The benefits of retail inventory management software are undeniable: use it properly and you’re in a good position to optimize inventory and order fulfillment, improve customer service, and reduce costs. But improperly implemented, any software will fall short of these and other expectations.
As you evaluate different software options—or if you’ve already made the investment and want to make sure you’re getting the most bang for your buck—here are some “must-dos" that will help you avoid common mistakes and pitfalls that could undermine your efforts.
Start With The “Why”
If you don’t know what the software is solving for before you implement it, you won’t know if it’s helping you achieve your goals. Sure, you want to manage your stock, order products, and move inventory efficiently...but how, and in what ways?
If you buy a software platform as your first step in the inventory management process—and only then start figuring out what you want to do with it—you may be disappointed (or, worse, won’t accomplish what you need to). You need to start with a smart strategy.
The approach Barcoding takes is to begin by evaluating your processes and people. We first look at existing workflows to find what’s working, what’s not, where the problem areas are, and where improvements can/should be made. We then turn to the people who’ll be using the software: how will they be using it? What features do they want and need? How easy does the software have to be? Only after this foundational step can we help you identify the right technology (software and hardware) to satisfy the identified needs ...and those that may be on the horizon.
Part of any strategy is setting the performance indicators you’ll measure—after all, if you’re not tracking what’s important, how will you know if the software is helping you improve it? A vendor partner like Barcoding, with experience in the software and hundreds of implementations under their belt, can help you identify the most important performance metrics to track as you work to achieve your optimization goals. Don’t be surprised if our knowledge of the software and insights into retail inventory management lead us to recommend the tracking of some metrics you didn’t know could be measured (or that mattered)!
Assign An Internal Owner
Without someone who “owns” and deeply understands the software and how it can (and should) be used, your implementation is vulnerable to all sorts of negatives that will impact its effectiveness: user apathy, misuse/mistakes, and an inability to glean insights from the data being captured, just to name a few.
The person (or team) responsible for the implementation will be involved in establishing software and program goals, requirements, and key performance indicators (KPIs), managing the process, and, afterwards, day-to-day management of the program and the ongoing measurement of those KPIs. Ideally, the owner will be a stakeholder with a vested interest in its success, and with the ability to make decisions.
You have two options here: assign and train someone/people internally to take this role, or hire outside experts. Since your goals will undoubtedly include reducing costs and improving profitability, and because of the significance and long-term importance of both, it almost always pays to invest in experts because they know how to get the most out of the software. Doing so also keeps your people focused on their jobs and eliminates the likelihood of “newbie” mistakes.
Train Thoroughly
The best tools in the world are useless if your people don’t know what to do with them. Choosing an inventory management software that’s simple and intuitive is key, yet thorough training is still critical in ensuring user adoption and proper ongoing use. Fortunately, most software today is pretty easy to use, making training a relatively speedy process.
Make sure, though, that the internal people you assign to do the training understand the software inside and out, with knowledge of every one of its features and capabilities (and their purposes). It’s a daunting task, though, and yet another reason to work with a vendor partner with broad expertise. The experts in inventory management hardware, software, and implementation have the inside track into retail best practices, including how to get the most out of the tools and the best ways to avoid common missteps, so working with them is the best way to ensure a smooth, efficient, and trouble-free implementation.
Don’t Take The Journey Alone
Implementing a retail inventory management software is a big deal; it’s a watershed moment that can accelerate your trajectory towards highly efficient and more profitable operations, and help develop and secure your competitive edge. Start off on the right foot using the tips provided in this post: articulate your “why,” assess your processes and people, assign an implementation owner, and train thoroughly. Do these things with the help of an experienced partner and you’ll save plenty of headaches, not to mention time, effort, and money.
Want to learn more about the connection between your needs and our extensive retail inventory management experience? We’re eager to help pinpoint the right solution for you, so why not click the link below to start a conversation?
