The Software You Need to Monitor Stock Levels, Orders and Sales for Your Business

LONDON, ENGLAND, November 26, 2011 (Press-News.org) Inventory management software provides real time data on sales, stock levels and orders within your business, whether the business trades on the high street, online or both. For example, should an item suddenly become out of stock, all terminals and points of sale for the business, and potentially any websites as well, can be instantly updated with the information, removing the risk that orders can be taken for unavailable goods. Once an item is back in stock, the information can be relayed back to the terminals, points of sale and websites, enabling the item to be displayed as being in stock and available for purchase.

Orders are processed in the same way; once an order has been placed, those goods are taken out of the overall stock level and made ready for distribution, and should the order be cancelled for some reason then the item is simply re-entered into the system as available stock and any necessary adjustments are made to inventory management.

The information provided by the stock control system can be used for profit and loss forecasts and to identify any areas within the company where sales may be falling or have become stagnant. It also allows for stocking levels to be maintained in the correct ratio according to sales demands. Over stocking on slow or redundant items can be very costly and take up valuable storage which could be used to keep the business and sales active with more profitable goods.

Using software also enables a company to run reporting on the most successful products, as well as seasonality or patterns which will be useful to feed into planning in subsequent years. Not being able to supply goods on request can also cost the business dearly in terms of lost sales and damage to reputation. Mistakes in maintaining the correct inventory levels can quickly result in poor reviews and bad word of mouth which may result in the loss of repeat business.

An investment into stock control software not only keeps the business running smoothly, it can also reduce staffing levels and overheads. The dreaded stock audit is also far less complex as all the information is available online and can be printed off within seconds.

Many businesses have found that the implementation of inventory management software has reduced their instances of fraud and theft within the company. They also report that efficiency levels have dramatically increased within the company thanks to a smoothly running automated system and the ability to dispatch orders sooner.

For many businesses, stock control and stock management is a very delicate balancing act, which can prove to be stressful, time consuming and in many cases financially dangerous. Trying to manually keep track of thousands of items which may be located in different sites, as well as processing orders and/or keeping shelves stocked and correctly priced requires a lot of time and effort and may require the involvement of a number of employees - all of which could be an unnecessary drain on the business finances. The time spent on manual stock control management could be spent on growing the business and analysing sales trends in order to identify potentially profitable new stock lines.

Inventory management software allows a business, no matter how large or small, to trade in the confidence that all orders and sales are being processed and stock is being managed with precision and efficiency.

Brightpearl headed up by CEO Salman Malik, a former executive at Siebel Systems, offers integrated software to run a multi-channel retail, wholesale or ecommerce business: including inventory management, an ecommerce platform, electronic point-of-sale (EPOS), accounting, and CRM. The Brightpearl solution was originally created by Chris Tanner and Andrew Mulvenna in 2006 whilst working together at Lush Longboards and becoming frustrated by the many disparate systems for accounting, inventory management and CRM. Customers today include Subway, Evolve Beauty and Oak Furniture.

Website: http://www.brightpearl.com