A versatile inventory management software can improve workflows in any industry that relies on inventory management, by centralizing data to a hub accessible on most modern devices, eliminating the costs and inaccuracies of manual data-tracking methods. In construction and trade businesses, an inventory software system can improve workflows, by tracking equipment data, deliveries, maintenance records, and more in real-time.
These benefits directly improve the customer experience by improving how businesses manage customer expectations, track work progress, order supplies, and assign tasks. An inventory software system allows businesses to update customers with confidence while finishing jobs more efficiently.
What is an inventory management software?
An inventory software system is a program that businesses can implement to streamline workflows with real-time visibility, which enables data-driven decision-making. For many businesses that store and sell products from warehouses, this software is primarily used to optimize inventory levels and track orders. For construction and trade businesses, the system can do that and more.
A robust inventory software system centralizes how inventory is managed, from the real-time visibility of deliveries to the automatic barcode scanning that ensures an accurate count of equipment and its location. You can even assign “location groups” to several worksites, including service vehicles, and make decisions for the group or each site individually.
The data collected by inventory software systems includes purchase dates, asset costs, barcode records, equipment condition, site location, maintenance history, and insurance/warranty information. Having all this information centralized in one accessible system allows the managers of construction businesses and on-site service technicians to make informed decisions that save time and labor on manual inventory management procedures.
Being able to accurately gauge when repair parts will be made available helps to mitigate jobsite challenges and delays, and it allows for more accurate job-completion estimates. When a technician knows if a particular part is available on the truck or back at the warehouse, proper customer expectations can be set, paving the way for a better customer experience.
How does inventory management software improve the customer experience?
Data shows that 80% of business leaders plan to increase their investment in the customer experience in the coming year. The need for improved customer relations is in the numbers, but many business owners wonder how to create one without radical changes to their infrastructure or workflow. Inventory management software allows businesses to expedite decision-making, increase organization, and improve their workflow without changing how their business operates on a basic level. This software works within a business’s procedures rather than on top of them.
Though order fulfillment is not as significant in the construction industry compared to retail, preventing stock-outs on important job materials and efficiently managing the condition and location of equipment improves a business’s ability to meet customer expectations. For example, you can use an inventory software system to automatically set reorder alerts when the supply of materials reaches a certain level.
Additionally, you can save labor by eliminating manual data-tracking methods, reducing storage costs and freeing employees to work on higher-level tasks. When you speak to a customer about job expectations, the real-time data provided by your system will provide a more accurate assessment than manual methods ever could.
By more accurately setting expectations, more efficiently delivering data-based updates to job progress, and enabling more fine-tuning of the business’s workflow, inventory software systems provide construction businesses with the tools they need to stay ahead of their competition in an increasingly automated and data-reliant industry.
If you are interested in learning how Fishbowl’s flexible inventory management solution can help your business now, you can book a demo.