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As a supply chain entrepreneur, optimizing inventory management is major for maintaining efficiency and meeting customer demands. Averiware’s ERP Supply Chain Management (SCM) software offers a comprehensive solution to streamline your purchasing and inventory processes. This blog post will guide you on the importance of Averiware to automate procurement, better decision-making, and maintain optimal inventory levels. By implementing these actionable strategies, you can reduce costs, prevent stock-outs, and improve overall operational performance. See how Averiware can change the way you manage your inventory.

Streamlining Purchasing Processes

Averiware streamlines purchasing processes by automating purchase requests and other recurring procurement steps. This automation eliminates manual entry errors and reduces the time spent on routine tasks. With embedded controls and data-driven insights, businesses can shorten lead times and expedite procurement actions. This efficiency checks that inventory levels are optimized, preventing both overstocking and stock-outs.

Improving Decision Support

A key benefit of Averiware is its robust decision-support capabilities. The SCM module provides real-time data and analytics that help businesses make informed decisions regarding inventory management. By using historical data and predictive analytics, companies can forecast demand more accurately and adjust their inventory levels accordingly. This proactive approach minimizes the risk of excess inventory and ensures that products are available when customers need them.

Better Accuracy and Insight

Averiware helps accuracy through its integrated systems. The software provides comprehensive visibility into inventory levels, locations, and movements, allowing businesses to track their stock in real-time. This transparency helps identify discrepancies and rectify them promptly, ensuring that inventory records are always accurate. Perfect insight into inventory trends also enables businesses to identify slow-moving items and make strategic decisions to optimize their stock.

Reducing Inventory Costs

Excess inventory can tie up capital and incur storage costs, while stock-outs can lead to lost sales and diminished customer loyalty. Averiware helps businesses avoid these pitfalls by maintaining optimal inventory levels. Automated alerts for reorder points and excess stock confirm that inventory is managed efficiently, reducing holding costs and preventing stock-outs. By optimizing inventory management, businesses can improve their cash flow and allocate resources more effectively.

Warehouse management systems (WMS) are software applications that support the day-to-day operations in distribution centers and warehouses. By automating and optimizing key warehouse activities, WMS solutions enable companies to improve customer service while reducing inventory levels and operating costs. A comprehensive WMS will include modules to track inventory, manage labor, and optimize the receiving, putting away, picking, shipping, and returns processes. In addition, many WMS solutions now offer advanced features such as warehouse slotting, cross-docking, and transportation management system (TMS) integration. As the use of WMS solutions has become more widespread, the features and functionality of these systems have evolved to meet the needs of today’s complex supply chains.

The future of inventory management is lean, green, and digital. By implementing these practices, your company will be able to optimize your warehouse management system (WMS), reducing waste and maximizing productivity. The first step is to go paperless. Traditional inventory management systems are reliant on paper documents, which can be lost or damaged. By digitizing your inventory management system, you will be able to track your inventory more accurately and in real-time. The second step is to implement a lean inventory management system. This means reducing the amount of inventory you keep on-hand, and only stocking what you need, when you need it. This will reduce waste and increase efficiency. The third step is to go green. Traditional inventory management systems are often energy intensive, using up valuable resources. By implementing a green inventory management system, you will be able to save money and help the environment.

In the future of inventory, the automotive industry will continue to grow in popularity and influence. While this trend is well underway, there are still many changes that need to be made in order to keep up with the constant changes in technology. For example, autonomous vehicles are expected to take off in the next few years, which could have a huge impact on how we shop. This change will not only affect how we drive our vehicles, but it will also affect how we shop for cars, as well as deliveries. By 2035, it is predicted that 98% of all U.S.-based retail sales will be done via mobile devices and digital channels. Mobile retail ecommerce sales are projected to exceed $430 billion in 2022, [A1] this means that retailers must adapt their methods of inventory management or risk being left behind. The future of inventory management is automated, with many companies relying on artificial intelligence and robotics for such tasks as picking products and packing them into boxes for shipping. The future of inventory management will be fast-paced and constantly evolving, so businesses need to stay on top of the latest technology trends and adjust their inventory management practices accordingly.

At Averiware, we combine best-in-class services with a holistic operational approach from infrastructure to innovative solutions and end-to-end managed services. We deliver leading next-generation technology solutions that go beyond customer expectations while providing highly talented resources to support our clients across functional areas of the organization.

It’s very unlikely you will find a universal Cloud Accounting Software service. A reliable service like Acumatica can have an impressive offer but still not meet your commercial requirements. If you are looking for an affordable Acumatica alternative for your business then you’re at the right place now. Averiware is providing the most trusted Acumatica ERP alternative for Small-medium businesses with advanced cloud ERP modules.

