Digital Inventory Control Systems

Because inventory causes exponential pain with multiple warehouses... This infographics shows how to manage inventory in this context: ➡️ Centralize Inventory Visibility ↳ Issue: not knowing inventory levels across locations can lead to overstock in one warehouse and stockouts in another ↳ Action: Implement an inventory management system/ ERP that shows real-time inventory positions for all warehouses in one snapshot ➡️ Classify Products and Prioritize ↳ Why: Not all SKUs deserve the same treatment; some are high-value, others are seasonal ↳ Action: Use ABC analysis to rank products by focusing on A-items for tighter control ➡️ Define Replenishment Rules by Warehouse ↳ Why: Different warehouses cater to different regions or demand patterns. One-size-fits-all reorder points (ROP) won’t cut it ↳ Action: Tailor ROP, safety stock, and min-max levels by location. Consider lead times from central distribution centers or suppliers for each site ➡️ Breakdown Forecast by Warehouse ↳ Why: Each warehouse faces unique market dynamics ↳ Action: Generate warehouse-level forecasts, combining local sales trends with broader S&OP inputs ➡️ Plan Transfers Strategically ↳ Why: Sometimes it’s of lower cost or faster to transfer stock than reordering from suppliers ↳ Action: Set up a transfer framework; regularly review surplus vs. deficit at each location. Automate triggers for transfer orders when it’s cost-effective. ➡️ Monitor KPIs Proactively ↳ Why: Multi-warehouse complexity can hide inefficiencies when not tracking the right metrics ↳ Action: Track fill rate, inventory turnover, stock aging, and transfer costs at each site. ➡️ Plan Direct Dispatches & Save Costs ↳ Why: Dispatch directly from the plant to save logistics costs ↳ Action: Prepare daily dispatch plans targeting direct replenishment from the plant and use these warehouses for milk runs for distributors Any others to add?

𝗢𝗻𝗲 𝘁𝗵𝗶𝗻𝗴 𝗜 𝗹𝗼𝘃𝗲 𝗮𝗯𝗼𝘂𝘁 𝗯𝗲𝗶𝗻𝗴 𝗮 𝗱𝗮𝘁𝗮 𝗮𝗻𝗮𝗹𝘆𝘀𝘁 𝗶𝘀 𝗵𝗼𝘄 𝗜 𝗮𝗽𝗽𝗹𝘆 𝗶𝘁 𝗶𝗻 𝗺𝘆 𝗱𝗮𝗶𝗹𝘆 𝗹𝗶𝗳𝗲 𝘁𝗼 𝘀𝗼𝗹𝘃𝗲 𝗿𝗲𝗮𝗹 𝗽𝗿𝗼𝗯𝗹𝗲𝗺𝘀. A while ago, I used to track sales for my business manually in a notebook. Every transaction meant flipping through pages, doing calculations by hand, and trying to keep up with inventory. It was stressful! 😩 Sometimes, I’d run out of stock without realizing it. Other times, I’d spend hours trying to figure out my total sales and profit. I knew there had to be a better way. So, I built an 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝗱 𝗦𝗮𝗹𝗲𝘀 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 & 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝘆𝘀𝘁𝗲𝗺 𝗶𝗻 𝗘𝘅𝗰𝗲𝗹 to make my life easier. 𝗪𝗵𝗮𝘁 𝘁𝗵𝗶𝘀 𝘀𝘆𝘀𝘁𝗲𝗺 𝗱𝗼𝗲𝘀: ✅𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲𝗱 𝗦𝗮𝗹𝗲𝘀 & 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲 𝗘𝗻𝘁𝗿𝘆 ▫️ VBA Macros: Instead of manually inputting data, I used VBA Macros to log transactions with just one click. ▫️ Data Validation: Selecting a product category automatically populates the products under that category for accuracy. ▫️ XLOOKUP: Instantly retrieves product ID, prices and cost, eliminating manual lookups. ▫️ Real-Time Calculation: Uses the PRODUCT() function to compute totals automatically. ✅ 𝗜𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝘆𝘀𝘁𝗲𝗺 ▫️ SUMIF() tracks purchases & sales per product for real-time stock updates. ▫️ Stock Calculation: Remaining stock is automatically computed (Purchase - Sales). ▫️ IF() Function for Stock Alerts: Every sale or purchase instantly updates inventory, with alerts like "Low Stock", "Out of Stock" or “In Stock” ✅𝗜𝗻𝘁𝗲𝗿𝗮𝗰𝘁𝗶𝘃𝗲 𝗮𝗻𝗱 𝗗𝘆𝗻𝗮𝗺𝗶𝗰 𝗦𝗮𝗹𝗲𝘀 𝗗𝗮𝘀𝗵𝗯𝗼𝗮𝗿𝗱 ▫️ Visual insights on best-selling products, sales trends, revenue breakdown, and Inventory Values using Pivot Tables and Charts. 📍 With this system, I have saved time, reduced errors, and made better business decisions. I no longer worry about stockouts, miscalculations, or spending hours on sales records. This is why I love data. Beyond projects and dashboards, it’s about solving real problems, even in everyday life. 🔗 Curious to see how it works? Check out my Video on YouTube: https://lnkd.in/dAhJNp5D 🔗My project on GitHub: https://lnkd.in/dVM6xg3G #DataAnalytics #Excel #VBA #XLOOKUP #Automation #SalesTracker #InventoryManagement #ProblemSolving

