A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
How to deal with excess stock in your inventorySalesBabuCRM
Many companies argue on the advantages of having excess and safety stocks in their warehouses and believe it’s beneficial in the longer run. Let’s discuss more on the excess stock situation in our warehouses and ways to deal with it.
6 inventory control techniques for stock optimizationSalesBabuCRM
Inventory management is the process of tracking every stock which comes in and goes out of a warehouse starting from manufacturing till the final product delivery. There are many inventory management techniques and softwares which have many efficient ways of controlling our company’s stock and improving overall business revenue.
ICS Retail Suite covers everything from POS to Back Office to Head Office operations; automating the entire operations, virtually eliminating paper work.It allows the management team at the Head Office to have complete control over data at the stores
Our retail setup can scale up to a complex multi-store environment with complete integration with your day to day business operations.
Get to know more about Retail Suite here: http://www.ics.com.ph/retailsuite/
=============================================
For more information about Retail Suite:
Integrated Computer Systems, Inc.
3/F Limketkai Bldg., ortigas Ave., Greenhills, San Juan City 1502 Philippines
Tel: (+63 2) 744 3000 • 727 3801
Fax: (+63 2) 721 4502 • 621 9464
Email: info@ics.com.ph
Website: http://www.ics.com.ph
Order Fulfillment Services- A Business.com GuideBusiness.com
There are many stages an order must pass through that involves software systems and physical systems. It’s no wonder companies large and small are contracting out this function to specialized order fulfillment services providers. Use this Business.com to help to choose a basic or advanced order fulfillment service.
How to deal with excess stock in your inventorySalesBabuCRM
Many companies argue on the advantages of having excess and safety stocks in their warehouses and believe it’s beneficial in the longer run. Let’s discuss more on the excess stock situation in our warehouses and ways to deal with it.
6 inventory control techniques for stock optimizationSalesBabuCRM
Inventory management is the process of tracking every stock which comes in and goes out of a warehouse starting from manufacturing till the final product delivery. There are many inventory management techniques and softwares which have many efficient ways of controlling our company’s stock and improving overall business revenue.
ICS Retail Suite covers everything from POS to Back Office to Head Office operations; automating the entire operations, virtually eliminating paper work.It allows the management team at the Head Office to have complete control over data at the stores
Our retail setup can scale up to a complex multi-store environment with complete integration with your day to day business operations.
Get to know more about Retail Suite here: http://www.ics.com.ph/retailsuite/
=============================================
For more information about Retail Suite:
Integrated Computer Systems, Inc.
3/F Limketkai Bldg., ortigas Ave., Greenhills, San Juan City 1502 Philippines
Tel: (+63 2) 744 3000 • 727 3801
Fax: (+63 2) 721 4502 • 621 9464
Email: info@ics.com.ph
Website: http://www.ics.com.ph
Order Fulfillment Services- A Business.com GuideBusiness.com
There are many stages an order must pass through that involves software systems and physical systems. It’s no wonder companies large and small are contracting out this function to specialized order fulfillment services providers. Use this Business.com to help to choose a basic or advanced order fulfillment service.
Walmart* have done tremendous work on supply chain management. One of the
keys to Walmart’s effective logistical system is the flexibility that it has when
choosing suppliers.
When Walmart negotiates with suppliers and the suppliers know that Wal-Mart
will only pay the most competitive prices. This is because it is very easy for them
to find another supplier of that particular material with a lower price and very few
logistical problems
Another reason that Walmart's prices are so competitive is because they buy in
such large quantities that transportation from one end of the supply chain to
another is not as costly for additional units. Here they focus on bulk and get profit
out of it
This aspect of the logistical system does not come from skill or expertise it simply
comes from the sheer size of the company, but this is still a factor.
Walmart buys so many supplies from different places throughout the world, that
they have the luxury of using bigger trucks and using less fuel to go back and forth.
Also if by chance they have to use shipping services to transport material from one
location to another, Walmart will give them so much business that they will get
huge discounts.
Prepared By Dharmik
We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of sixty eight slides. Our tailor made Merchandise Management PowerpPoint Presentation Slides editable deck assists planners to segment and expound the topic with brevity. The advantageous slides on Merchandise Management PowerPoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
Whether you’re still fulfilling orders from your garage, are ready to try Amazon FBA, or are organizing supply chains from an overseas warehouse to your customer’s font door, we’ll explore the most efficient and most up-to-date techniques for managing fulfillment. In this session we will discuss the pros and cons of a variety of available options, including self-fulfillment using standard carriers, distribution warehouses, 3rd party fulfillment centers, Amazon FBA, and international consolidators.
