• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

In need of good inventory management software

Discussion in 'Product Creation, Inventing, Importing, Sourcing' started by GuestUser140, Jan 30, 2016.

  1. GuestUser140
    Offline

    GuestUser140 Guest

    Rep Bank:
    $
    Hi guys,

    We sell used consumer electronics amongst other things.

    I like simplicity.

    Until now, I've always used two Excel files:

    1. A general table with all the stock in it (with serial number, purchase price, date, ...)

    Only the columns "sale price", "sale date", "invoice number" and "customer name" are empty and need to be filed out when something is sold.

    2. A blank invoice template.

    When something is sold, I (or my employee) simply fills out the 4 empty fields in table 1. Takes no time.
    Then she copies the line of that specific item from table 1, and pastes it into the invoice.

    Print and done.

    Variation: save as PDF, upload to cloud, done.

    At the end of the month, we do a stock count.
    She scans the physical stock and emails me the barcodes. I check in table one whether all the empty fields correspond to a scanned barcode (=whether an item is indeed in stock). I do that manually. (About 100 barcodes which takes 15 min.)

    Am I doing too much work? Can it be done more efficient?


    Best,

    Michael
     
  2. Trivium iz rC
    Offline

    Trivium iz rC Bronze Contributor Speedway Pass

    Messages:
    119
    Likes Received:
    218
    Joined:
    Jan 23, 2014
    Gender:
    Male
    Rep Bank:
    $1,215
    I have a couple partnerships in ecommerce & we have a couple of warehouses. Checkout ShiperHero its a mobile WMS for ecommerce.

    Very happy with them the people who created the software are also E-commerce sellers so it works great.
     
  3. GuestUser140
    Offline

    GuestUser140 Guest

    Rep Bank:
    $
    Hey thanks for the reply, do you have a link? Google can't find it.

     
  4. Trivium iz rC
    Offline

    Trivium iz rC Bronze Contributor Speedway Pass

    Messages:
    119
    Likes Received:
    218
    Joined:
    Jan 23, 2014
    Gender:
    Male
    Rep Bank:
    $1,215
  5. Jon L
    Offline

    Jon L Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    851
    Likes Received:
    2,101
    Joined:
    Aug 22, 2015
    Gender:
    Male
    Location:
    Santa Maria, CA
    Rep Bank:
    $12,496
    My business is to automate stuff like this with custom software, so I know a little bit about this.

    If you're truly only spending this amount of time with your current system, and its working for you, don't complicate it with more software. Any other software you use will take more time than what you're spending now.

    When you get to the point where you're starting to have problems like the following, packaged or custom software is called for:

    *You're losing inventory
    *You're losing or messing-up orders
    *You're spending $1000's per month looking for orders or inventory or both
    *You don't have a good handle on what's happening in your business because your reports are unreliable, or they're too time consuming to produce.
     
    ilrein likes this.
  6. harryvent
    Offline

    harryvent New Contributor

    Messages:
    16
    Likes Received:
    3
    Joined:
    May 13, 2016
    Gender:
    Male
    Rep Bank:
    $32
    I have some experiences in inventory management, past year I worked in the warehouse my position is record all incoming and outgoing stock details. For inventory purpose they use Apptivo, I can easily manage all stock details without burden with help of this software.
     
  7. konflikted
    Offline

    konflikted New Contributor

    Messages:
    5
    Likes Received:
    1
    Joined:
    Dec 20, 2011
    Rep Bank:
    $29
    Michael,

    Your process seems easy enough at this point especially your "POS" process. You only need to ask yourself the following questions.

    1. Can your current process scale if you add 10x inventory or 5 more employees? <-- If so keep using it until you surpass this then ask the question again.
    2. How much time would it save you and your staff to "automate" your month end?
    a. To elaborate on question 2. If you used a non excel based system or customize your current excel based system you could have each Sale remove the product from inventory manually and could utilize either barcode readers or include QR codes to automate the update of your "Database" when your employee scans it making your part in the process much quicker/easier to accomplish as it would be reviewing a system generated report rather than manually keying in any updates.

    Currently your answers to the above will be your driving force to support an affirmative decision. If your process is K.I.S.S then keep it that way until for efficiency's sake you must make a change.

    TL/DR

    Yes you are doing too much but if it isn't hard and it works then it is relative and who cares.
    Yes it can be more efficient however, there is an upfront cost... Wait but don't wait until it is too late, make small efficiency improvements as time goes by. First step look into automating your month end process.


    I currently work for a company who's ME process has gone from 6 days to 3 and we are all happier for it.
     
  8. John BAkiko
    Offline

    John BAkiko PARKED

    Messages:
    3
    Likes Received:
    0
    Joined:
    Feb 1, 2017
    Gender:
    Male
    Location:
    Berehovo
    Rep Bank:
    $11
    That isn`t so much work, but, of course, it can be done a lot easier. There are lots of ERP`s with inventory functions over there which + can automatically create invoices for you and a big amount of them is free. Sure thing you can stick with such giants like Odoo, Stitchlabs or TradeGecko but those cost a lot. I have found for myself one called EasyERP, mainly because it is free and I have a small reselling business, so my budget is pretty tight.
    I, myself, was using Excell, but, as previous contributors said a little automatization won`t do a harm.
     
  9. Anjana Sahu
    Offline

    Anjana Sahu PARKED

    Messages:
    1
    Likes Received:
    0
    Joined:
    Jul 3, 2018
    Gender:
    Female
    Rep Bank:
    $1
    There are many good inventory management software available in the market. However you need to keep in mind that they all have different characteristics and that some will better suit the needs of large enterprises while others will be perfect for small organizations. So to help you make a good decision you need to know exactly what you want to be able to do with your software. Personally, I would recommend Optirise Inventory management software. I think their applications are better suited for small organizations, and they propose a complete service at a reasonable price. Besides, they all have great reviews from their users.

    The software enables its users to control the inventory process. For instance it tracks goods from order receipt to the delivery. It also updates automatically records in real time every time an item has been sold or ordered. The application generates sales and inventory reports to help its users understand where they performed well and where they didn’t.
    ...................................................................................................................

    Anjana Sahu

    Marketing Head

    91 804 123 5622
     

Share This Page