An Alternative to Acumatica ERP and Other Cloud ERP Software Provider

Averiware ERP is a great alternative to Acumatica for distributors considering switching software. Averiware ERP is fully integrated delivering sales, CRM, eCommerce, customer service, fulfillment, inventory control, purchasing, warehouse management, accounting, financial tracking, reporting, and business intelligence functionality optimized for multiple distribution industries.  Averiware ERP accommodates the needs of distributor partners such as trade associations, buying groups, and others with features like EDI, rebate processing, electronic price updates, and extensive standardized data imports. Averiware ERP can be run on any device that runs a standard web browser and needs no other software installed on the device.

How Averiware compares to Acumatica in various industries?

Processes, workflows, and data demands vary greatly by industry. Most ERP software vendors offer industry-specific editions as well as the ability to customize the software to meet the specific needs a business might have.

Averiware’s core industries include:

Averiware offers an array of versions for what it calls micro verticals in areas including apparel, footwear, and accessories; restaurants; food and beverage; health and beauty; and more.

Why Choose Averiware as Acumatica Alternative?

Below are the advanced key features from Averiware cloud ERP software that provides richer functionality and a greater ability to scale with a customer’s growth and your business goal.

  1. Customer Relationship Management

Customer management is an essential feature for small businesses. It lets owners keep track of customer profiles and interactions. If you need to see a customer’s full history with your company, including their quotes and orders, this feature makes it possible.

2. Multi-Location Order Management

Order processing can become complicated as your business grows, so it’s important to choose a cloud ERP software that offers an order management feature. This lets you finalize quotes, create orders, and update them if customers request any changes. It’s wise to choose a system that supports multi-location orders so the platform will scale with your growing company.

3. Case and Issue Management

Customer issues are a regular occurrence for any business, no matter how dedicated it is to customer service. Patrons will have complaints or questions, and you can’t let them fall through the cracks. A case and issue management feature lets you track customer issues and ensure those problems are resolved in a timely fashion.

4. Pricing Management

Offering promotions and campaigns can make keeping track of your pricing very challenging, especially as you start offering more products or services. Cloud ERP systems should include a pricing management feature to help you track all pricing-related data. You can also use this feature to track offers like gift cards and coupons.

5. Inventory Management

Managing inventory on paper or on spreadsheets isn’t efficient, and the data isn’t always current. To update your data easily, you need cloud ERP software with an inventory management feature. This feature gives you real-time data about availability and stock levels across multiple locations.

6. Billing and Account Management

Cash flow management is essential for any small business, and the best way to have a healthy cash flow is to make sure your customers pay you quickly. This is why cloud ERP software should have an account management feature. This allows you to track and manage your company’s invoices and payments, while email notifications remind your customers to pay on time.

7. Marketing Campaign Management

Marketing campaigns are essential for businesses, and that’s why cloud ERP software should include a marketing campaign management feature. It lets you create and control your company’s marketing efforts more intuitively. The feature also helps you track how well your various campaigns are performing.

8. Self-Service Portal

Customers don’t always want to call or email a business when they need help, so a self-service portal is an important ERP feature. This also increases your business’s efficiency since customers can solve their own inquiries. With this feature, prospects can browse your catalog on their own and place orders when they’re ready. Customers can also view their past orders and make payments.

Choose the perfect alternative to Acumatica

The perfect alternative to Acumatica is Averiware is a fully integrated Cloud ERP Software that gives you full business control over your business activities, including warehouse management, inventory management, and order management. Built-in the cloud and customized for your needs, Averiware helps companies improve customer satisfaction, reduce order times, and control costs across the entire business operations.

As a wholesale business owner, you should know that Cloud ERP is essential in today’s complicated wholesale environment because Cloud ERPs help you to manage and improve every aspect of your business: Cloud ERPs give you total visibility over your entire operation, help you deliver more jobs on time, improve your wholesale processes, give you improved reporting, accounting, and planning capabilities, as well as provide you with increased data security to name just a few things Cloud ERPs help you with.

Getting the right Cloud ERP will help you stay on top of your business by using real-time data to connect your business from top-floor to shop-floor, helping you to run your shop smoothly and maximize throughput.

Below are the danger signs that your business immediately needs a Cloud ERP:

1. You can’t use real-time data to manage your operations

Real-time data is probably something you hear over and over again from Cloud ERP providers, but it really is important. If you are running your shop on data that isn’t accurate and up-to-date, you will always be behind the eight balls, so to speak. Knowing which production processes, machines, work centers, and product lines are operating at high-quality levels and which aren’t is essential for keeping shop floor operations running smoothly and something you can only do if you have access to high-quality real-time data.

2. You are constantly duplicating data

This is a big-time waster for lots of wholesale businesses. Instead of keeping the information in one centralized and connected system, various spreadsheets and business systems are used to manage your corporate data. This means that your staff is constantly entering the same information into different spreadsheets and systems.

