Real Inventory Management

Inventory management (IM) is an often-under valued area of business operations that can hold the key to improved performance and profitability. This is especially true for manufacturers. IM pervades all of the main areas of the manufacturer’s operations: tracking inventory from when it is first obtained from suppliers, through the production process, and finally when it is sold to the customer.

What does it mean to improve inventory management?

A business can improve its IM by improving the efficiency and effectiveness of how it stores and tracks its inventory. This could be done by implementing a system which specialises in inventory software such as Ostendo Operational Software.

Ostendo Operational Software can offer your business real-time information by its inventory synchronizing with all sales and purchasing data and providing data that can be analyzed to help your business indicate costs, profit and the opportunity to plan for the future.  Perhaps you need your inventory tracked by serial numbers, batch numbers, expiry dates or simply stored in specific warehouse and locations. It can do all that and more.

Upgrading to powerful inventory

Upgrading to an IM system will allow a manufacturer to view inventory levels in real-time, meaning that new orders can be placed with a supplier at exactly the right time whilst consider the sales demand. This allows the manufacturer to keep the optimum levels raw materials on the floor.

Implementing IM software can also allow a manufacturer to track the reliability of its suppliers, with respect to statistics like faulty products and delivery times. Since finding the best suppliers can be critical to the long-term success of a manufacturer, having the data to make informed choices about which suppliers to use will allow for improved performance and success

Implementing a modern IM system with IM software is a sure way for a manufacturer to improve its business performance. The benefits of such a system flow through to maintaining inventory, the production process and analyse of data.

Talk to Lime Results about how Ostendo Operational Software could be the right IM system for your business.

The information provided here is of a general nature for Australia and should not be your only source of information.