If you’re like a lot of businesses, you may use spreadsheets to manage your inventory. But the spreadsheet is the wrong tool for managing your inventory replenishment. And using it can result in costly overstock situations that eat into your profits.
When you started out, inventory spreadsheets probably made sense. After all, most PCs come with a spreadsheet application, making it an accessible and essentially free business tool. And it’s not that difficult to create a standard spreadsheet and input the appropriate data.
But as your company grows, the inventory spreadsheet doesn’t work for managing your stock levels. As supply chains become increasingly complex, spreadsheets become increasingly ineffective. Spreadsheets can’t address tasks such as forecasting demand and calculating the right safety stock levels, leaving you either with excess inventory or stock-outs – both of which negatively impact your profitability.
Maybe you didn’t think you could afford a better option. Once upon a time, inventory management systems came with a level of complexity and a price tag that made them impractical for small and mid-size companies. These companies often limp along with spreadsheets and other manual workarounds, and wind up stuck with expensive excess stock they couldn’t sell.
Fortunately, the right tool for the job exists. An automated inventory management system like Sage Inventory Advisor is specifically designed to handle today’s complex supply chain, allowing you to optimize your inventory levels through more effective planning, smarter ordering, and streamlined purchasing and billing. And today’s cloud-based technologies mean that these solutions are more advanced and less expensive than ever before, whether your business is big or small.
If it’s time for your organization to make sure you have the right tool to manage your inventory levels and avoid overstock situations, MicroAccounting can help. Call us today at 855-876-3773 to find out more about our solutions, including Sage100 and Sage Inventory Advisor.