Inventory management is one of the most common aspects for any retailer, but all small to medium sized businesses (SMBs); even those without a retail outlet require some sort of inventory even if it is limited in scope to the internal workings and supplies to run the business. With that come its own set of challenges and problems. This one aspect, inventory management, has a direct bearing on any business’s profitability. In fact many SMBs spend too much time in managing the inventory. This time can be used in other areas of business like growing and expanding the business and sales. For this reason, the ePMX: Inventory Management Software has become the lifeline of SMBs for higher growth and profitability.
ePMX: Inventory Management Software helps in increasing the efficiency of SMBs: A highly effective inventory management software solution is much more than merely controlling the inventory. SMBs can also enjoy benefits such as intelligent ordering systems, which help in optimizing the inventory levels and make sure that the right materials are ordered at the right time. Obviously this has a domino effect bringing help in material management, time management, and cash flow.
Incorporating the Inventory Management module means that much time is saved in administration work and SMBs can have their staff working on more productive tasks such as increasing sales and customer experience. When time is better managed and key personnel are redirected to more productive tasks that means higher profitability. By improving the staff’s efficiency, the overheads can be significantly reduced while increasing sales.
ePMX: Inventory Management Software and higher business profitability: ePMX: Inventory Software not only helps in updating a database in real-time but also generates reports that are of supreme value to ensure optimum inventory levels. The database helps in making the owners aware of what is available at any time in the stock. Using the past data, this software enhances the process of making ordering recommendations to ensure that your business has adequate materials and products at the right time. This is of even greater value if your business has multiple locations and stock levels and recommendations can be monitored among all your locations.
SMBs can ensure better turnover levels with the help of ePMX: Inventory Management Software instead of having their money tied up in slow moving inventory resulting in a shortage of faster moving goods. By limiting their slow moving inventory and investing in products that fly off the shelves or supplies that are frequently used, profitability increases greatly because a high turnover means lower overheads per unit produced. This obviously means a better return on inventory.
As you can see, the ePMX: inventory software works wonders for SMBs and makes recommendations based on historical use and performance instead of having a blanket solution that is hardly effective. Inventory will vary according to the location, type of business, and even from store to store in the same city, which makes the inventory levels different for different places. With ePMX: Inventory Management Software, problems will be minimized, challenges will be overcome, and profitability will increase.
