Before we dive into the deep water of inventory management for wholesale, let’s look into the reasons why it is important. You may think that an essential part of a business is to make a profit. Of course, it is. But without careful and efficient inventory management you won’t see any growth.
Profit is the result of your sales. The more you sell, the more you earn. However, without efficient inventory management, it is hard to complete transactions successfully. It is also hard to avoid all the pitfalls involved in the process.
If you are not careful, you can lose your cash flow and realise that all your money is tied up as inventory waiting to be sold. In this case, you end up in a circle where you can’t find a way out.
Inventory management for wholesale
While you manage your inventory, you are also managing the cash flow. These two processes may seem like two very different areas, but they are closely intertwined. To successfully control inventory management for wholesale we strongly advise you to implement a cloud-based software.
Lets take Multiorders inventory management software as an example. You can quickly locate the necessary items by using powerful search tools. To ease the search process, you have a choice to filter items by quantity, category, SKU or any other criteria.
Without efficient inventory management, it is hard to complete transactions successfully. It is also hard to avoid all the pitfalls involved in the process.
Besides, with Multiorders inventory management software you can set reorder points. It means that whenever you reach a critical number of inventory items, the system will send you a notification. You can set any number that allows you to restock in time. Immediately after receiving the alert, you can create a purchase order and never run out of stock.
Easily generate invoices
With Multiorders inventory management software for wholesale, you can create invoices in seconds. First, you can change the information shown on your invoices. Afterwards, whenever you need an invoice, Multiorders will generate it automatically. This also applies to delivery notes, purchase orders, shipping labels, picking lists and other documents.
Get various reports
Furthermore, you can get regular reports and easily compare your performance over time. This way you can always be sure of what is most profitable for your business. You can also see what should be pushed harder or replaced. You can request a custom report as well.
However, custom reports may take longer to create and you will have to wait up to two weeks for it. Whereas the default reports are available ASAP and always there for you.