What is SalesBabu Inventory –On Demand on Cloud?
SalesBabu Inventory On – Demand is a cloud based solution. In comparison to traditional inventory software using On-Demand SalesBabu Inventory Solution is easier. Efficient Inventory management plays a key role in the success of any Manufacturing or Trading business. SalesBabu On-demand Inventory can be operated through an internet connecting browser, you will be billed as per your usage on the annual subscriptions model. With this your IT expenses are predictable and you manage a centralized inventory system with no IT cost. SalesBabu Inventory On- Demand solutions offer greater accessibility to companies and they no longer need to be dependent on the premises applications in order to access inventory information, you may access the required inventory information anytime, anywhere.
Key Obstacles in Inventory Management
- How to streamline the complete inventory control system?
- How to Maintain Stock Information for easy retrieval ?
- How to Manage MRN (Material Receipt Note)?
- How to Manage Item Transaction?
- How to evaluate Inventory cost?
- How to handle Material Bills?
- How to do material bifurcation?
- How to handle vendors?
- Vendor Tagging?
- Item wise Vendor Tagging?
- Stock adjustment vs. physical stock count?
- Main store linking with its sub stores?
- Item transaction cycle?
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Common Benefits of Inventory Management in terms of Cost
- Cost Saving
- Facilitates Real time Tracking of Inventory
- Increased Efficiency
- Reduce Hardware & Software cost
- Enable for Fast Deployment
- Facilitates Integration features
- Improve internal Coordination
- Flexible and Scalable
- Lowest up- Front Cost
SalesBabu Inventory on- Demand software, helps companies to automate inventory workflow on one platform without any manual data punching and additional system requirement & system cost. SalesBabu Inventory On- Demand allows companies to manage lucrative information on a single platform.
Capital Benefits with SalesBabu Inventory On –Demand
- Reduce Paper Work
- Increase real time task tracking feature
- Enable companies with Increased Work Efficiency
- Cut Down entire hardware cost
- Fast & Flexible application implementation & deployment
- Lucrative application Integration
- Enable companies to save IT Software Cost
- Facilitates & Improve Employee coordination
- Facilitates & Increase access @ anytime from anywhere
- Reduced Upfront inventory application investment
- Improve productivity planning time
- Ability to control and reduce Product scrap
- Reduce Stock outs
- Increase Employees tracking & work productivity
- Improve customer satisfaction
- Reduce upfront IT infrastructure Cost
- Fastest software implementation
- Cost Feasibility
- Low internal IT resource requirements
- On-demand Subscription Model Usage
- Enable Pay AS you Grow application module
- Save Company Capital & Streamline Inventory levels
Moreover, SalesBabu inventory On-Demand software increases companies efficiency in many ways. Firstly SalesBabu enables companies for real-time Stock monitoring. SalesBabu can provide full accuracy on the entire workforce where management can easily track the flow of supplies and products and generate reports. Additionally, SalesBabu allows companies to decrease their dependency on premises hosted system solutions and facilitates them to cut upfront IT infrastructure COST with the help of On-Demand subscription model.
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A critical element in Supply Chain
Inventories often called stock or product, point out to finished goods and materials that a business holds for sale to customers for the future. These goods and materials serve one purpose in the business to be sold to customers for a profit. The company’s inventory value is usually one of the largest assets on the books.
Inventory management systems support multiple activities like analyzing sales trends, purchasing products, and on-hand inventory availability as well as liquidation of products for distributors, wholesale, eCommerce retail, and manufacturing companies. Managing inventory is a critical component of Supply Chain Management.
The purchasing department is responsible for acquiring the new product and reordering existing products for manufacturers, wholesalers, and distributors. In e-commerce and retailers companies, the purchase and re-order of inventory is done by merchants (buyers) or inventory control personnel.
An inventory system is a strategic choice
Today, when you check for inventory management systems online, actually hundreds of commercially available systems populate in your search results. A general search may return all sorts of specialized inventory systems that may not fit your business. Examples of likely unneeded software cover those made for raw materials manufacturing and work-in-process inventory; maintaining WMS inventory systems; forecasting and planning require an inventory control system software as a standalone system, and standalone systems implemented for websites or retail point of sale.
The key to selecting the right system for your business is understanding a system’s legacy and the company’s installed base of the users. Is the software fit to meet the requirements of manufacturing, wholesale, and distribution, retail, eCommerce, or direct marketing? The design of the application and its strengths are very different across these industries.
As a business becomes more retail or Internet-based, its inventory control methods must adjust accordingly. Instead of supervising and controlling inventory as “back-end office application” , recording on-hand and vendor on order sales to a customer-facing application. An inventory control system which is customer-facing will likely provide SKU availability, by location and delivery dates, to websites, DCs, and retail stores to fill customer orders. Always, make sure you are asking important questions about inventory control during your system search and Request For Proposal (RFP) preparation.
Ways to Approach Cost Reduction in Inventory Management
Choose Better Software
You should keep track of your inventory levels, or risk overstocking and seeing your inventory costs balloon. If you have been depending on a basic software solution with limited features to manage everything, you probably are not getting the full picture of your inventory situation. Find a software solution that will keep inventory info automatically up-to-date, so will quickly make decisions when necessary. This software will help to centralize control of your inventory, which will cut costs by eliminating unessential effort. This is specifically important for complex operations that require a detailed inventory plan. Centralizing supply chain models will also help you avoid excess and obsolete stock.
Get Rid of Obsolete Inventory
Safety stock is not the only product you are carrying that you do not need. Chances are you have got obsolete inventory, too. It is hard to get rid of stuff when you’re in the inventory management business. Those are the products, after all—products that are theoretically worth money. But if they’re obsolete and not selling, then they are just taking up space.
It’s easy to think that the additional space you’re dedicating to that inventory is keeping valuable products on hand and a good financial decision, but you’re really just throwing good money after bad by paying to store stuff in the hope that it’ll sell at some point. Accumulate all the data on how much of your inventory consists of items that have not yet sold in the past year. A full breakdown of what you are spending on such products is almost always incredible.
Here are some of the key features of SalesBabu Inventory On-Demand that can help you achieve this:
- Real-time inventory tracking: With SalesBabu Inventory On-Demand, you always have a clear picture of your inventory levels, eliminating the need for manual stock counting and reducing the risk of stockouts or overstocking.
- Automated workflows: SalesBabu Inventory On-Demand automates many inventory tasks, such as generating purchase orders, creating material receipts, and managing vendor relationships. This can save you a significant amount of time and money on manual data entry and administrative tasks.
- Improved inventory accuracy: By automating workflows and eliminating manual data entry, SalesBabu Inventory On-Demand helps to improve the accuracy of your inventory data. This can lead to better decision-making and reduced costs associated with errors in inventory levels.
- Reduced storage costs: With SalesBabu Inventory On-Demand’s real-time inventory tracking and forecasting capabilities, you can optimize your inventory levels and avoid the need to carry excess stock. This can help you reduce your storage costs.
- Improved supplier management: SalesBabu Inventory On-Demand helps you streamline your supplier management by providing features such as vendor tagging, item-wise vendor tagging, and purchase order management. This can help you improve your relationships with suppliers and negotiate better prices.
In addition to these features, SalesBabu Inventory On-Demand is also scalable and affordable, making it a great option for businesses of all sizes.
