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That ties up money and storage space you’d otherwise have at your disposal.
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This means you’ll need to always carry at least a small amount of extra inventory to cover your projected sales, or your projected production if you’re a restaurant or manufacturer. If you use a periodic inventory system, your book inventory count will usually be outdated by the time your accountant finishes updating the data. By reducing opportunities for errors in your counting, shipping and receiving processes, computerized inventory systems can help bring that number down. According to figures from a 2017 National Retail Federation survey, they account for a combined total of more than 26 percent of shrinkage, which can add up to real money. Your own in-house administrative errors and vendor fraud are significant factors too. There are a number of potential reasons for that, with shoplifting and employee theft leading the list. Reduced ShrinkĮvery time you count your inventory, you’ll find that some of what you’re supposed to have just isn’t there. You’ll still need to train your staff to double-check the contents of each box against the order or invoice, but you’re still eliminating one or more data entry steps in which errors can occur. In retail, of course, your cashiers do the same thing as they swipe or scan each item sold. In much the same way, when you send out an order to your customers, you can scan each item out of inventory. You can simply scan the product into inventory as it’s received, and it will show in your on-hand inventory. Better Receiving and ShippingĬomputerized inventory systems make shipping and receiving orders simpler as well, and leave less room for error.
HOW A COMPUTERIZED MAINTENANCE MANAGEMENT SYSTEM SOFTWARE
It also means you won’t have to transfer those numbers manually to your accounting software or inventory database, which eliminates another possible source of errors and several hours of data entry time. Scanning bar codes or QR codes is faster and easier than writing down stock numbers manually or flipping through pages of inventory sheets, looking for the correct item. One of the greatest advantages of a computerized inventory system is that it makes for faster, more accurate counting. Quick, Accurate CountingĮven if you use a perpetual inventory system, you’ll need to do a physical count occasionally to make sure your inventory records are accurate.
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That’s where the benefits of computerization show up most clearly. This type of system keeps track of your sales and orders in real time, updating your inventory count with every transaction. Businesses with larger inventories to manage and higher turnover of product, generally favor what’s called a perpetual inventory system. This method benefits from computerization in a number of ways, although if your business is small enough, you can keep it entirely “old school” by using pens and paper. One is by physically counting it periodically at regular intervals, and then reconciling your actual inventory with the figures shown on your books after you’ve accounted for incoming orders and outgoing sales. Perpetual Inventory Systemsīroadly speaking, there are two ways to manage your inventory. You can use the computer just to speed record keeping or go to a full-blown, real-time inventory system, depending on your needs, but either way, you’ll benefit from having it computerized. One way to do that is by computerizing your inventory system. Since you’ve likely got computers in your business anyway, it makes sense to maximize the value you get from them. It’s still possible to operate a business without a computer, but it would have to be a very small business and you’d definitely be doing things the hard way. In Computerized Maintenance Management Systems, Industry News, Inventory /Warehouse Management Systems, News