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Accurate stock control is at the very heart of operations for most businesses, with sales performance and profitability hinging on how well companies can gauge what stock is needed and their ability to obtain the best price from suppliers. In cases where businesses may also be transforming bulk stock into single items to fulfil demand, it may also be crucial to observe stock figures on both a product and individual item level, to gain a true picture of current stock holdings.
Without clear visibility of stock information and an easy method of managing their purchasing activities for all locations, staff can quickly fall into the habit of estimating what to buy instead. The result of this guesswork is that stock locations can quickly become over or under stocked, with more sales opportunities being missed due to sold out stock while dead capital is also tied up in non-shifting items. Therefore, it is vitally important for businesses to maintain accurate control over their stock levels, ensuring they have just the right amount of each item to meet demand.
With OrderWise Purchasing, businesses are already supplied with the functionality they need to accurately monitor and maintain stock levels across all their locations at all times, while also obtaining best value from their suppliers. This is facilitated by the OrderWise To Purchase Report, which can be run at the click of a button and accurately advises users on exactly what they need to purchase, in what quantity and from which supplier.
Further extending the capabilities of the To Purchase Report in version 19.1 of OrderWise, users can now run this report on a product level basis, as well as an individual variant one. This offers businesses using this report within their purchasing activities greater flexibility, allowing those who utilise their products in a more fluid manner to fulfil demand a new insight into their current stock holdings and what they need to be ordering.
By having this added insight available within the To Purchase Report, businesses can dramatically save time when it comes to buying on a product rather than variant level. This ensures over and under stocking is kept to a minimum, whilst enabling OrderWise users to make accurate decisions on what they need to purchase, in what quantity and from which supplier.
If you would like to find out more about how OrderWise can help your business to gain better control over purchasing activities, please contact us on 01522 704083.
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