MivaCon 2016, Thursday session 3.
Apparel retail software sap business one with i vend retailBSD SOLUTIONS
Retailers in the Specialty Apparel Retail face an arduous challenge to keep pace with competition they face from the larger mass market retail counterparts who offer wider selection options and extremely competitive prices.
iVend Retail, iVend POS, Phần mềm bán hàng, phần mềm bán lẻ, giải pháp bán lẻ, Giải pháp siêu thị, iVend Solutions in Vietnam, iVend Retail in Vietnam, iVend Retail Vietnam, iVend POS Vietnam, iVend POS in Vietnam, BSD, BSD INSIGHT, BSD SOLUTIONS, iVend Mobile, iVend Mobile POS, iVend Analysis
5 inventory reduction strategies for a more profitable businessSalesBabuCRM
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
Walmart* have done tremendous work on supply chain management. One of the
keys to Walmart’s effective logistical system is the flexibility that it has when
choosing suppliers.
When Walmart negotiates with suppliers and the suppliers know that Wal-Mart
will only pay the most competitive prices. This is because it is very easy for them
to find another supplier of that particular material with a lower price and very few
logistical problems
Another reason that Walmart's prices are so competitive is because they buy in
such large quantities that transportation from one end of the supply chain to
another is not as costly for additional units. Here they focus on bulk and get profit
out of it
This aspect of the logistical system does not come from skill or expertise it simply
comes from the sheer size of the company, but this is still a factor.
Walmart buys so many supplies from different places throughout the world, that
they have the luxury of using bigger trucks and using less fuel to go back and forth.
Also if by chance they have to use shipping services to transport material from one
location to another, Walmart will give them so much business that they will get
huge discounts.
Prepared By Dharmik
We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of sixty eight slides. Our tailor made Merchandise Management PowerpPoint Presentation Slides editable deck assists planners to segment and expound the topic with brevity. The advantageous slides on Merchandise Management PowerPoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field.
Whether you’re still fulfilling orders from your garage, are ready to try Amazon FBA, or are organizing supply chains from an overseas warehouse to your customer’s font door, we’ll explore the most efficient and most up-to-date techniques for managing fulfillment. In this session we will discuss the pros and cons of a variety of available options, including self-fulfillment using standard carriers, distribution warehouses, 3rd party fulfillment centers, Amazon FBA, and international consolidators.
MivaCon 2016, Thursday session 3.
Apparel retail software sap business one with i vend retailBSD SOLUTIONS
Retailers in the Specialty Apparel Retail face an arduous challenge to keep pace with competition they face from the larger mass market retail counterparts who offer wider selection options and extremely competitive prices.
iVend Retail, iVend POS, Phần mềm bán hàng, phần mềm bán lẻ, giải pháp bán lẻ, Giải pháp siêu thị, iVend Solutions in Vietnam, iVend Retail in Vietnam, iVend Retail Vietnam, iVend POS Vietnam, iVend POS in Vietnam, BSD, BSD INSIGHT, BSD SOLUTIONS, iVend Mobile, iVend Mobile POS, iVend Analysis
5 inventory reduction strategies for a more profitable businessSalesBabuCRM
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and deliver accurate metrics for better demand forecasting.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
6 inventory control techniques for stock optimizationSalesBabuCRM
Inventory management is the process of tracking every stock which comes in and goes out of a warehouse starting from manufacturing till the final product delivery. There are many inventory management techniques and softwares which have many efficient ways of controlling our company’s stock and improving overall business revenue.
Logistics Management, BBA III Year Notes, Osmania UniversityBalasri Kamarapu
Inventory Management in Supply chain – Role and importance of inventory in SC, Inventory Policies, Inventory as an element of customer service, JIT, BBA Notes
EOQ-complete, Just in Time (JIT), Lead time analysis, Inventory models (detai...Srishti Bhardwaj
SIM Unit-3
Economic order quantity (EOQ)
Derivation of EOQ formula,
reasons to modify EOQ to suit to real life situations,
Just in time,
Lead-time analysis,
Effect of long lead-time on costs and profitability,
elements of lead-time,
inventory models:
safety stocks,
fixation of re-order level and
desired inventory level,
designing of Q and P models of inventory control.
