In today’s on-demand market, the customer’s experience is as important as the products sold. Salesforce’s 2019 State Service Report found that as much as 80% of customers surveyed see their buying experience as a crucial deciding factor on whether or not they will return to any particular store.
As your company grows, inventory grows as well, and Excel’s dependability becomes even more unreliable. Unable to handle the strain of the warehouse, Excel can do more harm than good as it opens your workflow to costly errors and time-consuming operations.
You might have experienced the disappointment of attempting to buy an item only for it to be out-of-stock. Unfortunately, this experience is quite common. Business analysts at the IHL Group estimated retailers have lost as much as $144.9 billion due to stock shortage in North America alone.
There is no definitive way to predict the future, and yet change inevitable. Whether it be the seasons or technology, change is always on its way. Therefore, it should come as no surprise that current studies have outlined key shifts within the global market that call for rapid warehouse modernization.
Using inadequate devices to support business needs can lead to numerous complications including, but not limited to, repair costs, recurring downtime, app crashes, and overall workforce confusion. Couple that with the ever-changing consumer market, and you get inaccurate inventory tracking, inefficient supply fulfillment, and unsatisfied customers.
Inaccurate resource management within the warehouse may account for an incalculable loss in profits through over/under stocking, delayed deliveries, confusion, etc. Tracking inventory with obsolete resources (paper, consumer-de devices, etc.) impairs visibility throughout your supply inventory, increasing the risk of missed sales and malpractice fees.