The Importance of Inventory Accuracy & The Easiest Way to Ensure It
Inventory records are of the utmost importance for running a successful business; having a strategy in place to manage inventory will save you time and money. Ensuring you have an accurate and real time read on your product allows you not only to keep your clientele informed on what you offer, but it also allows you to streamline your business practices in some very important ways.
1. Being informed on what you already have will give you the information needed to place precise orders to your supplier. This will prevent you from either over ordering causing an inventory surplus, or alternatively, not placing a large enough order which could cause longer wait times for your customers – possibly even driving them to order from a competitor.
2. Up-to-date Inventory counts afford you the ability to make revenue projections. Although it seems like a small benefit, by knowing your revenue projections, business decisions become easier. This information can inform how much you spend on your ad campaigns, where you can invest in other aspects of your business, and where you can expand or change your offerings.
3. Perhaps most important, accurate inventory creates a net time savings by preventing repeat manual inventory counts. Often times, manual inventory verification requires a large time investment and is subject to human error.
There are many benefits of maintaining accurate inventory records, but how do you ensure that you continually have an accurate read on the items that you have in stock? The answer is simple, by filling your orders correctly each and every time.
“We were able to improve our process time while eliminating errors. Providing our customers with correct products every time in todays market is huge! Shiptec is a tremendous asset to our business.”
Order verification is the new standard for any business that relies on shipping goods to consumers. When packing orders for shipment, it is essential to get it right. When a customer receives a shipment with additional items that weren’t in the original order, that can count as lost inventory, as we cannot rely on a customer to willingly return something they didn’t order. Similarly, if an order does not include everything the customer did order, you will spend additional time, and money sending another shipment to finish the order. This costs far more than the time it takes, but also the cost of the packing materials, the added shipping costs, and perhaps most importantly a repeat order from the customer.
Now that we have unpacked the potential costs of why order verification and accurate inventory are so important to you as a business owner, lets look at an answer that has the power to minimize the impact of inaccurate order fulfillment.
“We started with ShipTec’s Multi-Carrier Shipping Solution and after 6 months we purchased the Verbatim Order Content Verification Module to save time and increase our accuracy. This resulted in better customer relations and a substantial savings in time and money.”
The Shiptec Systems Verbatim Order Content Verification Module seamlessly integrates with the Shiptec Primus module (also compatible with other order entry systems) and gives you a simple, automated solution to ensure order accuracy. Once your warehouse employee scans the picking ticket, they are ready to pack the order, scanning each item as they go. The scanning system will notify the operator if an incorrect item is being packed, or if too many items are being packed into the order, and will also notify the operator when the order is complete and ready for shipment. Once the order has been packed, and verified, content labels may be printed for each individual carton, and an email notification sent to the customer with corresponding information. This captures also the detailed information needed for those clients with ASN requirements, or those that need to keep track of serial numbers or lot numbers. Furthermore, having all of this information on hand in your existing order placement and tracking systems gives your Customer Service team all the information it needs to respond to your customers as they inquire about their orders. Simply put, the Verbatim module allows you to verify – pack – ship, in one easy, streamlined process.
Check out what our clients are saying about the Verbatim module on our Testimonials Page.
Comments are closed.
