Greater Reliability with Business Inventory Data Leads to Increased ROI

08 Jun

Greater Reliability with Business Inventory Data Leads to Increased ROI

Nothing is more frustrating than promising a customer a product and finding out it’s out of stock … all because your inventory data is flawed or out of date. Worse still is telling a customer you’re out of stock on something when in fact you have plenty of it. Is it any wonder that businesses crave better inventory data?

A new paper from Sage called Conducting a Cost-Benefit Analysis for ERP sheds light on the many benefits to consider when implementing an ERP solution. One of the many benefits is greater reliability.

Accurate, timely business data is critical to all departments in your organization, but perhaps it is most critical to the inventory and fulfillment centers. Without accurate data, they can’t fulfill customer orders quickly. They may erroneously report information to sales or manufacturing. These errors can multiply, causing cost overruns, duplicate stock, and excess warehouse space taken up with redundant products.

Better Data Leads to Faster Shipping Times

Consider your company’s data needs when it comes to shipping times. Integrated systems that can share ordering, warehouse, and fulfillment data can provide an accurate picture of possible shipping times. Customers rely upon this information to predict their own business needs. Without reliable data, many links in the chain of information can be broken.

Reliable Information and Happy Customers

Another benefit of ERP systems that leads to higher ROI when calculating your cost-benefit analysis is the benefit of greater reliability and happy customers. Reliable, timely data enables your staff to answer questions quickly and efficiently. When customers hear back immediately from your team, their customer satisfaction improves. The higher the satisfaction level, the more likely customers are to stay with your company and not take their business elsewhere.

Sage Inventory Advisor for Your Business Inventory

Sage Inventory Advisor works with Sage 300cloud (formerly known as Sage 300) and Sage EM (formerly known as Sage X3) to provide greater data reliability that both you and your customers need. With Sage Inventory Advisor, you can optimize your business supply chain so that you can manage your business inventory efficiently and, in turn, serve your customers quickly and efficiently.

Sage Inventory Advisor can help you avoid inventory glut, that excess inventory that just takes up valuable floor space without adding any profits to your bottom line. It can help you manage stock levels so that you’re rarely out of stock on any one item, leading to more orders fulfilled and happier customers.

Automating tasks is part of Inventory Advisor, and it takes away a lot of the manual labor associated with other inventory products. Reducing manual labor also reduces mistakes, and saves time which your team members can spend elsewhere.

Lastly, Inventory Advisor can also make your warehouse data transparent to other parts of the organization. Looking at stock levels can help your marketing department determine what to promote and when. Sales can work harder to sell excess inventory. Everyone benefits from greater data reliability.

Paint a Picture of Profitability

The complete white paper will help you shape an economic cost-benefit analysis to propose new ERP systems to your company. In this paper, you will learn:

Which cost factors to consider when studying the ROI of an ERP system
Potential benefits to balance the equation
Setting expectation levels
Tips for a successful implementation

DOWNLOAD the white paper here: Conducting a Cost-Benefit Analysis for ERP

Choosing an ERP system and inventory reporting solutions isn’t a decision to be made lightly. After all, your company relies on its data for decision making. IWI offers ERP consulting that can walk you through the cost-benefit analysis and add to the information contained in the white paper. With Sage 300cloud (formerly known as Sage 300), Sage EM (formerly known as Sage X3) and other ERP solutions, we can help you improve data reliability, transparency, and timeliness.