Top 8 Myths about Inventory Management System
- Inventory management is not an important issue. If managing the stock inventory is less important than anything else in your organization then you might be in deep trouble. Inventory management is an essential for any businesses to success
- Inventory management software is too difficult for me to master. This is an incorrect statement! You can manage your inventory easily if you have the right inventory software and know how to use them.
- I’ve been managing my inventory correctly. Not necessarily correct. Even though you have been getting it right since beginning, it doesn’t mean you can’t make any further improvements into it. Inventory software has come a long way since the past few years. You will be surprised how much cost you could save by getting the correct inventory software and how it can help you can solve the production inefficiencies.
- Inventory software is too expensive. Yes, many small businesses might not be able to afford all the expensive inventory software that big and large companies are using. However, eStockCard Inventory software offers most of the functions which are available in most high end management software for only a fraction of the cost.
- I have frequent perform inventory checking for stock accuracy. If you are using an reliable inventory software, then you wouldn’t need to perform the expensive, time consuming and frequent inventory checks. By using barcodes, scanners and other necessary tools, you can almost get an accurate inventory count in your store or warehouse.
- Only inventory consultants can track inventory and make orders. With a proper barcode scanners and inventory software, almost anyone can receive and retrieve orders. All it need is just a little training and discipline.
- I should keep as much inventory stock as possible. This is a good idea to have sufficient inventories on hand to meet your customers demand but it is a very risky to have too much due to the limited amount of money and resources that any company are allow to spend. Further to that, too much inventory adds to the risk of spoilage and obsolescence, as well. This is where a proper Inventory software will comes in handy.
- I should keep as few inventory as possible on hand to save money. Have you faced with a scenario whereby you intend to purchase something at a store, but they’ve just run out of it? What are you likely to do as a customer? They will highly go to another store to buy it. Therefore as a business owner you could lose sales and also drive your customers away if you constantly under-stock your inventory. Therefore with the Inventory management software, it can help you find a balance medium between too much and too little inventory.