My Inventory numbers are a mess

But don’t know where to start

Reclaim Control and Clarity with Outcome-as-a-Service

Imagine this: your retail business is growing, orders are coming in across multiple channels, and you’re excited about the upward trajectory. But behind the scenes, a silent saboteur is at work: your inventory numbers are a mess. Different departments operate in their own silos, relying on a patchwork of disjointed systems, endless spreadsheets, and a constant barrage of emails to communicate crucial data. The result? Stockouts when the system says you have items, phantom inventory leading to cancelled orders, and a general sense of chaos that’s costing you time, money, and customer trust.

If this story resonates, you’re not alone. Many thriving retail businesses grapple with the challenge of inaccurate inventory, often stemming from a variety of pain points:

• Manual Data Entry Errors: Relying on manual stock counts and updates leaves ample room for human error during receiving, picking, packing, and even at the point of sale. These seemingly small errors accumulate, creating significant discrepancies over time.
• Lack of System Integration: When different departments (e.g., online sales, brick-and-mortar stores, warehouse) use separate, unconnected systems, there’s no single source of truth for inventory. Data becomes outdated and inconsistent across platforms.
• Poor Communication: Without clear and automated communication channels between teams, information about sales, returns, and stock movements gets lost or delayed, leading to inaccurate records.
• Inefficient Receiving Processes: Failure to accurately count and record incoming shipments can lead to discrepancies from the moment inventory arrives.
• Mismanaged Returns: Incorrectly processing returns, whether by failing to update inventory levels or assigning incorrect codes, skews your stock data.
• Misplaced Inventory: Items stored in the wrong locations within a warehouse or retail space become “lost” to the system, even though they are physically present.
• Shrinkage (Theft and Damage): Unaccounted losses due to theft (both internal and external) and damage directly impact inventory accuracy.
• Outdated Technology: Relying on manual processes or outdated inventory management systems simply can’t keep pace with the complexities of a growing retail operation.
• Lack of Standardised Processes: Inconsistent workflows for inventory management across different departments or channels contribute to data inaccuracies.

The consequences of this inventory chaos are significant: lost sales due to stockouts or the inability to locate items, increased carrying costs for overstocked or phantom inventory, higher operational expenses from manual reconciliation efforts, poor customer experiences due to inaccurate availability information and order cancellations, and flawed decision-making based on unreliable data. Industry reports suggest that inaccurate inventory can cost retailers billions annually in lost revenue and increased operational costs. Some studies indicate that as many as 60% of retail SKUs are impacted by inventory record inaccuracies.

Creatum.com: Bringing Order to Your Inventory Chaos 

At Creatum.com, we understand that untangling this web of inventory inaccuracies requires more than just a software Band-Aid. Our Outcome-as-a-Service approach is designed to address the root causes of your inventory mess, bringing all your processes together and establishing a single, accurate view of your stock.

Here’s how we step in to restore order and clarity:

• Comprehensive Systems Assessment: We begin by thoroughly analysing your current systems, data flows, and communication channels across all departments involved in inventory management.
• Strategic Solution Design: Based on our assessment, we craft a tailored strategy that may involve implementing new, integrated inventory management systems where needed, optimising existing systems, and establishing clear data governance policies.
• Process Optimisation and Automation: We work with your teams to streamline and automate key inventory processes, from receiving and put-away to picking, packing, and returns, minimising manual touchpoints and reducing the risk of errors.
• Enhanced Communication and Collaboration: We help establish clear and automated communication pathways between departments (e.g., sales, marketing, warehouse, customer service) ensuring everyone has access to the same real-time inventory information. This can involve integrating communication tools with your inventory management system to trigger alerts and updates automatically.
• Real-Time Visibility Implementation: Our goal is to provide you with a single, unified view of your inventory across all locations and channels, accessible in real-time. This empowers informed decision-making and proactive inventory management. Implementing real-time inventory management systems has been shown to reduce stockouts by up to 30% and improve order accuracy to 99%.
• Data Accuracy and Integrity Initiatives: We implement measures to ensure data accuracy, including barcode or RFID scanning for efficient tracking, regular cycle counts and audits, and training for your team on proper inventory management procedures.
• Integration Expertise: We seamlessly integrate your inventory management system with your other critical business systems, such as your eCommerce platform, POS system, and accounting software, ensuring a smooth flow of data across your entire operations.

Reclaim Control of Your Inventory 

Stop letting messy inventory numbers erode your profits and frustrate your customers. Creatum.com’s Outcome-as-a-Service provides the expertise and hands-on support you need to bring order to your inventory chaos. We’ll work collaboratively with you to implement a centralised and accurate inventory management system that streamlines your operations, improves your decision-making, enhances your customer experience, and ultimately drives profitable growth.

Ready to transform your inventory from a liability into a strategic asset? Contact Creatum.com today for a consultation and let’s discuss how our OaaS can bring clarity and control to your inventory management.