August 23, 2023
From spreadsheets to fully automated warehouses, the level of reliance on technology varies from one small business to another. Amidst technology advancement skilled inventory managers still play a pivotal role in streamlining operations and removing inventory anchors for business growth. To what extent can or can’t inventory software be a substitute for an inventory manager?
At first sight, it may seem like inventory management software and inventory managers do share the same list of responsibilities: inventory control, reports, customer orders, purchase orders, QuickBooks, etc. However, inventory management is a lot more than meets the eye. The intricate problem-solving and decision-making involved in the process goes beyond anything that software can do alone. This being said, companies aren’t looking for just anyone who can get the hang of new software - they are after professionals with well-rounded expertise and skills.
On the other hand, more often than not an inventory manager job posting includes proficiency with inventory tracking software or/and familiarity with QuickBooks. Not only is the interaction with technology desirable, but also expected of an applicant to land the job and be successful in it. From a job seeker‘s perspective, having a software tool that takes the routine and tedious work out of their responsibilities could be extra motivation. Most people are more excited about thinking and acting strategically based on given data rather than spending 90% of time filling out spreadsheets.
All things considered, an inventory expert effectively using inventory software is what you want to aim at. Let’s delve into how inventory software boosts the efficiency of a skilled inventory manager.
Inventory software is the best sidekick for an inventory manager
An inventory manager’s responsibilities may vary from one company to another but overall there’s no denying that they are multi-taskers. So is HandiFox. The software is a good case in point for a tech tool replicating the tasks and accumulating data that only an inventory manager can make sense of.1. Documenting daily deliveries and shipments
HandiFox keeps all orders in one place available 24/7 for review and editing. What’s coming in (purchase orders) and going out (sales orders) gets verified thanks to barcoding technologies. What’s left for an inventory manager to do is make sure human errors don’t slip in and, if they do, make a couple of clicks to locate the order/ user/ supplier that caused them.
2. Determining shortages and replenishing on time
Using spreadsheets to try and stay on top of stockouts is going to wear you down in no time. Software like HandiFox allows setting up replenishment triggers so an inventory manager can see it’s time to stock up and this is what the reorder quantity should be.
3. Managing and overseeing inventory counts
The cycle counts and physical inventory in HandiFox are designed in a way that automates inventory managers out of the process. Once warehouse workers are instructed on what needs to be counted and what doesn’t, for example, what categories or isles/racks/shelves/bins, inventory managers just have to wait for it to be over. Completed counting sessions will be awaiting their review and confirmation in the app.
4. Creating daily inventory transfers
It’s hard not to spread yourself thin while supervising multiple storage locations. HandiFox offers a multi-location inventory tracking that collects and displays all inventory-related information across physical sites and helps those in charge make informed inventory transfer decisions. Any inventory movement done in the app is logged and triggers an instant adjustment of inventory levels.
5. Coordinating inventory needs across teams
HandiFox provides a centralized platform where managers can collaborate with warehouse staff, procurement, and sales teams. They can communicate inventory status changes and order updates right from their phones, which eliminates all the legwork and phone calls.
6. Creating and analyzing detailed reports
What’s been selling best over the last couple of months? Who’s your most valuable salesperson or customer? Your inventory managers won’t have to dig for this information. The analytics also makes it tons easier to align inventory with promotional activities.
7. Reconciling data
No software is flawless. Occasionally, one makes a faulty entry, or simply does it in a wrong way causing data conflicts in the software. HandiFox employs preventive mechanisms that minimize carrying these errors into QuickBooks and the other way around.
8. Optimizing inventory control procedures
HandiFox follows the logic of QuickBooks and some commonly established inventory procedures. Each and every small business is unique. Naturally, they all look for the closest fit to their current processes and budget. We at HandiFox keep our minds open to any feature requests that inventory managers come up with to optimize their work. Bring it in!
With all the benefits technology offers these days, it’s no wonder small businesses increasingly rely on it to automate processes. However, without human judgment, intuition, knowledge and experience, software doesn’t stand a chance. Getting an inventory app for your current employees or showcasing it on a job interview with a prospective inventory manager might get them excited even more about the work ahead. Sign up for a live demo or take a free fully-featured trial of HandiFox - you might just as well find a new tech partner.