One of the biggest difficulties that small businesses struggle with as they grow is how to balance their inventory levels in multiple locations. Opening your second or third or hundredth location adds a new level of complexity that is simply nonexistent when you are only dealing with a single warehouse or store. Different areas have different customer bases and unique characteristics that make it impossible to try to fit the same strategy into all of them. Whether you are a retailer, manufacturer, or wholesaler, you need to effectively manage your supplies across multiple locations so that you can enjoy stable growth.
ADDING NEW LOCATIONS
Adding new locations means reaching new customers, but it also means you will be working with more products. Not necessarily more types of products, but definitely higher quantities of the products you already sell at your first location. This means that you will have to keep a close eye on inventory levels because you can’t be present at each location at the same time. You will have to trust that the workers at all of your locations have the tools they need to do their jobs. The logistics might seem overwhelming, but they do not have to be if you use inventory management software.
USING INVENTORY SOFTWARE
When you use inventory management software, multiple locations become much more manageable. Inventory software is a great tool for creating outlines of your warehouses and lists of parts and products contained in them in order to assign specific places on aisles and shelves for all of your products to be stored. These specifications help you to locate the parts and products you are looking for so you can get them to your customers fast. Nothing gets misplaced, and everything can be quickly found with the aid of a barcode scanner or other mobile device.
MANAGING MULTIPLE LOCATIONS
Another benefit of using inventory software for multiple locations is that it can help you to determine which locations have higher sales and which are less profitable. With this information, you can make smart decisions about where to put your inventory to maximize sales and improve customer service. If a certain product sells at a higher rate at one location than another, you can adjust the inventory levels so that you will only carry the specific ones that will be to that location’s benefit.
MAKING INVENTORY ADJUSTMENTS
Making inventory adjustments often includes transporting products from one place to another. Fishbowl has the right tools to help you do this. Fishbowl’s inventory software integrates with several shippers, such as FedEx, UPS, and United States Postal Service. With Fishbowl, you can organize your shipments by carrier and generate shipping labels and packing lists automatically.
OPPORTUNITIES FOR YOUR BUSINESS
Despite their challenges, multiple locations offer many opportunities for your business. If you use inventory software multiple locations will be easier to organize. Try using Fishbowl for all of your multi-location needs. It will help you to spot trends and opportunities that would probably otherwise have been overlooked.
Inventory software helps you manage multiple locations by allowing you to:
- Add new locations and sub-locations.
- Track part quantities and whereabouts.
- Optimize inventory levels at each location.
- Quickly ship and transfer goods between locations.