The use of smartphones and tablets in inventory management gained even more traction during the COVID-19 pandemic as processes and shared spaces saw tighter regulations. The reason for the increased use of mobile technology in inventory management though is not isolated to pandemic restrictions. Mobile technology has proven highly efficient for barcode scanning, stock replenishment, and order picking. With a faster entry rate, greater data accuracy, and increased ROI, mobile technology is making big waves across the massive inventory management space.
COMPANIES LIKE YOURS ARE USING MOBILE TECHNOLOGY TO IMPROVE BUSINESS OPERATIONS
Faster transaction entry: Mobile technology enables faster data capture for deliveries, purchase order receipt, and inventory tracking. The cycle count process is also improved with mobile technology. Cycle counts are notoriously reliant on manual processes that are time-consuming and laden with errors from keystroke mistakes to lost/unaccounted for paperwork. With mobile technology, the data collected is in real-time and the count is accurate.
Easier, more cost-effective training: Smartphones are more cost-effective than scanners and users are more familiar with smartphones and tablets, so their training is faster.
Increased productivity and better employee engagement: Faster data entry increases productivity and employees appreciate the investment in tools and technology to ease their processes. This investment in tools is attractive to most employees, so it boosts morale and productivity.
Bezlio is a platform that provides mobile apps to existing middle-market ERP systems, such as Epicor, to bridge both the mobility and integration gaps. Many companies rely on drop-in pre-built framework solutions for everything from material tracking to shipping solutions. App functionality refreshes your legacy backend systems and brings greater efficiencies as well. Optimizing your operations is essential to maximizing profits and utilizing mobile technology in inventory management is a quick way to boost profits and productivity.
COMPANIES THAT HAVE AN INVENTORY MANAGEMENT PROCESS HELPED BY MOBILE TECHNOLOGY HAVE SEEN GREATER PROFITABILITY
Field team support: Mobile technology gives field teams access to inventory data anywhere. When they are meeting with a customer and trying to define delivery expectations, they have access to real-time data that is more accurate than manually entered data because there are fewer errors. Field teams will be able to close deals off-site and ensure top-notch customer service and greater transparency. Accessing real-time data enables these remote teams to close deals offsite rather than the delay of going back to the office and relaying dated information.
Better Forecasting: Accurate inventory forecasting or demand planning is essential to maximizing profit. Many companies use historical data to identify trends and anomalies and then combine this information with upcoming events to estimate required inventory levels. Accurate forecasting is the only way to ensure there is enough product to fulfill customer orders without a lot of leftover inventory, which is costly. Mobile technology helps build more dynamic forecasting procedures that keep operating costs down while delivering a positive customer experience based on realistic timelines.
Improvement in Inventory Management capabilities = increase inventory accuracy: When you simplify cycle counts it results in more accurate forecasting, better inventory planning, and cost containment. Recording transactions like material movements, material to work orders, receiving purchase orders, and receiving finished goods into real-time inventory, your inventory is always up to date. Many companies enter these transactions later, which means their inventory is often incorrect. Using barcodes to record these transactions, speeds up the process and ensures better accuracy by removing keystroke errors.
ACCESSIBILITY BUILDS TRANSPARENCY
Advancements in mobile technology have made data accessible from anywhere and companies are taking advantage of this accessibility. The mobility that smartphones offer has made in-house inventory management processes more efficient and accurate. Mobile technology improves a company’s warehouse operations well beyond faster data entry and improved tracking. It has changed the way remote sales teams work, improved warehouse efficiency, and provides workers with an easy-to-use tool for more effective processes. Mobile technology improves a company’s supply chain visibility offering up-to-date information on inventory and details of inbound or outbound orders.
Contact us to learn more about how mobile technology solutions can impact your inventory management processes.