IN AND OUT STOCK
The heart of any business lies in the ability to control stocks. An efficient tracking of in-and-out stocks will maintain profitability and overall customer satisfaction.
But, what if the heart of your business isn’t performing effectively? It could degrade the quality of your operations for several reasons, including:
What will come and go in your inventory is crucial when executing delivery or production to customers. When you are unaware of the time your materials will arrive, it is hard to proceed with further production.
Without the required goods, it could mean delays in shipment and, in the worst case, more dissatisfied customers.
A common practice that your purchasers would undergo is tracking the statuses of their orders. They will need to contact your customer service department which will then requests the warehouse manager to deliver such knowledge.
This is time-consuming for both parties and devastating to your reputation.
The inability to monitor in-and-out stocks makes it impossible to identify underperforming products. You are unable to distinguish effective sale lines from those that are not.
Thus, the performance of your sales is limited and you cannot optimize profits.