Simplify Your Inventory Tracking: Challenges and Solutions

by | Jul 29, 2022 | Blog, Industry Insights

Simplify Your Inventory Tracking- Challenges and Solutions

It’s no secret that inventory tracking is essential for businesses of all sizes. Not only does it help keep track of what you have and when it needs to be replaced, but it can also help cut costs by streamlining the ordering process. However, when returns come back into the business, things can get a little messy. That’s where Elite EXTRA’s Returns Automation comes in to help streamline and organize the process.

What is Inventory Tracking?

Inventory tracking is the process of monitoring the items in your inventory, as well as when they need to be restocked or replaced. This can be done manually, but for businesses with large inventories, it’s often more efficient to use a computerized system. There are many different software programs available that can help with inventory tracking, and choosing the right one will depend on the needs of your business.

Why is Inventory Tracking Important?

This operation is important for businesses of all sizes because it helps to keep track of what you have in stock, as well as when items need to be restocked or replaced. Having a powerful system can save time and money, as you won’t have to waste resources searching for items that are out of stock. Additionally, by having an efficient inventory tracking system in place, you can avoid stock-outs, which can be costly for businesses.

How Elite EXTRA’s Returns Automation Helps Streamline Inventory Tracking

Elite EXTRA’s Returns Automation is software that helps businesses streamline their returns. By creating systems to track inventory as it is shipped back to the business and implementing efficient processes to refund and restock the product, Elite EXTRA helps company save money. Their streamlined process manages returned inventory and track the process.

Some General Tips for Keeping Your Inventory in Check

In addition to using software like Elite EXTRA’s Returns Automation, there are some other things you can do to keep your inventory in check. They are:

  • Creating an inventory management plan: This should include things like what needs to be tracked, how often it needs to be checked, and who is responsible for keeping track of it.
  • Keeping your inventory organized: This can be done by labeling everything in your inventory, as well as keeping a running list of what you have in stock.
  • Regularly checking your inventory: This should be done at least once a week, but more often if you have a larger inventory.
  • Tracking your inventory levels: This can be done by keeping a running tally of what you have in stock, as well as what needs to be restocked.

By following these tips, you can be sure that your inventory is always in check. Contact us at Elite EXTRA if you need help streamlining your returns! We’re always here to help!

Sources

https://www.ibm.com/topics/inventory-management

https://www.netsuite.com/portal/resource/articles/inventory-management/inventory-management-challenges.shtml

https://www.netsuite.com/portal/resource/articles/inventory-management/inventory-management.shtml

Susan Marcott

Susan Marcott

Author

Susan is the Executive Vice President, Chief People and Project Officer, and all-around master of everything at Elite EXTRA. Susan enjoys spending time with her two daughters and relaxing with wine - a lot. Susan had dreams of becoming a famous journalist like Lois Lane but instead uses her Super Organized superpower to help keep everyone on task and in line.

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