Inventory Management: Grow Your eCommerce and Get Rid of Spreadsheets

Take your Inventory Management to the next level and get rid of ineffective old fashion approaches. Low-cost spreadsheet-based solutions, like Excel spreadsheets, offer low performances in terms of inventory management. They only make sense if you’re running a small business with little growth. If you don’t want to expand your business and your inventory is small, then Excel inventory tracking might work fine for you.

There are several reasons why you definitely need a different tool.

Spreadsheet-based tasks are error-prone. Many studies (for instance, the one conducted by Stephen Powell from the Tuck Business School) show that spreadsheets typically contain errors. If you base your future decisions on your workbooks, pay attention to the fact that many of these errors could have a big impact on your revenues. Even if you think to be a spreadsheet ninja, you’ll make mistakes, for sure.

Spreadsheets lack for real-time reporting: if you don’t have real-time reports you’ll always miss something about your inventory and an effective inventory control is quite impossible to obtain.

You need a good representation of your current data, so you need an effective Business Intelligence support. Spreadsheets fail in generating reports when you have to deal with large inventories because they have limits in organizing data and they will always propagate users errors. There are not only typing errors, often the most critical errors come from bad logic implementation of user-defined algorithms. This second type of error is systematic and it affects every piece of data it processes.

Spreadsheets users are expert in their own business, not in Excel UDF. Think about running a fast-growing business this way, with huge investments in inventory and personnel, and think about the impact of such ineffective way to analyze your data and take your decisions. Yes, it’s really dangerous.

Even if you are spreadsheet addicted, or if you’ve already substituted your spreadsheet approach with a solid monolith-designed traditional ERP, there’s still something missing in your current environment. Something that really makes the difference between a successful business and a business that simply survives: your system’s capability to provide the fundamental insights from your current data in order to take smart decisions. And there are not smart decisions without a strong data-driven strategy since e-Commerce is more a science than an art. And there is no data-driven process without a reliable data analytics tool. If you are ready for the next step, you’re in the right place. Contact us, we know how to support your business growth.

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September 21, 2017 - intuendi