14 Mar Manage your inventory to increase your sales!!
Every company, whatever its activity (logistics company, IT services, etc…), must ensure good inventory management, as well as efficient stock rotation and supply management to be efficient and avoid overstocking. Before we talk about inventory management, we must first define the inventory. In Vareya, inventories are made up of:
- Manufactured or in process
- Intended for sale
- Defective, for repair
- Elements of goods
- .Raw materials
Good inventory makes it possible to know at any time the quantity of merchandise available and put up for sale. Inventory management is important from different points of view. Meeting demand Inventory management is the set of procedures applied by a company to determine:
- When to stock up.
- How much to buy
Inventory management is essential to best meet customer demands. A stock must contain the items requested in the appropriate quantity. Inventory managers must therefore know:
- Market trends
- The demands
- The distributors.
- Delivery times.
Saving money In a business, having stock has a cost:
- Of acquisition.
Ensuring good inventory management amounts to:
- Avoiding stock shortages
- Minimizing storage costs
For many fulfillment centers or distribution companies, inventory management is closely linked to the success of the company. In today’s hyper-connected world, you also want to be able to track your inventory as it moves between suppliers, customers, production, shipment tracking and distribution to keep your data up to date.
Vareya inventory management is a best solution in Netherland for convenience store and gas station operators can enjoy several advantages over competitors who rely on manual or hybrid inventory tracking in Europe: Comprehensive control of your stock levels: Analyze your key stock figures to optimize stock levels and maintain sufficient stock to ensure on-time deliveries. Determine your product turnover rate and required stock coverage.
Make Informed Decisions: You have access to all the information you need to make decisions: What do you have in stock? How is the stock valued? What do you no longer need? Is there a risk of acceptance? Know what you have on hand: Accurately calculate current stock levels using the method of your choice, perpetual inventory, periodic inventory, or sampling. Integrated scanner:
Vareya guarantees that the quality of the materials and goods available is constantly updated. To this end, stocks are automatically adjusted when packing slips or production quantity reports are sent out. In any business, we must understand that taking care of our inventory is very important.
I we as managers don’t understand this concept, we must learn to be familiar with it and its applications.