Guesswork and overstocking
For retailers in the jewellery and watch industry, stock control is one vital factor for any business owner. When you’re in control of your stock, business operations run smoothly, back stock levels are efficient, customers will receive better customer service, and importantly stock values and profit margins are clear. It can also help scale a business.
A system has many benefits, including visibility of all products in stock, whether physical, in-store or cloud-based and showing items sold. The more comprehensive the system, the larger the overview, and the greater the benefits are for maximum efficiency.
Overstocking ties up business capital that could be used in other company areas. A good system will decrease costs associated with holding stock with the business by having full knowledge of all items in the company, including inventory, order management and stock value. It is also a valuable tool in ascertaining best sellers, slow movers and dead stock providing optimum efficiency in re-ordering. It also prevents potential theft, making it harder to misplace or lose stock.
Jewel Master takes away the guesswork giving the company realistic reports; stock can be re-ordered based on accurate historical data. It will identify errors and misplaced items where manually updating spreadsheets are open to human error and can be a long process that can be unreliable.
To find out how Jewel Master can streamline day-to-day processes in your business, click here