Not only is this a major time-waster, eating up time your staff could be doing more productive tasks, but it is also an easy way errors can creep into your data. Simple typos and human errors will inevitably occur during data entry, and by constantly re-entering the same information, you’re creating greater chances for errors to be made and more chances for errors to compounded, as simple typos can be reproduced over and over again.

Another way this type of record-keeping hurts wholesale businesses is not having one single source of truth. If you are using multiple spreadsheets and systems to keep track of your information, which one is accurate?

By using a cloud ERP, you gain one centralized and connected system for all of your corporate data and information. You will not only stop wasting precious time re-entering information into various systems, but your entire operation will also run off of the same, accurate data set.

3. Your inventory process is out of control

Inventory management is all about knowing what stock you have on hand, sitting on the shelf. However, unless your inventory management system is integrated with the rest of your organization, and inventory management system alone can’t effectively optimize your inventory.

A Cloud ERP integrates your inventory management with the rest of your operation, making tracking inventory throughout your organization easy. A Cloud ERP system gives your staff instant access to a centralized inventory database that’s updated in real-time. This lets you know exactly what you can or can’t fulfill, what raw materials you actually have on-hand, as well as gives you the confidence that what is recorded in the database actually matches what is sitting on your shelf, making not only produce more efficient but financial reporting easier as well.

A Cloud ERP system can save you time and money by eliminating the daunting task of manually processing inventory management. Say goodbye to painstakingly update spreadsheets, and hello to real-time inventory updates, which means you spend less time doing the time-consuming task of manual input and more time focusing on other parts of your wholesale business.

4. Your record-keeping system seems poor

You need your shop to be running at maximum capacity if you want to be profitable and competitive. But if you have poor record-keeping and don’t have a handle on your business resources i.e., what your business has in terms of cash, raw materials, personnel, and production capacity you’ll have a hard time running at full capacity and maximizing your throughput.

With no overarching system that collects data, reports on your processes and systems and sees the big picture, how can you accurately know where you stand? Your business resources are what you use to keep your business running, and you should be aware of where you stand at all times.

One of the greatest aspects of Cloud ERPs is their ability to provide comprehensive visibility and improve record keeping. A Cloud ERP gives you an overarching view of your operations, letting you know how every aspect of your operation is performing.

And with a Cloud ERP what used to take hours of meticulous data collection, and report creation, can be done automatically giving you a comprehensive overview of your operation as Cloud ERPs allows full visibility of all your business processes, and let you measure critical performance metrics, through real-time dashboards. You can use this information to always know where you stand, optimize production schedules, and maximize capacity and increase your throughput.

5. You have bad customer service management

Let’s face it, your customers are everything. Without happy and satisfied customers your shop can’t exist. You need to keep your customers happy and keep them coming back to you, to stay in business. A poor customer experience, and poor customer service, can be major roadblocks to your business success.

How exactly can a Cloud ERP help you deliver a better customer experience you may ask?

Well for one, a Cloud ERP can help you give your customers more accurate quotes and timelines, and help you deliver more jobs on time, making your customers happier, and more likely to use you again for another job. Accurate production planning enhanced control over inventory, streamlined process scheduling, and coordination of distribution channels enable wholesalers to improve on-time delivery which is critical to maintaining good customer satisfaction.

A good Cloud ERP will also include a CRM or Customer Relationship Management function, that lets you keep all of your records and interactions with a customer in one place. You’ll be able to be more organized and easily know the status of each job you have for a customer. You’ll also be able to handle customer questions and inquiries faster and easier, and provide your customers with quicker and better answers, enhancing your customer service and your relationships with your customers.

Final thoughts

A Cloud ERP is an essential tool for your wholesale business. If you don’t have one, want to see a Cloud ERP in action? Get a free demo of Averiware Cloud ERP to see what it can do for you.

Are you on the market for cloud ERP software systems? There are many different systems on the market, but they don’t all offer the same features. Before you choose a fully integrated cloud ERP software, you need to make sure it has the features that meet your company’s immediate and long-term needs. With this in mind, below are the most important and advanced key features you should expect from a fully integrated cloud ERP software.

  1. Customer Relationship Management

Customer management is an essential feature for small businesses. It lets owners keep track of customer profiles and interactions. If you need to see a customer’s full history with your company, including their quotes and orders, this feature makes it possible.

  1. Multi-Location Order Management

Order processing can become complicated as your business grows, so it’s important to choose a cloud ERP software that offers an order management feature. This lets you finalize quotes, create orders, and update them if customers request any changes. It’s wise to choose a system that supports multi-location orders so the platform will scale with your growing company.

  1. Case and Issue Management

Customer issues are a regular occurrence for any business, no matter how dedicated it is to customer service. Patrons will have complaints or questions, and you can’t let them fall through the cracks. A case and issue management feature lets you track customer issues and ensure those problems are resolved in a timely fashion.

