(877) 519-4537 info@arkware.com

Retail businesses large and small benefit from well-organized inventory databases. This type of database holds crucial information about a business’ inventory, such as what the products are, how many quantities are in stock and their supplier. By using an inventory database, you can improve time and efficiency in your warehouse and provide a better service to customers. 

Here are four ways that inventory databases benefit retail businesses

1. Control inventory in real-time.

It’s important to know what products you have in stock at any given time. Otherwise, you run the risk of ordering too much or not ordering enough. With an inventory database, you will have an accurate, up-to-date picture of your stock levels. You can order the right products to keep customers happy without overstocking. Overstocked products take up floor space and eat into your profits. 

2. Spot future trends.

With an accurate retail inventory database, you can identify trends and forecast future customer demands. This allows you to plan for weekly or monthly spend, which is especially important during peak seasons. And, if you are planning on running a sale or promotion, you can use your historical data to ensure you have enough stock to meet the increased demand. 

3. Automate tedious tasks. 

Another benefit to inventory databases is that they automate time-consuming tasks. For example, rather than having your employees running back to check the stockroom, they can pull up what they need on the database. This saves time and allows them to help more customers on the floor and by phone, leading to greater customer satisfaction. 

4. Improve order and delivery process. 

When you have accurate, up-to-date information on your inventory, it’s easy to make smart decisions for order and delivery. You can group together certain products for bulk pricing and free shipping. For products that aren’t needed right away, you can opt for a slower delivery time to save money. If you do need the products right away, you can find a supplier that meets these needs. 

Databases are smart management tools that allow businesses to make strategic decisions to grow their brand. To ensure your database is well-built and provides you with accurate, reliable data that can be used in real-time, contact Arkware today.