Oomph Works wonders for Inventory Management

Inventory management is often the core of any consumer-facing business. It’s a crucial element where many variables – some of which are outside of an organisation’s control – can be thrown into jeopardy if one fails. And if a business is relying on manual inventory management, they are much more likely to make errors during the ordering or counting process. This sentiment is backed by a recent report, where just under half of small businesses still use a manual system to track their inventory – and some do not monitor it at all¹. 

However, inventory management doesn’t need to be complicated. It can be as simple as installing a software tool to help your business organise stock and track it from order to invoice. That’s where Oomph Customer Relationship Management (CRM) works wonders. 

Why your business needs digitised inventory management

If you prefer the pen-and-paper method, we hear you. It’s worked for many years for small businesses without any trouble. However, customer demands in 2024 and beyond will only continue to grow. Our nation is a generation of online shoppers, next day delivery enthusiasts, and on-demand buyers who expect high standards of consumer satisfaction all year round. In fact, around four in five UK consumers purchase through digital means², so it stands to reason that small businesses must begin to think about digitising their inventory management systems. 

Oomph CRM’s inventory management module is a great starting point for small businesses who want to digitise their stock to keep up with growing consumer demand. If you’re unfamiliar with Oomph CRM, this blog should help you get accustomed with some of its features. But if you’re already using Oomph or thinking about using it, then let’s pique your interest further… 

One solution for all your business inventory needs

There are multiple benefits to using our stock inventory management module. Say you start with one product from a supplier and raise a purchase order for it, sending it to the supplier. Once the product arrives, you can book the stock quantity into your stock inventory, which closes the purchase order automatically and adds it into your inventory. 

When the stock is available in CRM, you can do one of several actions; allocate it to a sales order, hold the stock making it unavailable to use, transfer it to another location, or write off the stock. If you want to allocate the stock to a sales order, simply add in the quantity or batches to the order, and the system will automatically deduct from the available stock while keeping it visible to you. Once the sales order reaches the customer, the stock is then officially deducted from the quantity on hand automatically, and an invoice can be raised for the goods. It’s that simple.

Benefits you can count on

• Full traceability and visibility of stock management
  As a business you need to know where your order is at all times – not only at customer level, but supplier level too. Inventory management integrated into CRM makes this super easy to track, especially for multiple stock types.

• Ability to filter and report easily
  Inventory management’s newest feature offers custom reporting, where users can build their own reports from any fields for ultimate flexibility. 

• Full history of all stock movements
  This is imperative for meeting UK quality assurance legislation such as Good Manufacturing Practice (GMP) and Good Distribution Practice (GDP).

• Pre-allocation of stock
  Should you have stock on order currently moving through the supply chain, you can easily pre-allocate that stock before it arrives. In addition, with kanban views, you can easily see the order stage with drag and drop functionality. 

Starting at just £50 per month for the module add-on, Inventory Management is your gateway to inventory management success. Contact our team today for more information on how you can get started, or sign up via Oomph today: https://www.oomph.systems/signup

References
1. Wasp Barcode Technologies, Small Business Accounting Report, 2021
2. Statista, 2023 https://www.statista.com/topics/7887/online-shopping-behavior-in-the-uk/#topicOverview