Improve your inventory management and accuracy

Posted August 21, 2023

Technology has changed the way you manage your inventory and warehouse operations. And did you know you can integrate inventory tracking and warehouse management within Business Central?

By optimizing your inventory management system and tying it to your ERP system, your business and warehouse can realize these benefits:

Maximize your capital
If your business isn’t accurately tracking your inventory, it can lead to a situation where you buy more than is necessary. If you’re unable to identify how much you have in stock, your business could end up purchasing additional units and having more in stock than you need, tying up your working capital and impacting your cash flow. An integrated tracking system ensure you don’t have too much capital tied up in your inventory.

Reduce your shrink
Inventory shrink is the loss of inventory due to employee theft, shoplifting, errors due to counting, measuring and tracking, fraud, and physical damage. Your shrinkage is the difference between the inventory you have recorded on your balance sheet, and your actual inventory after these factors have been considered. Managing your inventory closely ensures you reduce the chance of discrepancies which ultimately helps you reduce your potential shrink.

Employees can be more efficient
Labour costs are often the largest expense associated with operating a warehouse or distribution center. If employees have inaccurate information about inventory, they can spend too much time trying to find items or troubleshoot issues. Inventory tracking helps your employees use their time efficiently.

Ensure customer satisfaction
When your system thinks that inventory is available for a customer order, when in fact it is sold out or missing, what results is a late or unfulfilled order and often times, an unhappy customer. A good inventory tracking system ensures your business can always meet your customer’s expectations and demands.

How can your business gain these competitive advantages?

Warehouse Insight is a third-party application for Business Central that Joesoftware has employed for clients looking to improve how they manage their warehouse and inventory. Warehouse Insight was developed by one of Joe’s partners, Insight Works, and it brings mobile device integration to your warehouse.

Working seamlessly with Business Central and any kind of warehouse set up, Warehouse Insight offers the following benefits, right at your fingertips:

• A consistent user interface as it automatically adapts to each Business Central location.
• Scan and enter inventory quantities with mobile scanners, simplifying your operations.
• If you need to track groups of items, such as skids, shipping containers, crates and more, Warehouse Insight allows you to assign License Plate Numbers (LPN) and print bar codes from a mobile device.
• Configure the Warehouse Insights software to your processes and needs without coding or customizations.
• RFID technology gives you improved accuracy, efficient and real-time visibility of inventory.

Ready to take your warehouse operations and inventory tracking efficiency to the next level? Joesoftware can help. We’d love to learn more about your operations and explore all of your options.