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Master inventory management with a cloud-based system

Take control of your inventory to meet customer demand with fast, accurate order fulfilment. Improve your workflow and reduce overheads with our cloud inventory management software.

Determining the correct inventory levels

Poor inventory management can lead to loss of sales and escalating costs for businesses.

Not having enough inventory results in stock-outs, where companies are unable to meet consumer demand can and potentially lose sales to competitors. Not only does your business risk losing loyal customers and its reputation, but this can have a disastrous effect on cash flow.

On the other hand, carrying too much stock can also land a business in financial issues. When you take into account warehousing, insurance, shrinkage, depreciation and asset taxes - the costs of excess inventory start to mount up. The money tied up in unsold inventory is unavailable for other purposes, affecting cash flow.

 

How to improve inventory management

Here are five things you can work on right away that will improve your inventory management, whether your business is small or medium.

1. Evaluating inventory strategies

Before implementing cloud-based inventory management software, it’s a good idea to gain an understanding of your current inventory systems. Evaluate the efficiency of your current inventory management process to highlight areas that need improvement.

2. Stock takes

A key step in accurate inventory control is tracking how much stock you have. Simply checking bought and sold figures is not accurate, as inventory can be lost, stolen or damaged in transit or in the warehouse. Performing routine stock reviews is essential.

3. Stock replenishment

Having a system in place to replenish your inventory once stock falls below a certain number ensures that you won't be faced with stock-outs. By efficiently managing the replenishment process, you can avoid having a lapse in product availability between the time you order and receive the shipment.

4. Customer behaviour

By tracking how often you restock certain items, you can identify any trends or patterns in consumer behaviour, including higher seasonal demand or quieter periods. By gaining an overview of customer demand, you can better plan and manage stock levels.

5. Just-in-time inventory management

Just-in-time (or JIT) inventory management is a strategy that includes only stocking products as they are required for sale. This reduces warehousing costs and product loss due to expiration. A JIT inventory system relies heavily on its supply chain and can come into issues if there are delays or if a large unexpected order comes in.

 

How cloud inventory management software can help

Taking charge of your inventory is key to growing your business. Because our cloud based inventory software is online, all key departments can collaborate, including productionbillingcustomer service and distribution. With easily accessible data, decision-makers can drive forecasting and automate key functions.

By implementing inventory management software, businesses can benefit from the following features and more.

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Cut costs

Take charge of your expenditure and reduce unnecessary overheads for a more profitable business. Our inventory software includes integrated accounting functions, giving an overview of finances.
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Get inventory right the first time

Accurate data allows you to make better decisions about what to stock, competitive price points and which items to discontinue, with batch and serial traceability.
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Take charge of purchasing

Automate your purchasing process, including replenishment for accurate inventory levels. Our system stores records of all purchase orders and critical data, so you can make more informed decisions.

Find the right inventory solution

We offer a faster and more flexible way to manage your business at a lower cost, including accounting and inventory software. See how our programmes can benefit your organisation.

Sage 200 Evolution

Gain full control with smart, cost-effective software

  • Configure and customise Sage 200 Evolution with optional modules for different industries to suit business needs
  • Gain even more control with full inventory management including batch and serial traceability and replenishment
  • Gain better visibility with connected CRM
  • Build and access powerful data insights on the go, in the familiar environment of Excel
  • Reduce complexities with bank feeds
  • Use business intelligence and insights to propel your business forwards
Go to Sage 200 Evolution

Sage 300cloud

Sage 300cloud software can help prepare your business for growth. You'll love how easy it is to manage your accounting, inventory, operations, distribution, and more.

  • Gain a 360 degree view of  your entire operation by a single, integrated solution
  • Strengthen vendor relationships and streamline purchasing. Process and track domestic and international orders
  • Manage multiple companies and currencies
  • Automate your finances with simplified monthly reconciliations
  • Simplify your inventory by shipping orders on time, from multiple locations
  • Optimise operations and distribution processes to eliminate waste and deliver on time—every time
Go to Sage 300cloud
Sage Business Cloud

Sage X3

Take control of your entire business, from supply chain to sales with Sage Business Cloud X3

  • A single solution for managing your core business processes including inventory, sales, customer service, finance and workflow
  • Collaborate across divisions, countries, multiple sites, languages and legislations
  • Manage financial operations with general ledger, cost accounting and budgeting
  • Control procurement, cash flow and business purchases
  • Get 360 degree view of customers across sales, marketing, customer service and support
  • Ideal for manufacturing, wholesale distribution and service processes businesses
Go to Sage X3

What can cloud inventory management software do?

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Delight your customers

Keep your customers coming back time and time again. Fulfil orders quickly and accurately by having instant insight into stock levels, shipping information and more.


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Get paid faster

Processing orders faster means you can get paid without delay. Our software also keeps on top of purchase orders and invoices by automating key processes. Spend less time chasing payments and more time growing your business.
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Maximise profit margins

Analyse live sales and inventory data to produce forecasts and manage your inventory with ease. By streamlining your inventory process, you can fulfil more orders, minimise stock-outs, and get the maximum value from your inventory.
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Improve efficiency

Accurate forecasting and automation of admin heavy inventory management tasks frees up time and working capital, so that you can focus on other areas of the business.

Get advice on managing inventory and supply chain

Read our articles, guides, expert tips and more.

Guide to inventory management and stock control

Guide to inventory management and stock control

Effective stock management can contribute to healthy profit. Learn about stock management, stock control, and the different types of inventory.

Read More Read More

An integrated solution to manage your entire organisation

Take control of every area of your business with Sage X3.
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