Does your team struggle with missing inventory, inventory held in different locations with different owners, or lack the ability to track your inventory in your organization?
Do you know the exact count of each item stored as well as the total cost of ownership?
Are you using FIFO, LIFO, WAC? Does this meet your Accounting and Finance teams needs?
Inventory Management, if done correctly, can be a profit saver for your bottom line as it is used for cost control of operations through the management of raw materials,finished products, warehousing, and processing of such items. Gone are the days of Excel spreadsheets listing possible costs, product counts, and warehousing fees.
Inventory Management systems have become a necessity with company growth. Product storage can often lead to quick solutions for business aquisitions and growth, however without a system in place, products are often forgotten or incorrectly accounted for. Accounting and Finance teams rely on the most up-to-date and accurate data available. When product is stored and not accounted for appropriately, your team is only capable of reporting data with the limited information that is given. Poor data equals poor growth and cuts in company profits. A successful business will have access to correct data reporting through inventory locations, owners, count of items, and total cost of ownership with the click of a button.
With our many years of experience, we can help implement new Inventory Management systems to put your business on track!