Ppt top challenges in crm implementationSalesBabuCRM
CRM is specially designed to maintain a healthy relationship with the customers. The sales end is the one that enjoys most of the benefits of CRM software. CRM software acts as a hub to provide benefits to the various departments in a company such as the marketing team, sales team, and customer support teams.
Few reasons why your business must opt for a cloud-based CRM solution?SalesBabuCRM
The cloud-based CRM software can be accessed through a web browser. Using the software as a service model the CRM will be provided to the customers based on the cloud platform. Using the infrastructure as a service model the cloud CRM is installed directly on the cloud. In an on-premise method of installing the cloud-based software, it is directly installed on the company’s owned server.
CRM for Pharmaceutical Industry | SalesBabu CRMSalesBabuCRM
Pharmaceutical CRM is a robust tool which always focuses on basic requirements of a Pharmaceutical companies and their operational work pattern. CRM can manage & synchronize entire sales business along with the tracking of product awareness among doctors. Pharmaceutical CRM can reduce the complexity of product sampling with stockiest, chemists.
Reduce operational cost with inventory management systemSalesBabuCRM
SalesBabu Inventory on- Demand software, helps companies to automate inventory workflow on one platform without any manual data punching and additional system requirement & system cost. SalesBabu Inventory On- Demand allow companies to manage lucrative information on single platform.
Crm in manufacturing industry get closer to your customersSalesBabuCRM
SalesBabu CRM enables the companies to receive automatic reminders & prediction on customer demands related to that particular product in which you are serving to the customers. So that you can easily schedule the production floor work load against the most demanded product from your multi bucket.
What is an invoice definition, meaning and more SalesBabuCRM
An invoice is a commercial document that itemizes and records the transaction of products or services between the seller and the buyer. An invoice is known as a professional way of asking for money. If the goods or services were purchased on credit, the invoice specifies the terms of the deal and provides the information on the available payment.
Can your business survive without a proposal software SalesBabuCRM
With the Sales Quoting module (Business Quotation Maker) in SalesBabu CRM software, it empowers you to prepare an effective, professional quote for your customers’ consideration, complete with rich content and full technical specifications. It’s simple to add cross-sell and up-sell suggestions to maximize your potential sell-through.
What is Purchase Order? Definition, Meaning, Creation and PresentationSalesBabuCRM
A Purchase Order (PO) is a buyer generated document that authorizes the purchase transaction. When the purchase is accepted by the seller, it becomes a contract binding both parties.
CRM software can track all your customer contact details, list products and services they are interested in, record sales quotations and final sales order details and many more functionalities to help you manage your business.
What is invoice definition, meaning and more..SalesBabuCRM
An invoice is a commercial document that itemizes and records the transaction of products or services between the seller and the buyer. An invoice is known as a professional way of asking for money. If the goods or services were purchased on credit, the invoice specifies the terms of the deal and provides the information on the available payment.
Online crm for sales & distributionSalesBabuCRM
SalesBabu CRM for Sales & Distribution can create an effective communication bridge and control communication Gap between Primary and Secondary root of your Sales Tree. Now it is so easy to retain, manage and increase your sales in terms of Channels and End product users rather than Traditional approach.
Switch from old traditional ways to new one to improve salesSalesBabuCRM
Are you struggling for more sales? Sales is one of those challenging tasks at business as you need to focus on systematic sales rather than sounding too salesy. And we are in an era where technology has acquired a major role in the market or society.
Improve your productivity for overall improvement of organisationSalesBabuCRM
Providing the right tool at the right time can do wonders for your organisation. Put your energy and efforts in the right direction to take your productivity to the next level. Cloud Based CRM software helps you to make your work easier and keeps you updated about sales orders, new opportunities, sales calls, meetings and appointments etc.
How to become the better customers resourceSalesBabuCRM
Customers are important for every organization. Customer satisfaction increase your long term relations. Loyal customers are familiar with your company and brands. Feedback is also important for every company to know where they need to improve.
Improve your productivity for overall improvement of organisationSalesBabuCRM
Providing the right tool at the right time can do wonders for your organisation. Put your energy and efforts in the right direction to take your productivity to the next level. Cloud Based CRM software helps you to make your work easier and keeps you updated about sales orders, new opportunities, sales calls, meetings and appointments etc.
