Smart Inventory Management System Lets You Stay On Top Of Your
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For your product to travel from manufacturing plant to the consumer-end, it needs to change hands multiple times. This may involve multiple suppliers, distributors, field sales personnel and retailers.

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Smart inventory management system lets you stay on top of your business here s how 7447678

Smart Inventory Management System Lets You Stay On Top Of Your

Business. Here’s How?

For your product to travel from manufacturing plant to the consumer-end, it needs to change

hands multiple times. This may involve multiple suppliers, distributors, field sales personnel

and retailers.

If you combine all these diverse challenges, you can see that inventory distribution is an

intricate challenge that comes with many incorporated difficulties. You need to navigate and

manage this steep challenge to manage your distribution network.

A smart inventory management system enables you to incorporate, understand and manage

the diverse challenges.

Why inventory management is Critical?

If you walk-into any grocery store, you would be amazed by a list of products labelled with

discounts varying from 40% – 65%. While there could numerous reasons to explain the

excess of stock, the inefficient stock management is almost always a permanent fixture of this

problem.

Without an inventory management system, you could have your valuable goods getting

distributed unevenly across multiple retail points. Or worse, this distribution may not

resemble the actual demand of products across the various retail stores.

This almost happens to be a permanent fixture of not having an accounting system to manage

the inventory.

Inventory management can also help you regulate transit costs and get the best product

margins. It ensures that you are constantly getting the highest pricing for your product.


Smart inventory management system lets you stay on top of your business here s how 7447678

Tight Integration of Supply and Demand Network

If you look into successful companies, you can see a tight integration between the supply

and actual demand in the marketplace. This means that your production or stock

acquisition is geared to meet the predicted product demands.

If you fail to achieve this tight integration, you are most likely to end up producing excessive

or insufficient goods. In either case, your supplied goods may become inadequate to meet the

actual market demand.

In-short, you need to have information about the ongoing trends and sales updates of goods at

each touch point.

A unified inventory management system lets you update stock information easily on each

touch point. Afterwards, all these data could be streamlined to a single dashboard.

This makes sure that your entire customer portfolio information is always available.

The constant monitoring also delivers you the flexibility to easily adapt to fluctuating market

conditions.

Stay on top of the Game with right Distributors KPI

As mentioned earlier, you need to always keep a pulse on the stock flow information to make

smart decisions.

This information is procured by following the right KPIs for your inventory.

For a beginner, the distributors should have access to the influx and supply of the following

goods.

For an FMCG company, the useful KPIs could be


Smart inventory management system lets you stay on top of your business here s how 7447678

1. Current stock availability

2. Sales done during the day

3. Revenue acquired during the day

4. Dates of different products

If you are following these metrics, the distributor may avoid losing track of the information

concerning stock supply and demand in a particular geography.

You can also collect available information about each part of your entire sales cycle.

This allows you to potentially oversee and predict any surplus or crunch issues.

In case your distribution remains complex, there should also be a reasonable way to re-

evaluate the efficiency of your distribution.

Forecast and Manage Stock Demands

The inventory turnover is the most useful metric of evaluation when you want to have a

single overview of your inventory distribution network.

This allows you to instantly glean information about the stock demand and inventory

availability. This data allows you to either accelerate or slow down your inventory flow. You

can also streamline multiple parts along the process chain such as inventory acquisition, raw

material procurement, manpower hiring, etc.

You can also evaluate your marketing challenges based on this market demand.


Smart inventory management system lets you stay on top of your business here s how 7447678

If you have a high inventory turnover, this means that you have a healthy market demand. It

also means that you have the ability to periodically sell-out your older stock that permits you

to focus on procuring the latest stocks.

to focus on procuring the latest stocks.

to focus on procuring the latest stocks.

If you have a high inventory turnover, this means that you have a healthy market demand. It

also means that you have the ability to periodically sell-out your older stock that permits you

also means that you have the ability to periodically sell-out your older stock that permits you

If you have a high inventory turnover, this means that you have a healthy market demand. It

A fragmented inventory management means that you could be pushing goods without the

backing of the actual market demand. This will easily lead to your products getting

overstocked or under evaluated.

overstocked or under evaluated.

overstocked or under evaluated.

A fragmented inventory management means that you could be pushing goods without the

backing of the actual market demand. This will easily lead to your products getting

backing of the actual market demand. This will easily lead to your products getting

A fragmented inventory management means that you could be pushing goods without the

Agility of Inventory Distribution

Agility of Inventory Distribution

Agility of Inventory Distribution

If you have an agile inventory network, it will transpire to all the other aspects of your

business. It may even be the most critical factor, second only to actual product quality.

business. It may even be the most critical factor, second only to actual product quality.

business. It may even be the most critical factor, second only to actual product quality.

If you have an agile inventory network, it will transpire to all the other aspects of your

If you have an agile inventory network, it will transpire to all the other aspects of your

This will also help you have better relationships with your retailers and distributors.

This will also help you have better relationships with your retailers and distributors.

This will also help you have better relationships with your retailers and distributors.

In the end, this may cumulate into a large market advantage over your competitor.

In the end, this may cumulate into a large market advantage over your competitor.

In the end, this may cumulate into a large market advantage over your competitor.

Conclusion:-

Conclusion:-

Conclusion:-

In the current marketplace, there are numerous factors that could present you with a

competitor edge or vice versa.

competitor edge or vice versa.

competitor edge or vice versa.

In the current marketplace, there are numerous factors that could present you with a

In the current marketplace, there are numerous factors that could present you with a

This includes product pricing, brand value, packaging, etc.

This includes product pricing, brand value, packaging, etc.

This includes product pricing, brand value, packaging, etc.

Among these different factors, you can see that optimizing your inventory distribution could

be the easiest way to improve your distribution process.

be the easiest way to improve your distribution process.

be the easiest way to improve your distribution process.

Among these different factors, you can see that optimizing your inventory distribution could

Among these different factors, you can see that optimizing your inventory distribution could

For maximizing your distribution proficiency, you would actually need an efficient inventory

management system.

management system.

management system.

For maximizing your distribution proficiency, you would actually need an efficient inventory

For maximizing your distribution proficiency, you would actually need an efficient inventory

Learn more about utilizing your inventory management system with us @ +91-7899887755

or [email protected]

or [email protected]

or [email protected]

Learn more about utilizing your inventory management system with us @ +91-7899887755

Learn more about utilizing your inventory management system with us @ +91-7899887755


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