The relationship between sales and inventory management is an obvious one – you sell what you have in stock.
That is the fundamental link that can make a huge difference to revenue and sales and why it’s important that you use a system that connects your sales and data with your team that manages your inventory.
Why your stock needs to synergise with your sales
When Sales and Inventory Management are in sync, your business will enjoy:
- Less waste from expired perished or out of season stock reducing costs
- Fewer opportunities missed from having products out of stock or not enough inventory to meet demands
- Increased sales from sales team focusing on what is in stock
- Better customer relationships and opportunities for reorders and upgrades when account managers have easy access to information regarding products sold to their customers ie Sale Dates, Expiry Dates and Supplier of Materials/Products
How to bring sales CRM and inventory management together
It all sounds great but how exactly do you synchronise sales and CRM with your inventory management and procurement process?
Getting the information easily accessible to both teams at all times is essential.
Sales and CRM with inventory information
Enterpryze makes it easy with a sales dashboard and a CRM dashboard kitted out with a full range of visual reports.
All so you can never miss an opportunity in your pipeline and have full access to each customer’s purchase history to understand when they need to reorder.
Purchasing/procurement and stock count information for sales
Your sales team or sales manager having access to the Purchase Invoices logged and Purchase Requests allows them to see what stock is coming in and therefore what stock they can sell.
Similarly, stock count reports will show what’s available right now.
Sales information for inventory management and procurement team
We’ve discussed how your sales team benefit from having easy access to Inventory information – and the inverse is true too.
Your team that manages purchasing and inventory will see available stock in real-time in Enterpryze.
This means as your sales team create sales orders and sales invoices, your team will see the updated stock count and can make fast procurement decisions so your business is never out of stock and never misses an opportunity.
Storing stock for a period of time has a cost and even worse, storing perished and expired stock is all cost.
To avoid overstocking and stock going out of date in storage, you’ll need to understand your stock count and expiry dates and sell your stock in an optimal order.
With Enterpryze, you can trace product batches from suppliers to your storage locations and identify each batch’s expiry date and purchase date to understand your stock’s lifecycle.