Sales have never been easy without sales tracking appSalesBabuCRM
SalesBabu CRM is one of the most trusted Sales Tracking CRM Software that facilitates you to have a clear vision of Sales Pipeline, Nurtured Leads and Qualified Prospects. You can have information on fingertips to use anywhere anytime about what is going on in your Sales Processes.
How to protect your small business from cyber attackSalesBabuCRM
Cyber attack can cause major damage to your business and affect the entire management of the business level. Firstly, you need to take measures to protect your business data irrespective of the size of your organisation. Unfortunately, if you are prone to cyber attack follow these measures..
Data privacy how do you protect and delete data in the cloudSalesBabuCRM
The first step for data protection is to make sure that individuals and businesses outside of your organization can’t get access to your customer data. In today’s world, we have the option of keeping our CRM customer data in the cloud. With the level of security in a cloud based CRM solution, all your customer data is well secured and backed up using these cloud based security measures.
Create sales quotes faster and easily streamline your sales cycle and increase deal velocity with our CRM quotation software for small and large businesses. SalesBabu CRM Quote Software System combines both an intuitive user experience with an extensible platform serving the needs of businesses of all sizes.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
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Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
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Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
2. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
Inventory reduction is one of the most pressing issues for many manufacturing companies. Holding a lot of
inventory in warehouses is the major reason of reduction in working capital for an organization and most of the
times the main cause of huge losses for the businesses.
Many companies in today’s working model, hold extra inventory as safety stock to drift away from emergency
situations where delay in product delivery can cause huge business losses. But if these safety stocks are not
stored in a calculated manner, it ends as huge inventory backlogs which creates useless and outdated stock up
in the warehouse. Due to these outdated items in stock, companies have to either sell them in promotional offers
or discard them completely. In both the cases, organisations end up incurring huge losses due to these excess
inventory storage and wasting their working capital on something completely useless in business revenue cycle.
3. Contact Us: M: +91 9611 171 345
Reason for high Inventory levels?
Website: www.salesbabu.com Email: sales@salesbabu.com
There are many companies which support the concept of excess inventory and the uses of it in emergency
situations but in most cases, higher inventory levels are major reasons for incurring losses for
organizations. Let’s understand some of the reasons for the high level of inventory in warehouses and the
disadvantages of having them.
Increase in lead time
Many companies face this issue of delayed raw material delivery from suppliers due to numerous reasons,
which causes organisations to store excess inventory as safety stock to unblock them from these supplier
delivery issues. These delays not only increases the transportation and overall inventory holding cost but
also cause many product delivery issues to the end users. These daytoday issues in increased lead time
cause distressed customers and bad client experience.
4. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
Variation in demand supply chain
With cheaper products available online and foriegn inroads of new product varieties, many manufacturing
companies face a huge variation in demand supply chain for usual stocks. In most of the cases, many
ordered stocks remain unsold due to other competitive products in the market and lower rates on
international websites. In the longer run, these unsold products either remain stocked up in the warehouses
or gets sold on promotional rate, which in either case is a loss for the organization capital inflow.
Improper Inventory forecasting
Demand forecasting is a very critical part of inventory planning. If done inefficiency can cause a lot of
un-demanded stocks to be ordered repetitively from the suppliers which end up being unsold and queued
up in the warehouses. Futuristic view on the various product requirements is very important to maintain a
proper balance in our demand supply chain.
5. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
Changing customer trends
With new options in hand, customers tend to order different variety of products through various vendors
and organizations to understand their customer support and business model. These varied customer
trends are difficult to understand and predict in the long run of supply chain cycle. Hence, today’s
organization either stick with old customers and try giving 100% productive results to avoid customer
attrition or try to gain new customers who have a stable shopping trend in past, so that their shopping
behaviour can be correctly understood and relative inventory can be ordered as per their demand
requirements.
6. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
Returned and damaged product delivery.
Major disadvantage of flexible demand and supply chain is that usually many customers return their goods
due to various reasons. Some customers simply reject the whole batch of products if the shipment is
delayed by some hours or due to some minor misunderstanding. These returned and dangling products
which are specifically made for any organisation remain in the warehouse as excess stocks as these
cannot be sold to open market due to policy restrictions and other legal obligations. These old and unused
stocks cost a bounty to the production company and can cause major reason for loss.
7. Contact Us: M: +91 9611 171 345
Benefits of Inventory Reductions
Website: www.salesbabu.com Email: sales@salesbabu.com
There are numerous advantages of inventory reduction, some of them are listed below:-
■ Lower Costs
■ Less working capital tied up in inventory.
