You can have one location, or a dozen and one, but this terribly rhymed whiteboard wednesday makes multiple locations marginally fun.
Hi, I’m James, this is Whiteboard Wednesday, today we’re going to talk about Multiple Locations, but first…
I need a haircut. Look at it. Lot of gray. Okay.
Where was I? All over the place.
So let’s say that you have a couple warehouses, or maybe you manufacture in one place and you have a warehouse in another for distribution. Let’s talk about how that helps us.
If you have multiple locations, this could be in the same town, same state, all across the country—doesn’t matter—there’s some benefits to this.
We have additional TIME and SPEED on our side, because we can quickly respond to a customer’s orders because we’re all over the place.
That helps keep us a little more COMPETITIVE, and makes us presence for us in our field.
It also allows us to deal with more VOLUME, more VARIETY of products.
But most of all it really helps us spread wherever we need to, we can reach out and sell and distribute to whoever wants our product. And you can do that even just as one, but with more space, more volume, it typically can help with your competition.
But this also leads to a whole lot of DATA. A whole lot of information of what is going on in each one of these places that you need to be able to break down, and put to use and put to work for you.
So, how do we do that?
Well obviously we need to figure out some kind of software solution. If you’re trying to do all of this with just some pen and paper, spreadsheet thing-a-ma-jig, it’s really going to eat up your time, waste a lot of time.
So obviously we need a solution, but why is that? Well, let’s look at some of the advantages in dealing with multiple locations.
One is INVENTORY LEVELS, whether this is at one location or all of the locations. You need to be able to immediately respond and know what your levels are at, at each location, so that you know what you’re doing, what’s selling, what’s not selling, and make adjustments as necessary.
SHIPPING CARRIERS. By having complete integration, you can very quickly integrate with all of the main players, whether it’s UPS, FedEx, Postal Service, etc, so that you can distribute your product where they need to go, as fast as possible.
TRANSFERS. So let’s say that you have a location down here, and it’s running low on a particular item, but up here it’s really not selling and you have quite a bit. You can immediately make that transfer to down here, and all that information is stored in your software. Now you know where everything is going, and you can quickly put to use all the item you already have without having to spend additional time and money ordering that from somewhere else, from a vendor, whatever.
TRENDS. Whether at one location, or regionally, or across every space that you own and manage. You need to know what’s selling, what’s not selling, what’s seasonal, what is an overall shift in your market, or what is one particular item that is really starting to gain a lot of traction.
DYNAMIC. You need an automated solution that will immediately tell you what’s selling, what’s not selling, that isn’t going to tell you in two weeks we’re you’re at, but can tell you in that moment what your levels are at. So that, again, you can make the proper adjustments with your data.
And finally ACCOUNTING. When all these things are going on, it needs to be able to link-up with your accounting package. So you’re not taking the information, your data, and having to put it in some other program, type in some other solution. It needs to be able to join immediately, to dynamically update, so that you can see where you’re at, how every location is doing. If you need to make adjustments, you’re able to respond and not have to dig through all this data, not sort out what’s going on, but make an informed decision.
So remember, with multiple locations, there’s all these benefits to your business, and staying competitive, but it brings its own bit of problems that you need to address head on to put your data to work for you.
That’s this Whiteboard Wednesday, I’m James, and I really, I really need a haircut. Like, why did I even do this, it’s embarrassing.