“The winner is the chef who takes the same ingredients as everyone else and produces the best results.”-Edward De Bono
According to the CMO council, “33% of marketers have no form of inventory management.” We mentioned this to our Inventory Manager, Jack Glacken III, and he was shocked. When asked his opinion about this statistic, he replied, “Content changes constantly, in all aspects of marketing. For financial [for example], you can’t be giving out marketing supplies containing mortgage rates from three years ago. [Marketing for Pharmaceutical as well], what if there is a new side effect to a medication?” These are all things that the people you are marketing to, need to be aware of.
Most companies order marketing materials in large quantities, allowing time-sensitive information on these marketing materials, to become outdated very quickly. While most companies strive to save funds by ordering marketing materials in larger quantities, they end up paying more for storage or destroy costs.
What if you could order less marketing materials, and also pay less for these smaller quantities? This is something we at TGI focus on, because we are a short run printing company, we offer competitive pricing. With our inventory management system, we have real-time reporting, and historical data tracking to see who ordered in various quantities. With our inventory automation, once the client’s inventory reaches its minimum quantity, an automated email will be sent notifying our client that it is time to order more inventory. This helps us and our clients stay on track of the inventory, saving time, money and all of the hassle of manually tracking down inventory.
TGI developed an efficient system for our fast pick area of the warehouse. Containing the most commonly ordered items from our clients, we have bins that allow for fast ordering and easy access to inventory on demand. Not only is this system quick and easy, it is also cost efficient for our clients. Materials go out quickly and consistently, and with our automated inventory system, the clients know when to reorder their items for the fast pick area.
Taking control of your Inventory is the key to developing a successful business. Now is the time to have more control of your marketing budgets. Put a stop to over-ordering, re-structuring your inventory management system can save thousands of dollars per year. Save time and money, developing a system that works best for your company. Re-evaluate your efforts. Inventory Management may be the key to increasing your sales, workflow and profitability.
TGI Tips for Inventory Control:
Here are some tips from Jack for running a successful Inventory Management system:
Real time reporting provides visibility:
- Who orders and uses inventory the most.
- How many items are processed and stored.
- Gauges the amount of inventory necessary for the client.
- Never lets you be out of stock
Tracking is vital:
- Know where the items are
- Know where the items are heading
- Know the status of the order
But the biggest tip of all, is to select the correct Inventory Management system that works best for your company.
When looking for the right Inventory Management software for your company, look for one that:
- is easy to use.
- is right for the amount of inventory that your company requires.
- has tracking and reporting capabilities
- has a system with inventory automation.
- will help your company save time and money