The inventory spreadsheet: the wrong tool for the job.
If you’re like a lot of businesses, you may use spreadsheets to manage your inventory. When you started out, that 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 is the wrong tool for your inventory management job. As supply chains become increasingly complex, spreadsheets become increasingly ineffective. You’re stuck building and managing manual spreadsheets and wasting time dealing with formula errors, hard-to-use templates, and multiple spreadsheet versions. Spreadsheets can’t address tasks such as forecasting demand, assessing risk factors, and calculating appropriate stock levels – leaving you at risk of overstock situations or stock outs that 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.
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 realize more profit from your inventory 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 inventory management tool, MicroAccounting can help. Call us today at 855-876-3773 to find out more about our solutions, including Sage100 and Sage Inventory Advisor.