Whether you are running a small, medium or large enterprise, your aim should be to increase productivity within the company.
And one of the tried and tested ways of increasing productivity is by inventory management that can dramatically speed up various processes within your business.
Think for example of a shop that sells various perishable goods. Without inventory management, the owner would have to manually control when produce are reaching its sell by dates. This would entail drawing up a list of all produce as it arrives in the shop. This would have to be typed in on a computer, with dates of when it expires. But the owner would then also have to scroll through these lists on a daily basis to ensure that old produce is accurately identified and removed from the shelf before a customer buys it. This could become extremely time consuming.
If the owner invests in a software program, he could have a tailor made list of all produce sold in his shop. As produce arrive, he could simply type in the date of arrival, and the expiry date. Depending on the solution that he chooses, the program could provide daily alerts of which produce will be reaching at their expiry dates soon. This could easily save the owner half a day’s work daily, and without the solution the owner might have to employ an addition staff member to do the job.
While it might not make such a big difference to employ one extra staff member, the odds change as the company grows bigger. A large retailer with chain stores like the company Toad Diaries, all over the country can considerably save by not having to employ extra staff at each and every store. Therefore inventory management have become invaluable in the management of every company – large or small.