Tackling supply chain issues: what tools do you have at your disposal?
Supply chain issues are widely reported and everyone reading this will be acutely aware of the potential issues. With demand outstripping supply and prices soaring, not just on raw materials but also on transportation and storage costs, how can merchants protect their margins while continuing to offer competitive and comprehensive service?
We will continue to expand on ways in which your ERP system should be able to help you manage these issues, but two which have come up a lot with customers recently are:
Average price tracking
With prices rising so rapidly, merchants need to cover against replenishment increases from one order to the next, rather than simply checking the average buying price. The Merchanter system builds in a buffer, by raising the standard cost price as the last cost price goes up. And if you are able to source stock at a reduced price, the standard cost won’t drop, so you’re not penalised for any ad hoc bargains.
The advantages are that you won’t have to manually adjust prices week to week, you’ll always have an accurate, moving picture of pricing in the market and of course, you won’t be caught out by how fast prices are going up, making it a win all round.
This features has proved to be extremely popular recently and if anyone reading would like more information on how to use it, please get in touch.
Perpetual stock optimisation
Being able to see an up to date, accurate picture of what stock you have available where is essential, and with an ERP system that allows every member of the workforce to input information from anywhere at any time, it has never been easier to achieve. But Merchanter goes beyond that, and is packed with features to help you actively optimise your stock profile, availability and profitability.
KPIs like Stock Turn help you see at a glance which product lines and individual items are selling well, how frequently and how profitably, letting you make crucial adjustments that add up to big changes. You can find out more about the Stock Turn KPI and its advantages for stock profile and profitability here.
We’ve also added unique features like Stock Confidence, which calculates the accuracy of your stock figures over time to help you gauge the need for manual checks and replenishment, and highlighting potential risks before they become problematic.
If you'd like to know more about the brilliant benefits of our unique Stock Confidence metric, just click here.
Easy to use, easy to access, easy to try
Merchanter has been designed with your workforce in mind, with a clear and simple interface that’s very quick to learn and lots of fun to master, and a tiered pricing scheme that makes it realistic to get everyone linked in. It’s loaded with features to make every day easier and to actively help you reduce waste, drive process efficiencies and enhance both productivity and profitability.
The above are just a few of the benefits Merchanter has to offer - if you’d like to try it out for yourself, please register for login details here.