It shouldn’t be news at all that businesses are relying more and more on machines. However, some people fail to introduce them to the areas that could use them most. You might think that you really need to get hands on with your inventory to make sure it’s taken care of properly. But there’s a lot that the right tech could offer to help you avoid loss, to better understand the needs of the business, and even your customers.
Know what you need
On the grand scale of business strategy, the most important aspect of inventory management is knowing whether or not you need new inventory in and how much you need. Human error in calculating these needs can lead to some big problems. For one, you could lack stock when you are most likely to need it. On the other hand, you could end up getting too much stock, using storage space that costs money to maintain. The benefit of a digital inventory system is being able to make those predictions and the orders a lot more accurately.
Know where it is
Once you know what you need, it’s all about making sure you know where it is at all times. Again, humans are prone to forget where they’ve put something. Motorola barcode scanners are much less likely to get things wrong. They register the exact item, helping you create the list of every single item in the stockroom. That barcode can be checked every time it moves as well, meaning you keep your records updated and you don’t have to go fishing through the whole warehouse when you actually need the item.
Know where it’s going
Finding it when you need it is only part of the process, too. If you deal with deliveries, then learning exactly where that stock goes will play a big role in how profitably you can sell it as well. In particular, fleet GPS tracking technology helps you see the exact routes that your drivers are taking and in how much time it takes them to drive that said route. You can use that data to help them find routes that allow them to make more stops per trip and in better time. That means fewer resources spent to deliver the goods and thus fewer costs cutting into that potential profit.
Learn more about the business
Big data is the process of combining the data collected from all the different parts of the business to form a better picture of the realities of how said business is doing. For instance, that inventory data can be connected with data on online purchases or customer relationship management to give you a better understanding of what your customers are most interested in and to find more insight on the seasonal ups-and-downs of the business. This can help you make better decisions on finding new products that can help increase revenue or to anticipate and prepare for lulls in the business.
Get machines to take care of your inventory and you’re going to keep more of it and learn more of it. The time of human error in inventory management is at its end.