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Ferrum Technology Services Blog

Ferrum Technology Services has been serving the Elgin area since 2007, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Did You Know IT Can Help You Manage Inventory?

Did You Know IT Can Help You Manage Inventory?

Most businesses deal with some type of inventory control. Even if they work in professional services there are tools and resources that have to be inventoried and managed. Unfortunately, for many businesses, they haven’t yet changed the way they manage inventory, leading to a lot of time being allocated to the endeavor. This can actually get expensive. Let’s dive into what makes technology a major benefit for modern inventory management. 

New Inventory Tools Can Keep Your Customers Happy

One of the worst things for a small retailer is when they need to tell their would-be customers that they are out of stock in an item. This holds true for restaurants and all types of other businesses as well. Simply put, the more you are dealing with inventory deficits, the less apt customers are going to come to your business. That’s why sourcing and inventory management is so important. 

For other businesses, such as manufacturers, a blip in the supply chain can cause major problems for your business. For this reason these companies are always looking to improve their supply chain management processes, of which inventory management is a part. 

Today’s inventory management makes use of technologies that provide a fair amount of automation. This means that not only does the technology order new components or products, they keep track of the dates they are ordered, delivered, and other metrics necessary to keep business running effectively. What’s best is that most of these tools come with a dashboard interface that gives managers a visualization of the underlying data, making it much easier to view the data that is used to make decisions. These new systems also make use of IoT devices and barcodes/QR codes to add more simplicity into what can be a pretty complex system.

Additionally, the inventory management system makes decision making easier by recording all interaction and compiling reports that are not only easy to read, but also in depth enough to move the needle in business. 

If you are feeling like inventory management is a problem for your business, give the IT professionals at Ferrum Technology Services a call today at 847-697-3282. We can take you through your options and present cutting-edge business technology that can help your business be more efficient and effective.

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Monday, March 20 2023

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