Inventory is often the largest asset on the balance sheet for B2B businesses, often exceeding cash holdings.  Managing it with basic accounting tools is like building a house with a screwdriver 🪛 Inventory management is one of the biggest challenges, creating financial, operational, and technical hurdles that can make or break a business. Solving this challenge delivers a massive impact. Many businesses start with spreadsheets that quickly become unmanageable as they scale. Then they graduate to QuickBooks, but that platform has serious limitations and can only serve you for so long. The logical next step? Upgrading to an ERP? That's a steep ladder to climb and not everyone can afford it. So what should you do if you know that your inventory system could be lying to you. ➡️ If you’re estimating your margin at 68% when it is actually 42%, then you’re selling at a loss without knowing it. ➡️ How about a merchant I worked with that lost track of $50,000 in product sitting in a warehouse cage. Not stolen. Just misplaced. Most businesses under $30M don't need a full ERP, but they do need a robust inventory management solution 📦🚚 The good news: mid-market solutions exist between QuickBooks and $40k/year enterprise systems. This niche has matured in the last few years and several strong players emerged in this space. These platforms integrate with QuickBooks for financial reporting and with popular eCommerce platforms, allowing you to control your inventory without disrupting the entire business. In my experience, implementation typically takes 2-3 months, and the budget for proper setup tends to be around $10-15k (self-implementation almost always fails). That’s a sweet deal compared to the cost of ERP implementation, isn’t it? In my next posts, I'll expand on how to approach IMS implementation for B2B Commerce merchants. #B2B #inventory #inventorymanagement #warehouse #warehousemanagement #b2bcommerce #ecommerce #logistics #accounting #supplychain #distribution #manufacturing #finance #profitability #cin7 #acumatica #erp #ims #wms

𝗬𝗼𝘂𝗿 𝗶𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗱𝗮𝘁𝗮 𝗶𝘀 𝗹𝘆𝗶𝗻𝗴 𝘁𝗼 𝘆𝗼𝘂. Here’s how to fix it. At Chubbies, we learned the hard way—bad inventory data = bad decisions. We’d think we had stock when we didn’t. We’d oversell bestsellers. We’d waste cash on inventory we didn’t need. 𝘐𝘧 𝘺𝘰𝘶’𝘳𝘦 𝘳𝘶𝘯𝘯𝘪𝘯𝘨 𝘢 $20𝘔-$50𝘔 𝘣𝘳𝘢𝘯𝘥, 𝘺𝘰𝘶 𝘬𝘯𝘰𝘸 𝘵𝘩𝘦 𝘱𝘢𝘪𝘯—𝘱𝘩𝘢𝘯𝘵𝘰𝘮 𝘪𝘯𝘷𝘦𝘯𝘵𝘰𝘳𝘺, 𝘮𝘪𝘴-𝘱𝘪𝘤𝘬𝘴, 𝘴𝘵𝘰𝘤𝘬𝘰𝘶𝘵𝘴, 𝘢𝘯𝘥 𝘪𝘯𝘦𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘵 𝘸𝘰𝘳𝘬𝘪𝘯𝘨 𝘤𝘢𝘱𝘪𝘵𝘢𝘭—𝘧𝘳𝘰𝘮 𝘮𝘦𝘴𝘴𝘺, 𝘪𝘯𝘤𝘰𝘯𝘴𝘪𝘴𝘵𝘦𝘯𝘵 𝘵𝘳𝘢𝘤𝘬𝘪𝘯𝘨. Here’s how we fixed it: 𝟭. 𝗖𝗲𝗻𝘁𝗿𝗮𝗹𝗶𝘇𝗲 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴. DTC, wholesale, retail stores, marketplaces—every channel pulls from the same inventory system in real-time. No more manual updates. 𝟮. 𝗞𝗶𝗹𝗹 𝘁𝗵𝗲 𝘀𝗽𝗿𝗲𝗮𝗱𝘀𝗵𝗲𝗲𝘁𝘀. We moved all core ops into a digitized system so the team could self-serve. The longer you rely on spreadsheets, the worse the data silos get. 𝟯. 𝗙𝗶𝘅 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗴𝗮𝗽𝘀 𝗳𝗮𝘀𝘁. If a third party or internal process is creating inventory inaccuracies, don’t let it linger. Painful or not, fixing it now saves you massive headaches later. 𝟰. 𝗧𝗿𝘂𝘀𝘁 𝗯𝘂𝘁 𝘃𝗲𝗿𝗶𝗳𝘆. We ran cycle counts religiously. The faster you catch discrepancies, the less they cost. If accuracy is slipping, count more often. Messy inventory data isn’t just an ops issue—it’s a profitability killer. Fix it now, or pay for it later. Ever had an inventory nightmare? Let’s talk👇 #inventory #shopify #ecommerce

