We’ve already discussed the benefits of stock control systems to small businesses and manufacturers, but these systems can offer many advantages to other types of business as well, such as online ones. Having an online business does not mean that you don’t need a way to ensure the good management of your stock – on the contrary, it makes it just as essential.
After all, if you have a range of products that you export manually, growing your business can be challenging without a way to control supply and avoid shortages, for example. A stock control system helps you to keep track of your stock and streamline your business.
More Accurate Management
An online business can benefit from an increase in accuracy when it comes to software that manages stock and tracks barcodes. Manual stock management is open to human error, as it can be challenging to keep track of purchases and sales and current inventory – especially if you’re a small to medium sized company undergoing an expansion.
Just because a business is online, then, it doesn’t mean that it shouldn’t have automated stock monitoring and management. When everything can be tracked through the use of software (such as picking and barcodes), your job will be a lot easier!
Everything is Faster
Speed is of the essence when it comes to managing a business. If processes are slow, then you might risk missing a supply or being unable to process orders for days. Manual stock-taking, for instance, can take anything from many hours if you have a lot of employees to days if you have fewer – or if you handle a lot of stock.
Automated stock control systems make the input of information and the inventory-taking a much easier and speedier process. Labelling and barcoding are a must here, as using a handheld reader can quickly upload all the information to the system.
Streamlining sales, purchases and shipping processes can greatly help an online business keep on top of everything. Controlling and analysing these elements is a crucial component, especially if you’re shipping out products – an automated stock control system can help you to keep track of orders, goods received/returned, and available stock and resources, and ensure that you collect enough data gathering to be aware of the processes from top to bottom.
The system will only be as good as the information you put in, so make sure that you analyse your current stock to ensure accuracy and precision.
Selling and purchasing goods online, as well as managing inventory, are important elements of running a business, so you want to make sure that you have the right system. For instance, you can easily improve your stock control with Sage 50 and its add-on G-SMart Link 50. This new addition helps you to take full advantage of Sage 50 and still benefit from inventory management and barcode tracking without having to install a different enterprise solution.