Inventory Management

inventory management

Inventory levels change continously. Purchases, sales, theft, damages etc all effect your quantity figures. As your business grows, so does your inventory. Scarlet Software Inventory Management helps you keep track of all the stock levels, whether they are on order, in the warehouse or at a different location.

Key Benefits
  • Product Availability - This is achieved by identifying what's low on quantity and let the system automatically replenish by using data such as reorder levels,minimum stock levels, sales within a period etc.
  • Improved cashflow - When you order the quantities that you just need, you will be avoiding spending extra cash on items which do not sell or buying additional items which you already have in stock, but not aware of.
  • Accurate valuation - Having an accurate stock valuation will allow you as a decision maker to take the right decisions on what to invest in. It will also help in financial accounts, by providing the right figures for stock valuation purposes.
  • Problems immediately identified - If there are any issues with your business flow, such as a bottleneck in a warehouse, pilfering in an outlet, or overstocking; these can be identified at an early stage, rather than considerable damage has been done.
  • Happy Customers - Customers are served best when they visit your shop and finds everything they need. Using the scarlet managemnt system you will be able to check availability in other locations or wheter an item is on order.
  • Easy reordering - The system will automatically suggest the quantity levels that need to be reordered. There is no need to do a stock take everytime you need to reorder because all the data you need is already in the system.
  • Theft reduction - By keeping track of all quantity levels, you can easily identify any loopholes in the system. Monitoring of stock levels also helps as a deterrant against theft.
  • Reduce storage costs - By maintaining the right levels of stock, at the right place and the right time, your organisation will avoid paying extra for storage facilities. Keeping track of the exact location of the stock helps in wasting time looking up your products.
  • Peak Season - There might be times when some products peak at a certain time of the year, such as seasonal items or during sales. Having accurate stock figures is crucial to provide the optimum quantities during such times.