  1. Pricing Management

Offering promotions and campaigns can make keeping track of your pricing very challenging, especially as you start offering more products or services. Cloud ERP systems should include a pricing management feature to help you track all pricing-related data. You can also use this feature to track offers like gift cards and coupons.

  1. Catalog Management

If your small business sells a variety of products and/or services, a catalog management feature is essential. This feature helps you keep track of everything your business sells. This feature should let you create bundles of products and set customer-specific pricing. For efficiency, look for cloud ERP software that can pull product information from distributors.

  1. Inventory Management

Managing inventory on paper or on spreadsheets isn’t efficient, and the data isn’t always current. To update your data easily, you need cloud ERP software with an inventory management feature. This feature gives you real-time data about availability and stock levels across multiple locations.

  1. Billing and Account Management

Cash flow management is essential for any small business, and the best way to have a healthy cash flow is to make sure your customers pay you quickly. This is why cloud ERP software should have an account management feature. This allows you to track and manage your company’s invoices and payments, while email notifications remind your customers to pay on time.

  1. Marketing Campaign Management

Marketing campaigns are essential for businesses, and that’s why cloud ERP software should include a marketing campaign management feature. It lets you create and control your company’s marketing efforts more intuitively. The feature also helps you track how well your various campaigns are performing.

  1. Business Analytics & Reports

Business owners need good data about their companies to make informed decisions. Without access to the most up-to-date information, you can’t make strategic decisions. Cloud ERP software should offer business analytics so you can quickly and easily create the reports you need.

  1. Self-Service Portal

Customers don’t always want to call or email a business when they need help, so a self-service portal is an important ERP feature. This also increases your business’s efficiency since customers can solve their own inquiries. With this feature, prospects can browse your catalog on their own and place orders when they’re ready. Customers can also view their past orders and make payments.

Choose the Right One!

Averiware is a fully integrated Cloud ERP Software that gives you full business control over your business activities, including warehouse management, inventory management, and order management. Built-in the cloud and customized for your needs, Averiware helps companies improve customer satisfaction, reduce order times, and control costs across the entire business operations.

As a business owner or manager, you know it’s important to tack your inventory. You need to know what inventory you have on hand and if you have enough to sell to your customers and supply existing or future orders. Tracking inventory also allows you to track any shrinkage due to loss, damage, theft.

Maybe the most important reasons for tracking inventory is that to calculate your actual profit or loss you need to know the value of your inventory. It is important to make sure you strike the right balance of inventory and not have too much inventory on hand. Too much inventory can affects your cash flow and your ability to fund your operations. There are several method to value your inventory and you should talk to your accountant to make sure you are using the right inventory valuation method for your business and industry. Unused inventory costs money, just as not having enough inventory to meet customer demand is a problem.

Over the years I have seen many companies use Excel to manage their inventory. Excel is relatively easy, convenient, and cost effective – in the beginning. As an entrepreneur with an accounting back ground I really like Excel. Excel is a great tool to analyze consolidate, update and manage information. However, as your business grows, you will quickly leave those benefits behind.

Here are some problems with using Excel for Inventory Management:

When tracking large quantities of items in Excel the likelihood of data entry errors,especially if your inventory moves frequently from location to location.

A single Excel workbook limits user access. If your team is has multiple individuals touching inventory, only one person can edit your workbook at a time, this increases the probability of errors.

Excel lacks real-time inventory data. At any time, your Excel workbook could be out-of-sync with your actual inventory count.

Excel also limits your ability to quickly analyze historical data many business that track inventory on Excel limit  the information you are collecting, without keeping all the associated data, who ordered the items, which vendor you purchased it from, how long it stayed in inventory, which customer  purchased.

    There are many alternatives. One alternative is our solutions Averiware our Cloud based SaaS ERP and small and midsize businesses.

    Using one system to allow you to add inventory as part of the business process makes things much easier.  Managing inventory becomes part of your business operation and process rather than an afterthought and an extra task.

    Here are some examples:

    S.O. (Sales Orders):

    When Sales Orders are placed the team can see the inventory on hand, quantity on back order. You can also use this information to create a Purchase Order or Purchase requisition.

    P.O. (Purchase Orders) / P.R. (Purchase Requisitions):

    You can also select items on a Sales Order that can be easily added to a P.O. or P.R. (Purchase Requisition)

    Material Receipt:

    When items are received into the business / warehouse / the inventory will be updates when the PO is received, this will also be the case for RMA (Return Merchandise Authorization)

    There are numerous benefits to look at moving to an integrated inventory management system. You will be able to manage:

    If you are managing your inventory on excel sheets or do not currently manage your inventory you should take a look at what is available. You will find solutions like Averiware can help you break out of the Cells in Excel to manage your Inventory and improve efficiencies in you organization.