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Stock systems are a vital tool when it comes to the coherence and coordination of your business operations. With the right stock systems, you can ensure the optimal balance between low error rates and high-speed fulfilment. To make sure your stock system is up to this task, check that you have the following five key elements.
Knowledge is power. The more you can know about every stage of your business’s processes, the better you can co-ordinate and control what is happening. Make sure your stock system allows for complete end-to-end visibility at every stage of your processes.
From purchase right the way through to final dispatch, you need a stock system that can keep up to date with your business’s operations in real-time. This means that every decision you make will be informed by the most up-to-date vision of what is happening. Exactly the kind of feature that is essential for a competitive edge in the current landscape.
Your stock system needs to be able to process information coming in from every platform you operate on. Your Etsy page. Your Amazon storefront. Your eBay shop. Your own independent online presence. Whatever way you present your products as available to the outside world, the software that your stock system uses needs to be able to process this.
Without the ability to operate across different platforms, you may end up with contradictory information in different fields, resulting in a confusing and unprofessional outlook. If one sales avenue declares an item as out of stock, while another declares complete availability, you could end up with a situation where you have customers unable to purchase items sat waiting in your warehouse. Be sure your stock system can handle multiple platforms at once.
Strict industry standards are serious business across a wide range of sectors. Make sure your stock system has the complete capacity to keep up to date with every last regulatory requirement and legal stipulation. Things like batch identifiers, expiry dates, serial number registries, stock discrepancy flagging, shelf life lengths, and full variant logging.
Your stock system must be ready to record everything, and fully able to provide total tracking. From pharmaceuticals to food and protective apparatus to professional apparel, industry-grade health and safety regulations require strict monitoring of every last item. You need to be sure you have selected a stock system that is up to the task.
Alerts and warnings from your stock system can convey vital information. Is a specific supplier being too slow with a vital component? Is one warehouse running low on an item that is in high demand? Is a particular product selling out faster this year than last year? This type of information can be essential, but not every business will need exactly the same details in identical styles. After all, no two businesses are the same, and no one stock system will fix every companies’ issues.
You must ensure your stock system has integrated alerts that can be adjusted. Your business must be both aware of and prepared for, every important eventuality. Too few alerts, and you could be caught unprepared. Too many, and you will be unable to separate the signal from the noise. Make sure your stock system has the kind of adjustable alerts you need to keep your business on its toes.
The best stock systems can speak the same language as your despatch division. You can have all the advantages of end-to-end visibility, multi-platform integration, fully adjustable alerts, and industry-standard compliance, but if you can’t get your product out of the warehouse quickly, it won’t matter.
You need a stock system that can connect effectively with your despatch and courier systems. This removes tiresome and time-consuming rekeying as an issue, making everything much faster. With the right despatch connections, your stock system can ensure every last item gets into your client’s hands in the shortest possible time.
To make sure you are getting the very best stock system possible, you need to make sure all five of these qualities are present. A system without any one of these carries enough disadvantages to cancel out the benefits provided by all the others. That is why the stock systems built by OrderWise can do all these and much more. To discover the full range of their capabilities, talk to one of our representatives today.
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