If you own or manage a business, you probably know how important it is to keep track of your inventory. Knowing your current stock levels and where each item is located will enable you to make better decisions about your business, such as when to reorder, how to identify bottlenecks, and how to plan ahead efficiently. However, keeping accurate inventory counts can take time and effort, especially for companies with limited staff and resources. This blog post will explore the benefits of outsourced inventory counts.
Although most businesses acknowledge that inventory management is a vital component of efficient operations, many struggle to achieve accurate counts. Instead, they are content with counting done internally by workers not trained for inventory counts.
Why you should outsource your inventory counts
Reduce time
Many businesses rely on their staff to conduct occasional inventory counts, while this is not a problem by itself, using your own employees does take more time. When you rely on your staff to conduct the counts, you use people who are experienced in other positions and sometimes have zero experience in inventory counts therefore it will take them longer to get the task done. Instead, you can rely on a team of inventory professionals who are trained and experienced in this exact area. After conducting so many counts in various businesses and industries, those professional teams can get the count done easily and as quickly as possible, using the best tactics and methods for the best outcomes.
Reducing costs
Outsourcing your inventory counts can be more cost-effective than having your own staff take those counts. As mentioned before, since the employees who do the counts are not trained for that it will require them longer and they will need more manpower to do this. All of which eventually cost the business a fortune. Not to mention human errors that lead to a lot of money being lost.
Reduce the risk of errors
Outsourcing your inventory counts can also help you reduce the risk of errors and inaccuracies. Even the most diligent staff members can make mistakes when counting inventory, especially if they are rushed or distracted, which they usually are. By working with a professional inventory count service, you can ensure your counts are accurate and reliable, which can help you avoid costly mistakes and ensure your business runs smoothly.
Improve accuracy
Another benefit of outsourcing your inventory counts is that you can gain valuable insights into your business. Inventory count services often provide detailed reports that show you exactly what you have in stock, where it is located, and how quickly it is selling. This can help you make informed decisions about ordering and restocking, as well as identify areas where you can improve efficiency and reduce waste.
Additionally, in some cases, employees will try to show better numbers than those in reality from the fear they will get in trouble or get suspected by management. So, for example, if the store was supposed to have 9 pieces of a certain item and the employee counted just 8 he might write that there are 9 to look better in front of management. Therefore, getting someone unbiased to count and provide the data is very important.
Help companies innovate their inventory management
Outsourcing inventory counts can assist your business in integrating technology into your supply chain. Inventory People is a leading company that provides a cutting-edge inventory management solution, designed to seamlessly manage your merchandise from start to finish in the supply chain. Offering a state-of-the-art RFID solution developed by Chainlane, which combines sophistication with user-friendly features. With this comprehensive platform, you can gain complete control over your inventory, ensuring efficient tracking and management at every stage of the supply chain.
Improve staff satisfaction
Many employees find inventory count as exhausting and draining task that they wish to avoid. In fact, retailers claim that inventory counts are the worst task in the retail industry. Hence, taking this task out of their hand can improve their satisfaction and allow them to focus on selling more and providing better customer service with a smile on their face.
In conclusion, outsourcing your inventory counts can bring numerous benefits to your business. By reducing time, saving money, decreasing potential errors, providing accurate data, and improving staff satisfaction, you can take your business to the next level. Working with professional inventory count services, like Inventory People, can give you the confidence and reliability you need to make informed decisions about your business. So, if you are looking to improve accuracy and reduce costs, outsourcing your inventory counts may be the right choice for you.
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