Managing stocks properly is challenging and inventory management issues can become hard to overcome.
First single inventory issue is book stock not matching physical stock on warehouse floor.
In distribution business, stock keeping and tracking stock movements is crucial yet hard.
Expiring and damaged goods within warehouse or returned from customer can lead to losses, if not tracked properly.
Low inventory levels can lead to fully or partially unfulfilled demand.
Stock pilferage, damaged & expired stock losses, low fill rates are common in distribution business. These accumulate unnoticed over time and can lead to serious business problems.
Stock losses because of theft, spoilage, and damages can add up to a major indirect expense
Inventory management issues can eat away your margins and directly impact bottom line profits
Low fill rates because of unavailability of stock are simply missed revenue
Not optimising inventory levels can result in money stuck in slow-moving products
Having security cameras or keeping a watch may deter pilferage but those are of limited help in preventing inventory losses.
Excel sheets are too open for manual changes and mistakes.
You can get your inventory management in control easily with Distributo’s inventory management solution specially designed for Distribution businesses.
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Manage your payment collection, track receivables and outstanding, ensure cash collection, and reduce outstanding in your distribution business using automated software.
With specially designed Billing & Management Software for Textile-Yarn distributors and traders. Display catalogue, manage orders, and, track payment collections using Distributo Mobile App for a salesman.
As a new distributor, following certain good practices from the very beginning of your business can help you build the right culture and keep your work organized.