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Tips and tricks to scale your business from the experts in eCommerce

Why You Need To Switch Inventory Systems Right Now

Posted by Avery Walts on Mar 14, 2017
Find Avery Walts on LinkedIn

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We live in a world of instant gratification. If we can’t implement something right away and see immediate results, what’s the point? Business operation decisions are no different. Choosing an inventory system is at the bottom of the list if it means shutting down all operations and interrupting workflows to train employees, especially without guaranteed immediate results.

However, this is actually the worst way to think about how to set up an inventory system. Inventory management software will save you time and money without the need to stop all operations. Yes, you read that right. Keep reading this article to learn how inventory systems will save your business time and money in the future.

Inventory System Benefits

An inventory system is a computer-based, and sometimes cloud-based, system used to track inventory sales, orders, deliveries etc. An inventory system is overflowing with benefits that automatically track operations an Excel spreadsheet could never dream possible. If the system you’re currently using has outgrown its capabilities, the following benefits of inventory management software can help you out.

  • Tracking quantities - Every SKU you’re not tracking is money lost.
  • Picking times are faster - Quality control saves time from picking incorrect items.
  • Overbuying and under buying - Tracking quantities means tracking levels of orders, sales, deliveries, etc.

If your objections to inventory systems include any of the following, SkuVault will mitigate those with a high return on investment.

  • Inventory systems are too expensive
  • Inventory systems take too long to implement
  • Inventory systems are not meant for my small business

We’ll list more benefits and explanations to objections throughout the article, but consider those the starting points. And if you’re still thinking, there’s simply not a good time of year to implement a new system, you’re wrong again. Consider implementing an inventory system after peak season when things have calmed down and you have a clean slate for the year ahead. Slower seasons are optimal for making new changes without being rushed.

 

[10 tips you need to know for better warehouse inventory management]

 

How Inventory Systems Save Time and Money

Before we get into the specifics of what is included in the SkuVault onboarding process, let’s go deeper into the benefits of inventory systems.

Tracking Quantities 

Objection: I won’t get a good ROI.

An automated system of tracking quantities means that everything that can be tracked (all your SKUs) will be tracked in order to save the loss of time and money. If you’re not using a system of tracking you’re losing money, period. Inventory systems automatically alert users when sales and orders occur to send quantity updates. Again, this helps with loss in revenue and unnecessary extra spending due to oversells.

Faster Picking Times 

Objection: Inventory systems are too expensive.

Quality control will become your best friend. In SkuVault, quality control cross checks the original order to a picked item for accuracy before shipment. When you can rest assured that items are sorted, picked, and shipped accurately, the rest of your warehouse operations will run quickly. You also save a ton of money from overbuying and under buying items that otherwise wouldn’t be double checked in quality control.

Dedicated Implementation Process

Objection: Inventory systems take too long to implement. I want something NOW!

Yes, inventory systems cannot be set up and implemented overnight. However, SkuVault can run and be implemented simultaneously while normal operations proceed. Users can learn how to set up the inventory system and implement it to go live whenever they’re ready. Business does not need to be shut down and you won’t lose any more money than you would without purchasing an inventory system.

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Scaling Your Business

Objection: My business is too small for an inventory system.

Although small businesses may not feel they need something as “advanced” as an inventory system, what they don’t realize is that inventory systems can scale with your business. The bigger a company gets, the more they need accurate tracking, and the larger the number of SKUs increases, the harder it gets to implement a tracking system. Start out when you’re small to avoid a larger headache and lost profits down the line.

 

How to Set Up an Inventory System

It’s best to go into the onboarding process knowing it’s not going to be quick, but it’s going to be worth it. At SkuVault, the onboarding process to adopt an inventory system is handheld. Training team members do a complete walkthrough of everything so users are ready when it comes time to  implement the system. This is the time for users to ask all questions while a training team member discusses best practices overall.

Here’s a few things potential users can expect from an onboarding call with a training member:

  • The amount of effort needed to implement a business’s information depends on the complication of the business. This means, for example, if a seller only sells on Amazon, the onboarding process will not be as complex.
  • A full explanation of how everything works, even functions users may not have known is possible.
  • Customers should only have one lead person in charge of implementing the system. This person should have access to all information in order to put everything together during implementation. One person makes the process much smoother, rather than having multiple people learning the new system at once.

Different price levels receive different degrees of support and training sessions. However, no matter the price level, training team members still provide a complete walkthrough in the implementation process for all plans.

  • Basic inventory accounts receive three training sessions over four weeks with a training team member.
  • Managed accounts receive 12 training sessions over 12 weeks with a training team member and onboarding specialist.
  • Silver (pro) accounts receive 24 training sessions over 14 weeks with a training team member, onboarding specialist, and dedicated trainer.

Conclusion 

If you’re a small seller that’s quickly expanding, don’t let the price of an inventory system scare you. Throw out the Excel spreadsheets and scale your business before you lose too much money. Inventory systems save time and money automatically. You don’t have to even think about it. What could be better than that?

 

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Topics: Inventory management, Inventory Tips and Tricks