Improving Inventory Management with Automated Inventory Alerts
Effective inventory management control can often be the difference between being able to fulfil an order or not. For the majority of businesses, inventory is a major asset, but if inventory is mismanaged it can create endless problems such as inconsistent high or low stock levels, miscommunication between warehouses and delays in fulfilment.
It’s important to protect your business from poor inventory management. Unfortunately, many wholesalers rely on employees to manually monitor and react to changes in inventory. This approach exposes a business to errors and increases risk that can impact its reputation. Isn’t it about time you received the information you need when you need it?
Inventory Management Control: What is happening to your inventory levels right now?
Business applications hold a wealth of critical information, yet the majority of wholesale businesses still rely on employees to manually monitor and react to data changes. Alongside tracking inventory levels, order fulfilment, managing receivables and managing inventory across multiple warehouses, branches and in some instances continents means that the manual approach to inventory management control is prone to errors and is an inefficient use of employee time. Why waste time and money manually monitoring critical stock data when you can make it come to you?
Constantly monitoring and reporting on stock data changes can be a difficult if not impossible task for employees. By dynamically monitoring your business systems and applications for key data changes you remove the reliance placed on employees. Automated inventory alerts (to your exact business rules) can be created and sent via email and SMS to internal and external recipients when required. Common email or SMS inventory alerts and notifications created by wholesale professionals include:
- Negative allocations
- Adjustments over “x”
- Shelf life/expiry dates
- Products with no web category
- Slow moving stock
- Large order placed
- Goods in today
- Goods received awaiting parts
- Inventory reorder point
Automatically attaching inventory reports
The importance of stock control and peace of mind in knowing that stock data will be sent to you and your colleagues via email or SMS notifications can be reassuring. However, the devil is always in the detail. Being notified of a potential situation frequently results in further questions and requests for data being made.
Inventory report and document automation through business process automation software can address this problem by dynamically attaching Sage Reports, Crystal Reports or SSRS Reports to the notification. Documents can then be sent to relevant departments with accurate, real-time data. This is particularly useful to inform a sales team of up-to-date product line information.
Triggering more sophisticated inventory management control processes
Receiving a stock control notification can often represent the start of a more complex process. For example, a notification informing the recipient that a large order is about to deplete stock levels below an agreed threshold can trigger a manual, time-consuming and error prone procurement process flow.
Automating this next step within a given process, such as creating a supplier purchase order workflow for approval, enforces best practice and reduces manual administration tasks.
The benefits of inventory alerts
Enhancing inventory management control by monitoring and reporting on stock data changes can help to enforce company rules and procedures so that stock levels are optimised to the businesses best practices. Companies that automate inventory alerts commonly see the following commercial benefits:
- Reduced stock waste
- Optimised inventory levels
- Improved cross department visibility of stock data
- Enforced best practices
How do you create automated inventory alerts?
Automated inventory management notifications can be achieved by implementing Codeless Platforms’ Business Process Automation Platform. The Platform provides monitoring capabilities that ensures employees, suppliers and customers are provided with real-time inventory updates. This can be achieved by providing you with:
- An easy to use drag and drop graphical user interface (GUI) to synchronise data
- Flexible system integration, removing the need for complex programming
- Limitless automated business processes and business notifications
For more information on how to improve inventory management control through automated notifications download the inventory management alerts brochure below or call us on +44 (0)330 998 8700