Zenventory Offers Ways To Recession Proof Inventory Management
- Cash Is King – When times are hard, expenses are inevitable, and money is tight; it is time to develop a strategic plan to reduce expenses and keep the cash flowing. Below are three examples of how Zenventory.com will assist in cash flow management.
- Annual Consumption Value – Aging inventory can cause one of the biggest hurdles in cash flow. By performing a simple ABC analysis, you can quickly determine the annual consumption value of each product.
- Focus Marketing – through anABC analysis, the marketing team can focus the sales efforts on products that are profitable and quick movers.
- Distribution Optimization – Create a distribution network that is diverse and synergized with vendors. The shipping world of today is purely volume based and partnering with a trusted business is not a bad idea. Additionally, consider your shipping modes and packaging material by working with shipping cost specialist who drive results and costs saving. Global Parcel Service is an excellent choice and will provide personalize solutions for your supply chain the make “cents.”
- Inventory Management – The first step is to liquidate the stock with the lowest value and restrict purchasing abilities through Zenventory.com’s administrative tools. However, use caution not to disrupt the consumer buying habits: If a popular low profit item is generally orders in conjunction with another product, be sure to provide a equal alternative that provides the customer satisfaction and makes you profits.
- Vendor analysis – One of the many tools Zenventory.com provides is a vendor management tools which display economical order quantities for each vendor that may supply a particular SKU. Choose the vendor that provides the best price at the lowest quantity. When analyzing your vendors, don’t be afraid to think outside of the comfort zone and search and negotiate a lower cost.
- Focus on core competencies – Avoid processes that cause you to loose focus of your mission and value proposition to the customer. Creating spreadsheets with conditional formatting is a waste of your time and hiring someone to do it will only increase your labor costs. Zenventory.com makes inventory management easy and seamless. No more late hours mapping data to spreadsheet fields and adding conditional colors to analyze the health of your organization. Zenventory.com does all of this for you. It is a quick and simple step during the setup process. Remember, Zenventory is software as a service: Not a solution that requires a robust IT staff and 24/7 monitoring…again, we do all this for you.
Keep it simple, effortless, lean, and profitable. In other words, keep it ZEN.
