________________________________________________________________________________________________________________________
Prepare for growth
Inventory management software scores big in cash flow stakes .
By Lissa Verhoog
One of the major challenges facing growing manufacturing businesses is how to manage an increasingly complex inventory . It is imperative to strike the right balance between meeting market demand and minimizing the amount of cash tied up in stock .
Some form of inventory control – usually through software – eliminates the inefficiencies and inaccuracies of paper-based systems , enabling far more accurate stock monitoring and demonstrably improved cash flow . Some software programs can link work orders to a bill of materials , which enables items to track and automatically re-order when customers need supplies , therefore saving time and boosting sales forecasts .
There are many benefits to contemporary inventory management software .
Its ability to optimize stock levels is what many regard as paramount among these benefits . By making sure that you have precisely the right materials your customers want – when they want them – helps to avoid overstock and being burdened with costly ‘ slow-moving and obsolete ’ inventory . The longer this unwanted and costly inventory remains in stock , the more it can jeopardize your business .
Moreover , by ordering only the materials your customers need at any given moment , you liberate cash that would otherwise be tied up and instead can use it to cover overheads or invest in other areas of your business .
Deploying fully integrated inventory
24