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Symptom: As a small business, managing inventory by manually counting and recording inventory data can be cumbersome, but adequate. As the business becomes more successful, this process is not only time consuming, but can lead to errors and lost inventory. A common headache shared is that sales is out on the road all day selling items that end up not being in stock. Or businesses that are not able to figure out how soon they will be out of stock and either over-ordering (leading to reduced cash flow) or not ordering enough (and thus – not meeting customer demands).
Solution: With an integrated ERP system, companies can create automated processes for their inventory counting. This decreases the amount of time and energy employees spend on inventory management and ensures that the company has real-time data they can use to effectively track their inventory. Employees can spend less time on operational tasks and more time on delivering excellent customer service.
Stay tuned for Part 3 to learn how to improve your company's cash flow projections and read our previous article to prevent your company from losing key customers to competitors. For real life examples of how the right technology has helped Vision33 customers overcome the symptoms of their growing pains access the Vision33 Beginner's Guide to ERP.
For fast-growing businesses, the time to shift from small business accounting software (e.g. QuickBooks) to an ERP platform may already be upon you. But how do you know for sure and where do you begin sorting through your options?
These are challenging and often complicated questions to answer, and in most cases, the available resources online don’t clarify anything. For that reason, we consolidated all our early stage ERP resources in one place.
