Staying on top of inventory as it moves in and out of the warehouse is a critical part of optimizing margins for retail or wholesale companies.
Maximizing the association between inventory and cash flow includes managing customer and vendor relationships. Staying on top of this ensures that purchase orders (POs) are completed, and invoices are paid on time. Warehouse managers and workers rely on different sets of interconnected information.
In a growing business, inventory fluctuates rapidly, POs are constantly coming into the system, and invoices are issued on an ongoing basis. Warehouse managers need to know what’s out of stock and what’s coming in so they can make space or make purchases. Employees on the floor need real-time information about incoming POs and available stock for multiple items so they can fill orders more efficiently.
With a solution like AutoQL, managers, warehouse workers, and other users can simply ask for the information they need via a conversational interface. Now, it’s easy for non-power users to manage inventory, POs, invoices, and more. This access lets them ensure enough stock is on hand for upcoming jobs or quickly check whether a payment is coming, which would allow for more inventory or warehouse space investment.
With AutoQL, users can find answers and make decisions in real-time by asking for information in their own words.
With self-serve data access, workers can easily ask questions like “Show me stock on hand for product X” or “Show me the upcoming delivery day for product X.” Anyone with access can quickly find out if the product they need will be available for upcoming jobs, or when that product will arrive.
Additionally, warehouse workers can ask, “List all upcoming purchase orders to be filled today,” to get an overview of what items they’ll be collecting from the warehouse. They can also ask questions like “Show me stock on hand for item X” which allows them to spot possible opportunities to restock items. If they see that they are running low, they can fill multi-item POs all at once, reducing delivery hours and miles.
Managers can ask exploratory questions like “Show me the top five items sold this week” to view which items are flying off the shelves. This may lead to the question “List all customer POs this month that include product X” (where product X is the top item sold).
Managers can also ask important cash flow questions on the fly to get a better idea of whether they can order new stock to fill urgent upcoming POs. They can ask questions like “What is the payment schedule for customer X?” and “Show me all invoices issued this month” or, even, “Show me all paid invoices versus unpaid invoices this month.”
With all of this information available on-demand for users throughout the warehouse, everyone is empowered to keep up with the fluctuations and changes characteristic of a growing retail company.
When filling POs efficiently, you can dramatically cut storage and transport costs with the right products. Customers can trust that they’ll get exactly what they need, earning loyalty and driving revenue for the business.
For those in charge of inventory management, this functionality makes the data in their systems more valuable by making it more accessible. This ease-of-use can increase efficiency and drive revenue for any business that manages warehouse inventory effectively. Get instant answers in real-time and make better decisions when you use AutoQL.