{"id":54031,"date":"2022-09-24T23:00:25","date_gmt":"2022-09-24T20:00:25","guid":{"rendered":"https:\/\/iconicerp.com\/?p=54031"},"modified":"2022-09-23T00:25:39","modified_gmt":"2022-09-22T21:25:39","slug":"automated-inventory-management-what-it-is-and-how-to-implement-it","status":"publish","type":"post","link":"https:\/\/iconicerp.com\/ar\/automated-inventory-management-what-it-is-and-how-to-implement-it\/","title":{"rendered":"Automated Inventory Management: What It Is and How to Implement It"},"content":{"rendered":"\n\n\n
An automated inventory management system is software capable of doing many repetitive inventory management tasks on its own with little human effort. Look at Automated Inventory Management.<\/p>\n

Automated inventory management systems\u00a0are used by retailers, wholesalers, distributors, and other businesses that have to track inventory. These systems were originally only for companies with budgets and inventory that warranted the help.<\/p>\n

However, inventory management systems have become much more accessible for SMBs. Now, even companies with a small amount of stock can find them useful. Despite this, 43% of SMBs don\u2019t track their inventory. Let\u2019s talk about why you need an automated inventory management system.<\/p>\n

What are the benefits of an automated inventory management system?<\/strong><\/h2>\n

There are many benefits to automating your inventory management. These benefits affect not only your inventory control team but your entire company. Automated inventory management helps your sales teams know what stock they have in-store, your marketing team sees what\u2019s selling well, and gives your C-suite easy access to important inventory data.<\/p>\n

1. Real-time inventory visibility<\/strong><\/h3>\n

Automated inventory management systems provide accurate real-time inventory counts of your stock.<\/p>\n

With manual inventory management, it\u2019s only possible to have an\u00a0estimation<\/em>\u00a0of how much stock you have on hand between counts. However, because automated systems are constantly updating and in contact with your POS software, they can keep a highly accurate count at all times.<\/p>\n

Because the count is always highly accurate, this visibility reduces the need for\u00a0physical counts. As such, manual stock counts should be performed mostly to check for loss, rather than to update your knowledge of how much stock you have on hand.<\/p>\n

An automated system also gives you real-time visibility into the location of all your inventory. You can see whether an item is in the warehouse or on a truck for delivery.<\/p>\n

2. Reduces human error<\/strong><\/h3>\n

Automated inventory management greatly reduces human error by removing the human element from everything except the actual handling of the items.<\/p>\n

This means there are no entry errors, et cetera. The software imports data from the systems that handle inventory to keep things up-to-date for you.<\/p>\n

3. Time savings<\/strong><\/h3>\n

Automating your inventory management saves a lot of time. Your inventory management team gets completely freed up from a life in spreadsheets. They can instead improve your other inventory systems or purchasing methods.<\/p>\n

Moreover, an automated inventory management system makes certain tasks and analytics possible that a human team would simply never have the time to get to, like deep reporting.<\/p>\n

What are the features of automated inventory management?<\/strong><\/h2>\n

The abilities of inventory management systems vary by software, as well as by plans. Yet there are some features you should expect to see in a given inventory management system.<\/p>\n

Stock reordering\u00a0<\/strong><\/h3>\n

The right solution will enable you to set thresholds of what you consider to be low stock for any or all of your items. Anytime that item\u2019s count reaches that threshold, the system will automatically place an order with your vendor for your preferred restock amount.<\/p>\n

Tasks you can automate with this feature:<\/strong><\/p>\n