1. Integrate order entry.
Do your processes include writing down your customers’ orders, only to have someone else enter the information again to create an invoice? If so, you’re spending more money and time than necessary paying two people to do virtually the same job. You can save time and increase the accuracy of your orders by implementing order entry into your system. Using order entry allows a person to enter and save an order, and that same order can be converted to an invoice when ready. You will save money and also reduce human error, increasing customer satisfaction.
two. Automate the sale of different units of measure.
Some customers want a box, some want a full pallet, and some just want one of the same item. Sounds familiar? Do you have to ‘trick’ your software to handle this scenario or end up doing inventory adjustments? You can solve this costly problem by setting up an inventory item with multiple units of measure. By setting the units of sale you need for each item, you can have your system calculate how many you have in stock per unit, and you can easily buy, sell, and stock your items however you choose. This can save you a lot of time and will also give you a more accurate picture of how many items you actually have in stock. More importantly, you can quickly tell your customer how many you have in stock in their chosen unit of measure.
3. Configure and use assemblies to build or ‘equip’ items.
Do you put several items together and sell them as a kit? Or do you make something made up of many raw materials? Do you support the laborious process of entering each end item piece separately into your accounting system? If so, you can drastically reduce time and increase accuracy by configuring these items as “assemblies”. Setting up an assembly allows you to place a finished product on an order, and it will take all of your out-of-stock components behind the scenes. This reduces data entry and keeps inventory counts and costs accurate.
Four. Take a physical inventory more frequently.
Having an accurate count of items in your inventory can save your business money, and your customers will be delighted to get a quick and accurate response as to whether an item is in stock. You can make your physical inventory process easier by using a system that allows you to keep selling products while you’re running counts. The sales staff is happy that they can keep selling, the warehouse manager is happy that the counts are accurate, and the customer is happy to receive accurate information in a timely manner.
5. Track inventory by location.
Is that item in the back storage? On the retail floor? Or is he in one of the delivery trucks? If you store items in more than one location, you should be able to quickly see where exactly it is by location. You can achieve this by setting up more than one inventory location in your software. If you have the ability to set unlimited inventory locations, you can even set (for example) a delivery truck as your own location. Setting up multiple warehouses saves you search time and can also reduce costly shrinkage.
6. Automate lot and serial number item tracking.
Are you still tracking your serial or lot numbered items on paper or spreadsheet? Not only does this make receiving those items time consuming, but there is no trail to associate your customers with the serial or lot numbers of the items they purchase. You can configure your system to capture and store the serial or lot numbers of your inventory upon receipt. Then, when you enter your customers’ orders, you can choose which serial/lot numbers they have purchased. Your business will save a lot of time by keeping track of those numbers in one system, and you’ll keep your customers happy by being able to quickly access the serial or lot numbers of the items they’ve purchased. This also helps you easily keep track of warranty information.
7. Let your software system keep track of customer prices.
Tired of flipping through the archives to find out what your customer last paid, hoping that the top page is the most up-to-date? You can eliminate this hassle by setting your customer prices in your software system. By setting customer prices in the software, you’ll ensure greater accuracy, keep your customers happy, and save yourself time and hassle, too.
8. Track the profitability of inventory items.
How easy is it for you to see which items are the most profitable? How do you know that the items you promote or sell the most generate the most revenue? With the ability to run reports showing profitability (gross profit margin) for each individual item, you can check frequently to ensure you’re selling the correct items. With easy access to this information, you can focus your sales and marketing departments on selling and promoting the most profitable items, thereby improving your bottom line.
9. Enter purchase orders from order entry.
Have you ever run out of an item and forgot to order it for your customer? You can have your system prompt you to enter a purchase order directly from the order entry screen. By doing this, you will ensure that you get the items for your order, keeping your customer happy. You’ll also save time by taking care of both functions at the same time.
10 Know what items you have so you can keep the correct number in stock.
Are you surprised when you run out of an item? But what happens when you find a large overstock? Set up your system to maintain a minimum and maximum quantity for each item. You can then easily run a report at any time, showing what’s running low so you can order more before you run out. You can rest assured that you won’t be wasting valuable shelf space by stocking excess items. This will also streamline the purchase order process, saving your company hours of time.