# Monday, January 27, 2014

The business landscape has changed dramatically over the past 6 years.  The economy is moving away from the days of excess consumption to smarter consumption by consumers.  They are becoming smarter with their purchases, so businesses need to adapt to this change in the demand of goods.

Effective inventory management will play a key role for the long-term survival of many businesses.
  The companies that are most efficient with their operations will survive this downturn and prosper in the upturn. Companies need to carefully evaluate their current inventories, identify the slow-moving items and use promotional strategies to sell them quickly.  In addition, they need to identify those items that are in demand and keep them on order with the suppliers and manufacturers so they will have the most popular products on hand to sell to their customers.  

To achieve this, they need quantifiable data to know which items are in the highest demand.
  Businesses need to be aware that demand is different than sales when they do inventory forecasting.  Most ERP systems can tell you which item has the highest sales, but not necessarily the highest demand. Elliott Business Software’s Customer Wish List function can help businesses identify the top-demand items.  This information can also be integrated with the company website(s) to expand their digital business intelligence in this Internet age. 

A sudden drop in demand could leave businesses holding a large amount of excess inventory.
  To effectively manage and maintain inventory has become a top priority for many businesses.  Elliott Business Software has a built-in warehouse management solution to help you manage your inventory. 

To learn more, contact us at 909-598-9019 or e-mail us at

Monday, January 27, 2014 11:12:34 AM (Pacific Standard Time, UTC-08:00)  #    Comments [0] -

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