Inventory Management with STORIS
You can’t run a furniture business without furniture. This is stating the obvious, but without software, you probably don’t have the proper handle on your inventory. Do you know exactly what products you have and where they’re located at all times? With a reliable and intuitive software, your answer will always be a resounding “yes.” STORIS’ product suite offers:
- Inventory Tracking
- Just-in-Time Inventory Management
- Barcode Scanning Integration
- Forms Designer for Tags & Labels
- Advanced Warehouse Management
STORIS Inventory Management software allows you to maintain control over your inventory levels, not only in your brick and mortar location but across eCommerce and mobile as well. With real-time capabilities, you won’t have to waste time waiting for updates on your own business. Plus, manual efforts will be eliminated and inventory will be more accurate.
Do you want to keep tabs on what products are popular versus the ones that don’t even get a second glance on the sales floor? With Inventory Control you can identify what sells and what sits, which makes the merchandise planning process much more effective. You’ll also be able to determine what items are slowing down your turns so you can develop a strategic selling plan. Keep up with the latest industry trends and figure out strategies to smartly sell items.
Similarly, Chron.com notes that inventory management helps to avoid “overstock.” They note, “Overstock comes with its own set of problems. The longer an item sits unsold in inventory, the greater the chance it will never sell at all, meaning you’ll have to write it off, or at least discount it deeply.” Having the right tools ensures that you will have a foresight on the amount of inventory you carry.
Counting your inventory may be a process that takes hours to complete manually, forcing you to close down your business operations just to get the job done. With the automation of regular Cycle Counts, you can use barcoding technology to complete the process in a significantly less amount of time and with much more accuracy.
Just-in-Time Inventory Management utilizes stock levels and customer demand to help you determine when to reserve the merchandise for a delivery date. This allows you to have what you need “just-in-time,” without over-carrying your on-hand inventory quantities, saving you money and floor space. Plus, your customers will be delighted with your delivery accuracy.
Do you know your retail store’s shrink rate? Having inaccuracy in your inventory can lead to a significant loss in revenue. Along with theft, administrative errors, and supplier fraud, the latest Global Retail Theft Barometer study reported $42 billion lost in the United States alone.
If you don’t have a firm handle on your inventory, you can be missing important information on what has been lost or even stolen. You may not even know your shrink rate, which leaves the amount of money you’re losing a mystery. Over half of our Clients have noted an improvement in their shrink rates by using STORIS. Wouldn’t you like to be able to say the same for your business?
Overall, inventory is the core of a retail operation. To ensure accuracy, determine strategies for selling, and make your processes easier, intuitive software is not only helpful but necessary.