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Why inventory management is a must for print MIS success
Many print organizations have a difficult time coming to grips with inventory control. Managing stockpiles is not only a function of a good relationship between suppliers and their clients, but also the print organization and their customers.
Why do shop owners need inventory control?
Most printers provide their customers with specific services that revolve around the need for a steady and reliable inventory. Clients require visibility into their product reserves to understand how their supplies align with customer demand.
At the same time, paper inventory management can become an unwieldy practice when handled through manual processes. Supply numbers can rapidly grow out of date unless the print shop owner is willing to conduct self-audits on nearly a daily basis.
Especially when printers have strict deadlines to maintain, efficient inventory management is a must. A seemingly simple request can become complex if the work order's projected turnaround is very brief and a printer doesn't know whether they have the right materials or a certain number of products available. What happens when a print shop owner runs out of inventory? The client may lose out on sales, risk mismanaging a marketing campaign and interrupt their business objectives. For instance, Entrepreneur Magazine cited the experience of online pharmacy Village Green Apothecary, which routinely ran out of in-demand items. The result was an estimate 2 to 3-percent loss in sales, explained CEO Marc Isaacson. This scenario, and others like it, ultimately damages client relationships and the company overall.
How can printers increase customer satisfaction?
Inventory management software through a print MIS is one of the most effective solutions that shop owners can integrate to fortify their services. According to Small Business Chronicle, this type of software allows printers to create a customized database of product information that reflects their clients' needs. The most robust platforms will include an inventory tracking system that clearly indicates what vendors currently have on hand in real time.
Not only can inventory management software help businesses keep track of supplies, but it also provides detailed vendor records in a single, primary location. This way, it's easy to complete purchase orders and deliver them to the right vendor in minimal time and effort. The software helps reduce the number of touch points that vendors must come into contact with and reduces the likelihood of human errors. As a result, customers have accurate orders in the shortest time possible.
Additionally, business owners and vendors can be on the same page using an online portal. Print MIS software that includes an inventory management solution gives clients a clear view of their current inventory levels. They're can also establish minimum and maximum levels for times in reserve so that they can avoid having to rush work orders through in the event of increased demand. Vendors can also create customized orders through an online storefront. All of these features strengthen the relationship between print shop owners and their clients.
