Growth Director – Macmobile
Inventory management software has transformed the way businesses track and manage stock, and suggested ordering is one of the must-have features FMCG businesses can’t go without. No, we’re not talking about the time Uber Eats suggested adding churros to your order. Whether you’re a distributor, wholesaler or retailer, suggested ordering is an efficient way for your sales team to save time to spend on revenue-generating opportunities.
Suggested ordering uses the latest technology within inventory management software to help companies track and manage stock better. It uses intelligent algorithms to predict exactly what stock your business will need at a specific time and generates sales orders accordingly.
Suggested ordering takes the guesswork out of being a retailer, wholesaler or distributor by improving inventory management and stock management. Through suggested ordering, businesses can determine what stock they need to reorder, how much and how soon to help prevent understocking or overstocking.
It also shows retailers what products consumers purchase the most. For customer-centric businesses, having the purchase history of your customers on hand offers insight into which items are the most popular, which products tend to be purchased together and at which time of year. This gives businesses a head start so they can always meet their customers’ needs.
Access to accurate business information also makes it easier to respond to changing customer demand and seasonal buying patterns. Instead of relying on assumptions, teams can make informed decisions based on real-world trends and historical performance. This creates a more efficient workflow, improves planning across departments and helps businesses remain agile in competitive markets. As technologies such as artificial intelligence continue to evolve, businesses can expect even greater levels of insight and decision-making support. You can learn more about how AI is transforming industries on the World Economic Forum website.
While the development of this technology has progressed over time, its growth has accelerated in recent years thanks to artificial intelligence (AI).
AI analytical systems can collate data from across departments and speed up the process of obtaining insight into stock levels and customer purchase history. This allows distributors and retailers to run their business more seamlessly, save money and avoid accumulating excess stock – or not having customers’ favourite products on the shelves when they come looking for it.
And while saving money is always a big enough bonus on its own, knowing exactly what items to order and how much means less excess stock ending up in landfills and retailers inadvertently contributing to pollution. This is a sustainability win which not only earns your business brownie points but also benefits everyone, starting with you.
Suggested ordering tools using advanced machine learning can even incorporate information such as upcoming holidays to help retailers order the products customers will likely be interested in purchasing over that period.
Before the mad Christmas rush, there’s the stocking of all the products purchased during this period. And before that there’s the ordering of those products. Suggested ordering uses trend forecasting powered by AI to predict sales and using geographic data, store format data, sales out of stores in the area, it suggests which items should be ordered. This technology maximises sales opportunities for the business resulting in higher revenue.
At Macmobile, we are committed to providing you with solutions that optimise your business, expand your reach, and save you money. Book your free demo today to see our automation tools in action.
