Optimizing Inventory in Your Distribution Business
Many distributors face a barrage of challenges trying to manage complex inventory systems. With products from multiple vendors with thousands of SKUs to manage, track, and analyze, a lot of distributors remain in a cycle of manually updating data in spite of the readily available technological tools.Identifying and reducing unproductive stock is an essential first step to better inventory management. Unproductive stock can create unnecessary costs in terms of wasted space, customer service hours, and reduced cash flow. Reducing unproductive stock and freeing up prime warehouse space will help to minimize hidden carrying costs and to shift inventory investments to the right items. In today’s highly competitive marketplace, it’s crucial to optimize inventory and hone operations.Inventory management software from Epicor aids in minimizing excess or obsolete inventory, helps to increase cash flow, and improves the ability to make more accurate purchasing decisions.