If you don’t know how to answer that question, you may want to take a look at your customers. According to a recent survey by the Institute of Customer Service (based in the UK), many companies are not doing as great of a job as they think they are doing. In fact, one in five customers has tried to buy an out-of-stock item within the past month, and more than one-third of survey participants had an out-of-stock experience in the last six months. Half of the survey respondents said an out-of-stock experience is “the most frustrating shopping experience”, and 39% said that it made them wonder if the store valued them as a customer. A quarter of survey respondents went on to say that they found an item out-of-stock even after checking first to see if it was available!
Out-of-stock and inventory availability mix-ups can be detrimental to your business. The market is highly competitive and – more times than not – your customers can go somewhere else to get the same (or at least similar) product. If you are not actively managing your inventory, you are doing a disservice not only to your customers but also to your business.
New technology supports inventory management
In order to effectively manage your company’s inventory levels, you need to invest in an inventory management solution. An inventory management solution, such as Scanco’s newest product – Scanco Counts, can streamline your daily operations and offer you the visibility you need from the warehouse floor to your customer’s door. An inventory management solution will help you gain a better idea of the items you have on-hand and the items you need to restock in order to effectively meet customer demand.
Scanco Counts, our newest Sage 100 mobile (formerly MAS 90 mobile and MAS 200 mobile) application, allows you to automate your cycle counting and year end physical count from any iOS or Android device. It also seamlessly integrates with Sage 100 ERP, eliminating the need for paper counting and data entry. The countless hardware accessory options allow users to scan barcodes, look up items, and send counts in real-time to Sage 100 ERP (formerly MAS 90 ERP and MAS 200 ERP).
In addition to providing you with real-time information regarding your inventory and stock levels, Scanco Counts ensures that your inventory levels are accurate from the beginning. It eliminates the most common problems faced during the inventory counting process, such as long count times, closing operations for a year-end count, and endless data entry, so you can focus on getting the right numbers into your ERP system. The Sage 100 mobile (MAS 90 mobile / MAS 200 mobile) application has built-in validation using Sage 100 ERP and gives users a painless review process by listing all of the items they have counted.
The Sage 100 mobile application provides users with a real-time view of inventory levels so you can give your customers an accurate depiction of what’s in stock. Don’t lose your customers to the competition. Invest in an inventory management solution such as Scanco Counts today! Contact us for more details about our newest mobile application for iOS and Android users.
As we stated above, recent research has shown inventory management to be crucial for today’s businesses. Without it, you could end up losing valuable customers and business. How have you seen this play out in your company? Have you lost customers due to out-of-stock issues or inaccurate inventory readings? Have you implemented an inventory management system (or mobile application) to assist you with your inventory management goals? Share your experience in the comment section below. We’d love to hear how you are managing your inventory!