Physical inventory counts are a necessary evil for just about any company that manufactures, distributes or sells products. They’re critical to a business understanding and managing its inventory position and creating accurate financial statements. But that doesn’t mean your physical counts need to be as time-consuming and painful as they are today.
Companies that ditch the pen and paper for inventory and warehouse management systems (WMS) can expect to vastly improve those numbers. With a better understanding of inventory and how it’s allocated, businesses can:
- Confidently rely on a demand-based production model
- Keep less inventory on hand
- Decrease overhead costs associated with storage