Recently inventory management has become an essential part of business systems for survival. Once you lose control of your stock product(การทําสต๊อกสินค้าแบบง่ายๆ, which is the term in Thai), you may slip off from your profits.
As per a survey, 81 percent of consumers have undergone an “out-of-stock” situation. It may lead to lost sales for retailers and a bad reputation for the shoppers.
If you are still supervising your stock product on a spreadsheet, your business might suffer, and it is an excellent time to update your inventory management system. Know more about the importance of stock product management.
Advantages of Stock Product Management
1. Tracking Inventory
Handy stock management will help you by calculating the exact requirement of the inventory the owner must have on hand at any period. This system helps to prevent stock shortages and maintain a balanced stock without having extra stock in the warehouse.
2. Helps In Saving Money And Time
Stock product management can keep the reports about your stocks and helps you to understand which products are in stock and in order. You can save time and effort by checking your stock records are exact. A sound inventory management system will support you save money that might get wasted on slow-moving items.
3. Improves Product Delivery
Late delivery due to a shortage of stock product(สต๊อกสินค้า, term in Thai) can give a lousy impression on the business. To track the product, you should know the shipping date and time or the delivery time. It will give you clear information about your stock and helps to manage customer expectations by informing them timely.
4. Maintain Organised Warehouse
Adopting a sound stock management system is necessary to organize your warehouse well. Managing an unorganized warehouse can consume a lot of time. Nowadays, big companies are optimizing their warehouse to access their stocks easily and fast. It helps to speed up the delivery of the product and make the customers happy.
5. Improves Customer Satisfaction
Well-organized stock management helps to bring more customers. Fulfilling customer demand on time and efficiently can make them happy. Good stock management will offer you tools to have balance stock products to meet the product demand as soon as necessary.
Stock product management is a necessary tool to improve your business. It will help you in various ways to earn a profit and make your customer happy.