In a time when more and more customers order online it should come as no surprise that the world of technology is working to connect companies with consumers. Whether you are looking for a single pair of footed pajamas featuring adorable otters or you are looking for two dozen fleece lined leggings for your daughter’s college gymnastics team, inventory tracking software can help. In fact, the latest inventory tracking technology benefits both consumers and merchants.
Inventory and asset tracking solutions enable our digital society to order what we want whenever we want it. The fact that some of the largest retailers to do not have central warehouses for the inventory that they sell online mean that the inventory solutions that are in place need to be able to monitor specific inventory numbers in retail locations across the country so that all orders can be filled as efficiently and affordably as possible.
Inventory Tracking Solutions Are at the Heart of Many Successful Businesses of All Size
As more and more companies sell a high percentage of their good online, the cost of maintaining and moving inventory becomes even more important. In fact, because the cost of carrying inventory is usually about 27% less in an automated environment means that more and more companies are upgrading the software that they use.
Consider these facts and figures about the inventory tracking industry and the impact that it has on the nation’s economy:
- 67% of warehouse managers and owners indicate that they plan to use mobile devices to manage their inventory.
- For every $1 of sales they make, U.S. retailers are currently sitting on about $1.43 in inventory.
- Research indicates that a typical warehouse management systems can decrease mistakes by as much as 70%.
- 30 percent of the 600,000 warehouses in the US have a warehouse management system (WMS) process installed.
- Fewer than 30% of warehouses are efficient, according to ìBenchmarking Warehouse Performance reports.
- A WMS can potentially save 10% to 20% of transportation costs. This is good because these costs have slowly crept above 10% of the overall costs of every order.
If you are someone who orders items online or you are a business owner, you are part of the economy that relies on inventory tracking software solutions.
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