Top 5 Benefits of a Great Inventory Management System

Proper inventory management is key for all of us small business owners. Stockpile is Canvus Applications' new online inventory management system. Take us for a test drive and see for yourself.

If you manufacture products or purchase products for the purpose of resale, then you will need to properly account for these items in a systematic manner. Achieving this has tremendous benefits for small businesses everywhere and in every industry. Below are the top5 benefits in acquiring a great online inventory system for your business.

1. Inventory Balance

Good management of your business' inventory helps you figure out how much inventory you need at any given point in time. Product shortages and overages will be reduced greatly. Further, your inventory management system will help you stay on top of how well each location is doing (sales, stock times and more).

2. Inventory Turnover

Ever worry about your inventory becoming obsolete, unsaleable due to spoilage? A businesses' inventory turnover is essential in achieving the most out of  your working capital.

3. Repeat Customers

Every business knows the importance of repeat customers for sustained success and continued growth. The ability to always have what your customers want and need is paramount for any small business.

4. Inventory Orders

Better tracking of how much inventory you have on hand at any given time, will you give you the liberty of knowing how much to order and when to order it.

5.  Time Saving

Saving yourself time from having to manually track your inventory in an insecure manner or having to recount your inventory due to manual mistakes is a great benefit for any small business.

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