will also have better control over who to order products from. They will know where to order and how to place an order on the system, saving your sales team time from calling and asking them for a refill.

How Fieldproxy Can Help Your Inventory Management Needs

There are a lot of free inventory management software on the internet, and all of them work as advertised. So why are we stressing on Fieldproxy so much? It’s because Fieldproxy does more than just serving as your inventory management system. With Fieldproxy, you will be able to: Conduct multiple different inventories and catalogues, completely customisable and tailored to your business.

Store past data, to ensure you’re capturing the right details, and cross-check incorrect data.

Supervise your inventory site visit teams, and assign, retract, and promote tasks and responsibilities to each and everyone in the team.

Customized reports, with better presentability and non-complicated setting up procedure.

Collaboration with different project leads and supervisors to gain insights and improve on performance and efficiency.

Capture and store logs of all equipment/inventory purchased in the name of the organisation and the field team in particular. Using Fieldproxy’s online inventory control system, you can create and manage your company's product inventories online by using an intuitive, easy-to-use web interface that includes functionality for managing inventory as well as margin analysis and more. You can even do it via the software’s Android or iOS platform. Managing your inventory with Fieldproxy is just way simpler and hassle-free.

Closing Thoughts

There are many more benefits to using an inventory management software like Fieldproxy:

  • Cost-effective in the long run.
  • Access to information at any time from any computer with an internet connection (your survey data is backed up).
  • Easy and quick to create and save information when out in the field.
  • Photos and notes are easier to attach than writing on the photos themselves, thus making it cheaper for you as you need less paper, pens or pencils. More time in photo viewing mode.
  • There is an initial cost attached to buying this type of application but it's worth every penny if all goes to plan. Some field survey applications can be complex to use at first.
  • You may lose valuable information in the field by not writing it down straight away. But don't worry, capture the notes later in this type of application and it will be more easily accessible than having to try and decipher someone’s scribbled handwriting. Remember: you also get timestamps with Fieldproxy’s inventory management software. Book a demo with Fieldproxy today, and take your inventory management team to the next level.

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