It has become practically impossible to manage a business without a computer. Gone are the days of manual tasks, and now is the time to automate everything you can. Post COVID-19 world is all about the use of groundbreaking technology and benefitting from it. While we mention the importance of using the latest technology, businesses need to keep track of everything present at the office. Everything needs to be recorded, and one of the most important things is the inventory record.
East Point suggested that businesses reap a 25% increase in productivity and a 30% improvement in stock use efficiency using an automated inventory tracking system. Logility states that 36% of supply chain professionals that use an automated inventory control system balances supply and demand.
No doubt that you need to use the latest technology to keep ahead of your competitors and to be a step ahead to meet your customer’s demands. How can you do that? You need to use a full-blown, real-time automated inventory system depending on your needs. You would not want to do the heavy lifting, but automated inventory systems do it for you. It is critical for a business to go and helps you streamline your various inventory operations. What are the advantages of using automated tool inventory control and tracking system? Let’s have a look.
7 Advantages of Using an Automated Inventory Tracking System
There are multiple benefits of an automated inventory system. How do they help your business? How can you choose the best inventory management system?
Here are a few benefits:
- Automation of Manual Tasks
- Accuracy with Automation
- Increased Efficiency and Productivity
- Early Problem Detection
- Real-time Insights and Tracking
- Reduced Overhead Costs
- Increased Customer Satisfaction
1. Automation of Manual Tasks
As a busy business owner, you should be able to look for inventory at a glance. It is only possible when you use automated inventory systems. An automated inventory system eliminates manual data entry and digitizes the data with a simple mobile phone scan.
Automated inventory tracking system apps are installed on your mobile phone, and you can easily scan everything that enters or leaves your warehouse. By automating the manual tasks, automated inventory management systems reduce lookups and human error, scanning data with precision.
2. Accuracy With Automation
It is a known fact that automation brings accuracy. The chances of human errors are minimized if you use an automated inventory control system. Control and precision are two things that are very important while running a business, and an efficient inventory system lets you do that.
Automation also reduces any potential loss of sales that could have occurred while using a manual inventory system. A one-time investment in an automated tool inventory control and tracking system can save you some bucks in the longer run.
3. Increased Efficiency and Productivity
Having a warehouse with inventory items means tying up your money. You can’t afford to lose your money. You would want an efficient way to manage your inventory items so that cash flows and no item is misplaced. An automated inventory system can help you increase efficiency and keep track of everything – if you use an efficient inventory management system.
An automated inventory system can save up to 95% of the time spent on manual data entry. You can utilize the saved-up time to carry out other tasks. If the automated inventory tracking system uses OCR, it will precisely capture every piece of information mentioned on the label.
4. Early Problem Detection
If you keep an eagle eye on your inventory levels, you will be able to spot problems instantly if you use an automated inventory tracking system instead of months later during annual cycle counts. If you use a manual inventory system, these discrepancies will appear during the annual cycle counts, which will cost you a lot of money.
If you need to know what went wrong, you can instantly point it out using an automated system. Inventory is best maintained if you use a tightly maintained inventory management system.
5. Real-Time Insights and Tracking
One of the major benefits of an automated inventory system is real-time insights and tracking. Tracking is a major factor when it comes to inventory tracking. Without tracking, there are chances to lose the inventory items, and without a chain of custody, you won’t be able to retrieve them. An automated system records everything that enters or leaves your warehouse, providing a complete chain of custody.
It also provides real-time insights, and you can have access to your inventory items from anywhere, anytime. You can also utilize the management information through real-time insights to schedule staff at your warehouse during peak and downtime.
6. Reduced Overhead Costs
It is very important to keep track of costs while running a business. How can you minimize the overhead costs? The answer is simple, by using an automated inventory tracking system. An automated system reduces the chances of losing any item. With complete traceability, inventory reports quickly identify the slow-moving products. You can mark them down and make a decision that might be able to save you some cost.
Since a smart inventory system provides data-driven insights, you can use these insights to create a strategy to save up some cash.
7. Increased Customer Satisfaction
AP News suggests that 30% of supply chain professionals highlighted the need to respond to customer mandates with accuracy, precision, and unique fulfillment as any top business priority. You can only achieve that with an efficient management system. With an automated inventory system. Happy customers are the backbone of your business.
An automated system can help you identify incorrect shipments in time. It helps you stay at the top of inventory levels, identifying incorrect shipments. Active communication about the orders with the customers helps you win their trust, resulting in improved customer satisfaction.
How to Choose the Best Inventory Management Software?
How to choose the best inventory management software for your business? That is the real deal. You need to choose a system that does not only seamlessly integrates with your existing systems but also provides complete tracking with precision. Inventory by PackageX is one of the best-automated inventory management systems that digitize everything with precision in just a few seconds.
It provides real-time and data-driven insights that can help you keep track of your inventory. Want to know? Click here to request a demo for a 14-day free trial.
The aforementioned benefits of an automated inventory system that can help you increase your productivity and efficiency. If you are using a manual inventory management system, get rid of it today and automate your inventory management operations and witness the results yourself.