Inventory is cash sitting on shelves. Manage it well and you free up capital; manage it poorly and you lose sales to stockouts or bleed money on overstock.
First, define reorder points for every SKU based on lead time and demand variability — not gut feel. Bizon's inventory module calculates these automatically from your sales history.
Second, centralize visibility across locations. When warehouse A is low but warehouse B has excess, transfer before you purchase. Multi-location dashboards make this obvious.
Third, cycle count regularly instead of one painful annual audit. Small, frequent counts catch discrepancies early and keep your data trustworthy.
Fourth, tie procurement to inventory alerts. When a SKU hits reorder level, generate a PO draft automatically. Approvers review and send — no manual monitoring.
Fifth, track dead stock and run promotions to clear it. Inventory turnover metrics in your analytics dashboard highlight slow movers before they become write-offs.
Sixth, integrate POS and eCommerce so online and in-store sales decrement the same stock pool. Channel conflicts are a top cause of overselling.
Seventh, review supplier performance quarterly. Late deliveries inflate safety stock needs. Procurement data in Bizon shows which vendors consistently miss deadlines.