ABM Advisor: The ABM Blog.
Showing News Filtered By Date from: 2018-11-01 - 2018-11-30
Picking warehouse management software that's capable of changing with your business is key. As your business expands, your software should be able to grow with it and support your entire supply chain.A scalable software solution means it can do just that. You could start your business with 10 products and grow it to 1000 over time without having to manage a software transfer alongside your increasing sales. Similarly, if you start off wanting to record a simple inventory but want to expand it to manage your entire supply chain, you need business management software that can handle the change without complications.That's why it's important that alongside listing your products, your warehouse management software is capable of supporting your entire warehouse operations, from the arrival of goods, to their storage and shipping. It should optimise your process so it's easy for you to stay on top of your stock, however you choose to use it.Warehouse management software gives you an understanding not just of what you've bought and what you've sold, but what's happening in between and how.Here we explain why scalable software is so valuable to your overall warehouse management and how to know if yours is truly scalable.A tool that allows you to quickly locate each item of stock makes your entire warehouse operation more efficient.1) It can tell you more than just how many products you've soldA solution that enables you to keep on top of everything about your stock is crucial for large warehouses. This isn't just about the ability to keep track of a larger stock inventory, but about being able to change and improve the way your entire supply chain operates.You might start off selling black shoes, but if you then expand into selling the same shoe in 3 different colours and a wide range of sizes, you might want to start recording more details about each item of stock you hold. All these additional details let you drill down further into how stock is performing and what key aspects drive your sales, as well as ship or reorder the right product more quickly.Furthermore, as your business grows, a tool that allows you to quickly locate each item of stock makes your entire warehouse operation more efficient. Too much time is wasted in looking for misplaced stock, while profit is affected when items can't be found or orders fulfilled. With a system that helps you pinpoint stock from the moment it arrives to the day it's shipped, your operations are as efficient as possible and your customer orders satisfied within your promised delivery dates. A good warehouse management systems allows you to choose the most efficient method to fulfil individual orders. 2) Shipping and stock management are part of the same systemBeyond knowing what's in your storage facility, having a shipping system attached to your warehouse software allows you to streamline the way you do business without migrating to a new business management solution.With your shipping consignments working from the same database as your stock management, it's possible to direct the most efficient picking method for your warehouse. Modern warehouse management software allows you to organise orders to be batch or cluster picked according to the orders you have going out, and the resources you have available to fulfil them.Having one system to manage two aspects of your warehouse operations provides real-time data, an accurate picture of stock and up-to-date knowledge of your storage space and options.It also means you can keep track of stock that's being shipped between sites or branches, so that those products don't fall off your radar and create more work later down...Read Full Story
When selecting accounting software, businesses need to find a program that will work now and in the future. When a business grows, their accounting software should be able to handle it. Advanced accounting software can handle increased transactions, more complex reports or the ability to have a whole finance team accessing it at the same time.Here are some advanced features your business accounting software should have if you want it to do more for you.Inventory managementIntegrating inventory management with accounting provides accurate sales forecasting and cash flow, based on real-time information. It allows businesses to reconcile stock levels with actual sales, without combining reports from two systems to identify discrepancies. Companies can properly plan their stock orders and keep track of how much working capital is tied up in stock, while changing product costs automatically pulls through to invoices.Read Full Story
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