Inventory Management Secrets inside your Warehouse

Inventory Management: The Secrets Inside Your Warehouse

Get Inventory Right … and Improve Your Bottom Line

It’s no secret that proper inventory management can have a significant impact on a distributor’s bottom line. Challenges arise when companies attempt to make stock projections and prevent overstock. Having accurate historic data will not only prevent loss of profits but will improve customer satisfaction and longevity. But do you have the right tools in hand to hear what your inventory has to say?

Inventory management is the fundamental building block in running a smooth distribution operation across the entire supply chain. Here are five step-by-step ways inventory managers can uncover hidden profits – and preventable losses – buried deep in your warehouses.

  1. Use the gross margin return on investment (GMROI) equation when making buying choices to determine how much profit inventory sales produce after covering inventory costs.
  2. Stock the right products, in the right quantities, in the right places to ensure you aren’t spending unnecessary money just because.
  3. Identify stock that’s sitting on the shelves month over month so you, or your sales reps, can take action before it becomes deadstock.
  4. Identify products that can still be returned before they become a loss, and monitor which products are consistently a bad investment to avoid making the same mistake twice (or three times).
  5. Leverage inventory trend data to uncover cross-sell opportunities for the sales department.

With White Cup inventory analytics software built by distributors for distributors, you can easily uncover hidden profits and preventable losses. Find out which products are making you the most money, which are high in demand and in danger of being out of stock, and which are destined to become a bad investment.

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