How Does an Automated Inventory Management System Help Businesses?

Managing inventory for any business is difficult, but automating it can make it much more manageable. Automated inventory management is essential to business success as the marketplace grows and retailers launch long product lines regularly. 

An automated inventory management system is a system used by retailers, businesses, and even marketers to track inventory processes. Retail businesses, and even marketers, use an automated inventory management system to track inventory processes. These systems are common in big companies as they need digital assistance with their significant operations.

There are many benefits to using automated inventory management. These benefits affect not only your inventory processes but your entire company. Automated inventory management can help your sales teams to know what stock they have in store and what’s selling sufficiently. 

One, it can lessen your errors. 

These errors are from business processes and human errors. It means there are no entry errors—the inventory system senses data from the systems that handle inventory to keep things up-to-date for you. 

Next, it can save you time. 

You and your team can be completely freed up from a life in spreadsheets or manual documents. Because automated inventory management is in digital software, your data inputs can automatically sort out. In addition, it can make specific tasks and analytics possible that a human team would never have the time to convey, like deep reporting and individual sorting out of data. 

Of course, it can update your inventory on a real-time basis.

These systems can provide accurate real-time inventory counts of your stock. You can monitor the inventory without delay by providing real-time updates. As such, it can respond to shifts in supply and demand and prevent inventory stock out, especially during height periods. With this much data, you are more likely to disappoint consumers, especially in your most-selling products. Overall, it improves customer satisfaction and builds customer loyalty at the end of the day. 

SOLUM electronic shelf labels (ESL) can be the best tool for automated inventory management. Our Newton ESL has the following features that can help you start in your automated inventory management journey:
 

• It is easy to install on warehouse racks and retail shelves
• It looks like a paper shelf label, but it does more
• The information displayed on its screen can be digitally updated in real-time
• Its update speed is 10x faster than other brands’ ESL
• It has a fully graphic e-paper screen with a 7-page display
• It has two programmable buttons
• It has a 7-colored blinking LED for pick-by-light operations
• It has a battery that can last up to 10 years
• It has Location-based Services
• It has an NFC-Tapping capability
• It is dustproof, shockproof, and water-resistant

If you want to learn more about how our ESL can help you achieve automated inventory management, get in touch with us today, and let’s discuss your needs!