When a customer can't find a product they want to buy from your website... They become loyal customers. But not yours rather to another website where they find that product. Imagine the loss you have just because of poor inventory management. Stockouts cost retailers over $1 trillion in lost sales annually. Shoppers encounter out-of-stocks as often as one in three shopping trips. This issue leads customers to abandon their purchase or turn to competitors. Never give your competitors an opportunity just because of poor inventory management. Retailers need a better handle on their inventory to avoid stockouts and ensure customer satisfaction. Using advanced AI and smart systems can solve this problem. For instance, platforms like Ekyam.ai provide real-time inventory visibility. This ensures you know exactly what stock you have at all times. Ekyam's technology optimizes order management and streamlines data flow across various platforms. This reduces manual errors and ensures inventory data is always up to date. With predictive analytics, you can forecast demand accurately. This helps in maintaining optimal stock levels and meeting customer demand promptly. Automated systems also help in reducing the burden on staff and improve efficiency. By implementing these solutions, you can minimize stockouts and avoid losing sales to competitors. In today’s competitive market, having an efficient inventory management system is crucial. Don't let poor inventory control hurt your business. Invest in smart technologies to sustain and grow your business. #supplychain #retail #technology #ai #inventory

Pleased to share this new Nucleus Research report on our Inventory Twin launch. Organizations implementing this capability are seeing 5-15% reductions in inventory carrying costs and 3-8% improvements in service-level performance by unifying real-time inventory, transportation, and warehouse data. The Inventory Twin builds on our graph-based network model and Chorus IoT partnership to give enterprises actionable visibility—not just dashboards, but the ability to identify and resolve stock imbalances, capacity constraints, and order disruptions directly within the platform. This represents the next evolution in our journey from visibility provider to Intelligent Control Tower—turning insights into execution at scale. Link to full report in comments. FourKites, Inc. #IntelligentControlTower #DigitalWorkers

How Smart Inventory Management Systems Can Improve the Bottom Line In today's data-driven economy, an effective inventory management system is essential. Smart systems use technology and analytics to optimize stock levels, cut costs, and boost profitability. Here is how incorporating a smart inventory management system can transform your business and improve your bottom line: 1. Reduced Operational Costs Smart inventory systems use real-time data and AI for accurate demand forecasting, improving inventory planning and preventing overstocking or understocking. This reduces storage costs, minimizes waste, and frees up capital. 2. Improved Cash Flow By preventing over-purchasing, businesses can free up cash that would otherwise be tied up in inventory. This can improve liquidity and allow companies to reinvest in growth opportunities or streamline other aspects of the business, such as hiring new talent or investing in marketing. 3. Enhanced Customer Satisfaction Nothing frustrates a customer more than finding out an item is out of stock when they need it. A smart inventory management system helps ensure that the right products are available at the right time, improving customer satisfaction and increasing repeat business. For e-commerce and retail companies, this means fewer backorders and higher ratings and reviews. 4. Data-Driven Decision Making Smart systems do not just track inventory—they analyze it. With features like predictive analytics and reporting, managers gain insights into trends, seasonality, and the lifecycle of each product. This information allows businesses to make better decisions about procurement, promotions, and pricing strategies, all of which contribute to healthier profit margins. 5. Increased Efficiency and Productivity Automated stock tracking, ordering, and updates save time for employees, enabling them to focus on more strategic tasks. Reducing manual processes also minimizes errors, leading to fewer discrepancies and less time spent on corrections. This means that resources can be redirected to areas that drive growth, such as customer service and business development. 6. Scalability and Flexibility Smart inventory systems are scalable, meaning as your business grows, your inventory management can grow with it without the need for a complete overhaul. This flexibility allows companies to expand to new locations, add new products, or diversify their offerings without facing operational chaos. Conclusion In summary, smart inventory management systems are essential for modern businesses. They help reduce costs, improve cash flow, enhance customer satisfaction, enable data-driven decisions, increase efficiency, and support scalability. By optimizing inventory processes, these systems drive growth and boost profitability. #SupplyChain #InventoryManagement #BusinessGrowth #Technology