Why Implement an Inventory Management Strategy? 5 Reasons to Act Now!
Implementing an inventory management strategy is a great practice for any company looking to increase efficiency. If you are not keeping a watchful...
2 min read
Susan Faulkner Fri, Mar 29, 2013
As ERP consultants that have worked with hundreds of ERP software clients over the last 20 years, we see countless examples how an ERP system can help with your Inventory Management. Is Inventory management your weakest link? ERP systems have traditionally included tools for controlling your inventory and thus controlling the costs attributed to it. Did you know that the 80/20 rules also applies to your inventory? You will get the biggest return on investment by the control of only 20% in your inventory.
In order to have a top inventory management program you will need to have management’s commitment to the project as well as an understanding of best practices with easy-to-follow policies and procedures. We all know inventory is a liability and can tie up thousands of dollars of your cash flow. The most successful companies are those that make a commitment to manage inventory effectively and efficiently which only makes good sense. We hope you find these tips useful if you are looking for ways to get better control of your inventory with an Inventory Management strategy.
Most ERP users can improve their return on investment (ROI) with no further capital investment. Have you looked at an ERP system lately with good technical tools? You may find that scheduling demonstrations to review a few ERP systems are a good way to see what is on the market. CONTACT US and book one with us today http://www.blsolution.net
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