| The successful and efficient management of | | | | All of this information must be organized and |
| Inventory is an essential enabler of the consistent | | | | delivered in real time to keep up with the pace of |
| and profitable growth of a company. For | | | | today's markets. Employees and managers must be |
| manufacturing companies, the volume of data can be | | | | able to make quick decisions based on reliable |
| overwhelming. Managers must be able to collect and | | | | information. They must know the status of a |
| evaluate data from suppliers, shipping companies, and | | | | products' stock on hand, or the expected delivery |
| distribution centers, as well as the information within | | | | dates for components for the system to operate |
| their own organization relative to the manufacturing | | | | smoothly. The growth of a business depends on the |
| process. Even smaller retail stores, brick and mortar | | | | company's ability to cope with ever increasing |
| or e-commerce, must have the ability to accurately | | | | amounts of data generated at an ever increasing |
| predict stock levels, delivery shipments and lead | | | | rate. |
| times in this world of high customer expectations. | | | | Properly trained employees and managers, equipped |
| Success and growth depends upon the ability to | | | | with an inventory management system, will have the |
| deliver products to your as quickly and efficiently as | | | | benefit of promptly collected, organized information |
| possible. | | | | at their disposal. They will no longer have to make |
| There are many types of information that must be | | | | decisions based on dated or inaccurate information. |
| collected and processed. Product data including | | | | Many tasks previously done by hand can be |
| Description, SKU number, supplier and manufacturer | | | | automated leaving the employees and managers free |
| are needed. Component shipping weight and | | | | to concentrate on customer satisfaction and growth. |
| dimensions, lead time, cost and stock on hand | | | | With an Inventory Management System in place, a |
| information is needed from the supplier. The shipping | | | | company will become more efficient and profitable. It |
| company must provide cost, shipping time, and | | | | will provide employees with timely information |
| tracking numbers. On top of that you need to track | | | | designed to make their processes run more smoothly |
| information relative to your manufacturing process | | | | and to help them cope with the ever increasing |
| including all of the work in process details. All of this | | | | demands put on them by a growing company. A |
| information then needs to feed the other systems in | | | | proper Inventory Management System will lay the |
| your company like the accounting and point of sales | | | | foundation for a company's profitable and sustained |
| systems. | | | | growth. |