■ Lesser investment in warehouse spaces.
■ Lower insurance costs as the risk factor is reduced.
■ Less wastage cost due to expired or out-of-date products.
■ Less Labor
■ Reduced labor for inventory tracking.
■ Less labor for warehouse maintenance and upkeep.
■ Security requirement reduced due to smaller warehouses.
■ Improved Quality
■ With a consistent amount of raw material requirement, quality and maintenance of final products
is improved.
■ Wastage and damage due to expiry is reduced, hence customers get fresh stock items.
8. Contact Us: M: +91 9611 171 345
Strategies for Inventory reduction
Website: www.salesbabu.com Email: sales@salesbabu.com
1. Inventory Auditing
Many companies follow once a year auditing strategy which results in the end of year analysis of the
maintenance and stock counting results. Usually most of the products get reordered continuously without any
regular audit. These repetitive ordering results into overstocking of out of demand and outdated products.
Regular period of inventory auditing and routine checkup of the inventory helps in understanding the
requirements of reordering of the products. Once the auditing system is in place, organisations find it very easy
to maintain their products with a systematic process and can avoid any excess stock cluttering.
9. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
2. Enhanced Demand forecasting
Demand forecasting is a challenging component within a demand supply chain. Considering we live in a
technology rich world, where every second a new technology and product is avaiable for customers,
understanding every product demand in the market is very important to have a sustainable business model.
Consistent analysis and systematic view of product demand trends help organisations to understand the
current requirements of a product, based on which the reordering process can be maintained for inventory
management.
Various demand forecasting methods can be implemented as per the requirement of a particular
manufacturing sector, which can help in striking a balance between sales and demand of its product.
Automated features of SalesBabuCRM inventory management software helps in forecasting the demand of
various products through metrics which will let you know when you’re low on stock, your best-selling items,
your worst-selling items, and trends in demand. This helps in better inventory planning and reordering of
your stocks and maintaining an adequate amount of inventory in your warehouses.
10. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
3. Just in time Inventory system
Just-in-time inventory (JIT) management is an inventory management strategy where organizations store
almost no extra inventory in their warehouses, instead, order everything they need for manufacturing their
products at the realtime and exhaust them at the end of the production cycle.
This process of just-in-time inventory management, considerably reduce the cost of inventory storage but is
not easily implementable for every business model.
Just in time inventory management is very useful for retail business where the stock have a real time outflow
and suppliers are ready to provide multiple time delivery.
11. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
4. Reduce Lead time
Lead time reduction is the process of reducing the time for raw material and other purchase delivery. The
shorter the lead time is , the better the inventory planning can be done.
Lead time reduction helps in inventory cost reduction in following ways:
■ It allows you to keep less safety stock inventory – With consistent delivery cycle, less obsolete stock
needs to be stored for future requirement.
■ It allows you to order less stock more frequently – When the delivery cycle is consistent, firms can
order less stock at the time and reduce the cost of inventory storage.
12. Contact Us: M: +91 9611 171 345
Website: www.salesbabu.com Email: sales@salesbabu.com
5. Get Rid of Obsolete Stock
Many companies prefer to store a huge pile of stocked up products due to various reasons like precautionary
inventory planning, handling out of stock scenarios, keeping stocks for competitive market cases etc. In this
scenario, a lot of stocks gets collected and increases the maintenance cost of warehouse, insurance and
many other investments.
Traditional inventory management model, stack up a lot of outdated and out of demand products which have
no market value. These products often results in zero income scenario and incur huge losses for the
organizations.
Getting rid of obsolete stock in regular interval using product bundling to sell more of old stock or discounting
them individually on offers help to earn minimum returns on the old and outdated products.
Also, when this cluttered old stock is cleared up, you can invest and make room for fast-selling products and
earn better revenues for the organisation.
13. Contact Us: M: +91 9611 171 345
Conclusion
Website: www.salesbabu.com Email: sales@salesbabu.com
A cloud-based inventory management system like SalesBabuCRM is the best fit for any inventory tracking
tool. It can help you to know your reorder timelines, streamline your stock intake, reduce your lead time, and
deliver accurate metrics for better demand forecasting.
The better your inventory management tool is,the more profit you can make for your organization.
14. Contact Us: M: +91 9611 171 345
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Tel: +91 9611 171 345 ,
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E-mail: sales@salesbabu.com
Website: www.salesbabu.com
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