Distributors and manufacturers of all size know that inventory control is critical to maximizing profits and generating revenue. They have to be able to manage their inventory levels in order to keep the supply chain moving as efficiently and effectively as possible. When they have more control over their inventory and a better understanding of where all items are in the distribution process, they can make the best possible decisions for their business and for their customers.
What is Inventory Control?
Inventory control is the process of understanding all inventory levels, their location within the supply chain and the impact that those inventory levels will have on profitability. Anyone who wants to fully understand their inventory control processes needs to have a system in place that allows them to view the larger picture as well as delve into the details.
Data that needs to be considered when evaluating inventory control includes:
- The specific item.
- The quantity ordered.
- The date the item is required by.
- The quantity and selling price.
- The quantity that is still available for sale.
- The quantity on order from each individual vendor, as well as due dates and costs for each individual vendor.
The Benefits of Using Fresh Byte Software for Inventory Control
- With Fresh Byte Software, users have the ability to customize their inventory control reports. They can view unlimited receiving and selling units-of-measure for each item. In addition, they can customize their reports by using optional lot-tracking and catch-weight as well as net weight tracking capabilities.
- Users have access to live data regarding inventory levels. They can identify inventory that is scheduled for re-packaging or processing. They can receive instant, up-to-the-minute reports regarding the availability of every item within their inventory. Also, there is live data available for committed sales for each item as well as the anticipated arrival date for each item. Furthermore, live data can be customized and filtered based on the warehouse where the inventory is located. This allows businesses to narrow the scope of their inventory control when needed. The real-time data can be used to automate processes, or can be implemented with a physical inventory control system.
- Users can use the data collected by Fresh Byte Software to improve their profits and business processes. Instant profit reporting is available, and these tools allow users to view profit reporting by item, load, customer or vendor. In addition, there are tools that provide price-after-sale capabilities. Date-sensitive reporting tools allow users to have a better idea of how much revenue will be generated at any specific point in time. These date-sensitive reporting tools can look forward or backward, which improves the ability for a business to evaluate past sales data while also looking toward improving processes for the future.
Fresh Byte Software is the module that all businesses need in order to have more control over their inventory levels and to make better decisions for the future of their organizations. Its features can be used by any authorized personnel member within an organization, making it an ideal technology platform for any business of any size. It puts inventory control in the hands of those who need it most, without compromising the security of the business or its data.
For more information on inventory control and the Fresh Byte Software, contact us today.