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Managing inventory is very critical for businesses that sell products. Salesforce Inventory Management Apps allow you to manage your operations more efficiently by tracking inventory levels, estimate reorders quantities, and gather insights on growth opportunities and warehouse utilization rates.
When your business starts to grow, managing inventory will become one of the biggest challenges. Salesforce Inventory Management App helps make your operations more efficient and manageable.
Having an Inventory Management tool saves you more time and money in the long run because it eliminates the risk of human error by automating crucial processes.
Over-selling is a selling challenge that you can prevent. You’ll be able to synchronize your orders and inventory so you can ensure that stock levels are good before making a sale.
Reduce expenses with better supplier management relationships while eliminating poor inventory management, which leads to added costs associated with human errors. You will have a shorter supplier lead time, reduce obsolete products, and more.
Balancing your stock inventory is a challenge, but you can prevent ordering too little or too much with inventory projections that will benefit your business. It keeps your customers happy, efficient use of your warehouse space, and removes the potential loss of sales.
With inventory management tools, you will have better potential negotiations with your suppliers. This will better equip you with information that can backup your deals and better inventory trend visibility.
You will need to understand the different types of inventory management solutions before choosing one. Primarily, there are two types of inventory management systems. Check if one or a combination of both is more advantageous for you:
Update your inventory in real-time as soon as a transaction occurs. This will allow you to see when a product reaches your minimum level so you can do instant reordering.
Update your inventory levels daily. It requires an employee workforce to update the system but is pretty much more accessible to set up. This type of software is usually perfect for businesses with only one sales channel.
When choosing the perfect Salesforce Inventory Management App, you need to pick one that offers most of what you need for your inventory operations. We’ve listed down a few:
Categorize your products based on different attributes. Your employees can segment products from item types and price ranges. You will also be able to see a visualization of your sales trends.
Generate reports about your inventory analytics and customize it based on sales per category, real-time stock levels, operational costs, revenues, and more. This data will help you create more sound decisions.
Manage your purchases from new stocks to repeat orders. Some apps will let you automate purchase orders when it reaches below the critical level.
Manage sales from different sales channels. Once an order is placed, it immediately updates all the channels to be visible to everyone.
On average, Salesforce Inventory Management Apps are priced around $ 60 to $ 130 per user and per month in the Salesforce AppExchange. You can find free apps also.
Inventory optimization will drive demand for machine learning algorithms. These algorithms can help you visualize demand trends and provide insights into your order quantity. This technology will become a vital part of inventory management solutions for the coming years with that in mind.
Advanced sales forecasting can also help boost sales. Inventory management solutions can provide the most relevant recommendations to offer your customers a more personalized experience. This functionality can help analyze purchase trends which makes it a primary feature by 2022.