How Inventory Catalog Software Improves Your Product Management

By November 8, 2018Asset Tracking, Blog

How Inventory Catalog Software Improves Your Product ManagementTrying to manage a huge catalog of products can be overwhelming, no matter the size of your company. Inventory catalog software can help your company keep up with the continually changing marketplace. Your competitors are continually putting out new products to attract new audiences. If you can’t do the same, your company could be in big trouble.

To keep up, you need to manage your old, current, and upcoming products seamlessly. You can’t afford to waste hours each week keeping your inventory records up to date, only to have them change an hour after you’ve updated them. Instead, try using a dedicated program to make your inventory process more efficient.

Here are the various aspects of catalog management you can improve with the right software.

Remove Outdated Product Without Hassle

When your product starts to get outdated, you need to remove it from your inventory process. Relying on spreadsheets to try and track your product age is cumbersome. There’s no way to ensure the items you aren’t selling anymore are taken out of your stock room. Using a cloud-based software program to track your goods will not only make it easy to track but will remind you when you need to update your catalog.

Track the Status of Current Goods

Overall, the state of your current catalog is one of the most critical aspects of your company. These products are the moneymakers and fund the rest of your company. You need to know where a product is at any given time to fulfill customer orders. You’ll also need to see what you have on hand, so you don’t sell non-existent items. Tracking software also makes it easy to see which items aren’t performing well and need to be retired.

Plan How to Introduce New Product

A new product is a great way to update your brand and keep your customers coming back for more. However, trying to create new inventory records for each of your product lines can be monotonous and feel like a never-ending amount of work. Creating and storing record templates in your inventory software is a great way to save time and streamline your tracking process. Each entry will have all of the necessary information you need to create effective workflows.

Consult Your Inventory Catalog Software to Resolve Customer Issues

There’s no way around customer issues. Whether they mixed up some merchandise, or have a faulty item, you need to be prepared to help them resolve their problems. Inventory catalog software, like Asset Panda, will help you track customer purchases, and pull up relevant information long after the fact. Accessing all of this information in a centralized database makes it easy for you to fix their problem quickly and provide excellent customer service.

Trying to manually track process management is a waste of time. Unlike money, time is not a resource you can get back. Wasted time also translates to wasted employee wages, and often creates an unnecessary expense that your company has to account for somewhere. Keeping all of your inventory information on a centralized database will make it easy for each member of your team to know what’s happening in the catalog at any given moment. You’ll also avoid duplicate orders, running out of favorite stock, and spending money on goods that don’t sell.

 

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