BUYERS GUIDE TO INVENTORY MANAGEMENT SOFTWARE

MAKING MONEYThe financial considerations.

WHAT THE GEEK? Technology considerations that work for you.

KEEPING THE CUSTOMER SATISFIED Strategic & operational considerations.

This guide breaks down what to look for when selecting the right inventory management software for your business.

(Choosing the best software for your business can be a daunting task)

MAKING MONEYThe financial considerations.

Inventory management is about managing stock as it moves through your business. It ties up vital working capital. The smarter you are the more you can:

KEEP COSTS IN CHECK & GET MORE EFFICIENT

Your stock ties up valuable cash. Ensuring it’s managed e�ectively through the right software can help control your spending and hone in on what’s working.

AVERAGE REDUCTION IN COSTS.6%

The right inventory software can improve your revenue. Calculating the average landed cost incorporates the true cost of obtaining stock so you can have confidence in your margins. Active inventory management can lead to between a

KNOWYOURMARGINS

IMPROVE YOURBALANCE SHEET

2-10%INCREASE IN REVENUE.

TRACK

TRACE

ACCOUNT

Providing reliable service to your clients and having the right stock available will help to keep them loyal so you don’t miss a sale. Look for features such as a high and low stock alert that will help you to manage this.

WHAT THE GEEK?

Technology considerations.

IT’S ALL IN THE CLOUD!Premise based systems are rapidly becoming obsolete. The benefits of cloud-based systems outweigh the downsides. Consider the following:

INTEGRATION AND CONNECTION TO IMPROVEWORKFLOW

ACCOUNT FOR IT ALLDouble handling makes for errors - the fewer, the better. Integration with your accounting system plays a critical part improving…

Capital CostsCloud-based software frees up capital, since you don’t need to purchase licenses and hardware.

Hardware MaintenanceCoupled with not having to buy server hardware, there is no need with the cloud, to maintain those servers. Or have to expand their processing power as you grow.

MobilityWherever you or your team happen to be – can they access accurate up-to-the minute data, on any device, at di�erent locations.

Other factors to consider might be the cost of upgrades and support, all in all though, make sure you understand your true total cost of ownership, as part of your evaluation.

From your suppliers to you. Getting stock on time is key to realising e�ciency. Planning around lead times can help you to maintain the right levels of your stock. Streamlining the order process should be something to look at carefully.

From you to your customers.Making it simple to put your goods in the hands of your customers, relies on integration to e-commerce, courier track and trace systems and much more - think about those touch points that you can make it all the more simple for customers get your goods.

With internal systems and your people. Your internal systems need to easily integrate so you can increase productivity, reduce double ups, and track missing pieces. Ensure that the system you choose has good documentation, tutorials, training and support. The system needs to be user friendly so people can quickly come to grips with how stock flows.

Accuracy.Single source data reduces the potential for errors. Having a seam-less integration between your accounting and inventory solution ups e�ciency and accuracy.

Timeliness.In the ever-changing business environment, quick decisions are crucial. Look for a system that keeps your finger on the pulse.

And pre-integrated.Life is too short to handle custom integration - you want something that works immediately and easily when it comes to your accounting system.

IT systems keep track of goods, so making sure you have one that is simple, e�ective and plays well with other systems, means your business will run more smoothly.

KEEPING THE CUSTOMER SATISFIED Strategic & operational considerations.

PLAN FOR GROWTH. Choosing a solution that will suit your needs not just today, but into the future as your business grows and becomes more sophisticated can help save a headache down the road. You might not need it just now, but tomorrow could be a di�erent story. Make a checklist of possible things you might want to do as the business grows. Things like multi currency, multi-locations, and consignment stock management could matter tomorrow.

MAKING YOUR LIFE EASIER. Above all inventory management should make your business run better, go where you go to keep you in touch with what matters. The key in all of this is to make sure it all helps your customer get what they need, when they need it, where they need it. This translates to having systems that make it easier for your people to do their job, so they can focus on providing customer service. Keep this in mind as you evaluate your options.

unleashedsoftware.com

MAINTAIN YOUR EDGE. Maybe your business isn't set to grow like Google, however keeping pace with the competition means keeping up with the technology.

POWERFUL INVENTORY MANAGEMENTAccurately manage your inventory online in real-time with Unleashed.

Happy customers mean more business and your growth depends on them. Making sure you have future growth in mind as you select a system means thinking about what customers want today, and tomorrow.