Why have stalwarts like Honeywell, Datalogic and Intermec focused so heavily on advancing enterprise mobility solutions for corporations? Why is it that some estimates put the ratio at 1 in 5 employees as being “mobile”, or connected? More importantly, why have so many companies decided to upgrade their supply chain practices with handheld, rugged mobile computers, barcode scanners and multiple mobile devices? In order to answer these questions, think of the speed at which business transactions happen today. Think of the importance of being able to keep pace with how quickly business landscapes change. Think of how your customers need suppliers who are able to react and ones that are not inhibited by manual processes that waste valuable time. Ultimately, think of why these aforementioned companies have invested so heavily in this market and then ask yourself, if the large players in industry are investing in mobility, shouldn’t I?
Archive for November 2011
As a small business owner, it is probably about time your enterprise update its approach to warehouse management, approaches that rely upon enterprise mobility solutions that not only increase your customer response times, but also help to lower the costs of data entry errors? One where manual inventory counting methods are done away with entirely, and ultimately one where reconciling monthly inventory costs, levels and stock counts aren not predicated on problematic excel spreadsheets and inaccurate graphs and tables? Most importantly, your customers certainly deserve a vendor who is on the ball, ready to provide the answers they so desperately need!
Does your company track the impact of lost sales on your inventory costs? Surprised to hear that lost sales is viewed by many companies as a cost of inventory? Do not be shocked! It is important to note that any cost resulting from how inventory is managed, can be seen as a cost of managing inventory. If a company loses a sale because of low inventory counts, or because of a lack of adequate inventory, then that lost sale is a direct cost of inventory. It is ultimately why some companies establish gross profit objectives for their procurement department. If the company loses a sale, then it could lose a customer and that can eventually lead to a loss of market share. So if losing a sale is a cost of inventory, what can companies do to reduce its impact? More importantly, what does it mean when a company encounters too many lost sales due to low inventory counts?
The business environment today is full of uncertainty. There is a constant threat of a double dip recession, the issue of business financing and the growing concern of a consumer base that is at best unsure, and at worst indifferent. This reality means businesses must have enough inventory to capture sales, but not so much that they lose money through high financing costs. So how does a company decide between too much and too little inventory? Well, some rely upon guesswork, others continually mull over sales forecasts and yet others try to manage inventory with an excel spreadsheet, which is neither live nor accurate. However, the right inventory management software can not only reconcile inventory, but it can link together the entire mobile business application of a company so that individuals in the field have as much information as those in the warehouse. So, how can the right inventory software empower your company to better manage its inventory? Read on!