Today’s sophisticated inventory management software provides boatloads of information on inventory reports that can be used to add oomph to sales. You can see what people are buying, when they are buying it, where they live, how much they are spending, how often they buy from you.
Make your reports work for you
The best inventory management software allows you to slice and dice information in multiple ways, so with imagination and creativity, there’s no end to the ways you can use these inventory reports to advance your sales.
Here are some examples.
- A new company that wants to build a reputation for its personal touch and is doing so by pulling customer names, addresses and purchases from its daily shipping report and sending handwritten notes to each of those customers.
- Another is firing up its sales force by having a sales contest. It is using inventory reports to track which sales managers are ringing up the most sales.
- Marketing can help unload an oversupply. Savvy companies can look at slow and low sellers and come up with a different sales approach or a big sale to move them along.
- Another smart company is using sales data it pulls from its inventory management system to study what people are buying. They tailor offers to different customers based on what they buy and how much they spend, adjusting both the products they promote and the percentage of discount they offer.