Every year, pool and spa businesses fall victim to inaccuracies in inventory that can lead to thousands of dollars in lost profits. The busy summer season invariably leads to sales staff that give products away, service professionals that grab products from store shelves, and office staff that neglects to track warranties. However, by implementing tight inventory control systems pool and spa businesses can regain control to maintain sanity and increase profitability in our ever-increasing, fast-paced business environment.
Inventory control systems = more profits
To compete with big box stores, it has become imperative to tighten logistics and manage inventory right down to what’s in your service trucks. There is a fine line between having too much and too little stock. Because of its importance, it’s vital for you to make inventory a priority. If you start with an accurate product count and maintain it with software, then you are well on your way to taking control of your inventory.
One of the most important features in a pool inventory control system is the ability to integrate your system with that of your vendor suppliers. Specific pool and spa business software programs offer complete, pre-programmed inventory control systems that communicate inventory levels in real-time using vendor integrations. This allows pool and spa businesses to check vendor orders, status, and available inventory before placing an order.
Real-time inventory is golden
Real-time inventory is one of the most powerful and profitable metrics for any business. Targeting inventory dollars to the department or product types with the highest gross margins can increase profitability. Your business software should provide owners and managers the inventory control information they need to make smart business decisions. But the software is only as good as its inputs, so be sure you get systems in place and buy-in by everyone in your organization to ensure all information is accurate.
The beauty of having pool and spa specific point-of-sale software is that it automates inventory management control systems in many ways. These software programs offer quick and easy inventory reports designed specifically to provide pool and spa retailers and service companies the information they need to make important marketing and purchasing decisions.
As pool and spa businesses begin their physical inventory process at the beginning of 2021, use software to make the task less daunting by giving your staff the ability to do physical inventory using the paper method, from printed reports within your business software or by using a handheld data collector or even using a smartphone or tablet with a mobile-live system.
The best software programs include an Inventory Adjustment module that imports lists from a pre-existing software system or from your local distributors and suppliers– even from Excel spreadsheets. These software tools will help manage cycle counts, tighten logistics and provide renewed control over your inventory.
Make it mobile and motivate
Now that virtually all business software is mobile be sure that you have an inventory control management system that is accessible to all employees through their mobile devices. This empowers business managers and employees who can quickly see where a product is located. Mobile Live Retail and Mobile Live Service control software apps, reduce stress for sales employees trying to help customers and service professionals trying to complete a job.
Using mobile devices to track inventory can help create incentives for employees to make inventory management a priority. For managers, having a snapshot of all areas of the business -- from retail to service and construction -- provides data to implement new marketing campaigns, make smarter purchasing decisions, and change the course of the business — whether it be a response to competitors or a shift in the market due to weather or a larger event like the shift in consumer demands because of the pandemic.
Be ready for spring
To maximize the benefits of having begun the season with accurate inventory, smart businesses should maintain that accuracy with inventory control software systems. Don't fall victim to inaccuracies or be overrun with frustration, missed sales, surprising shortages, and lost income. Start now and you’ll be thanking yourself at the end of the season!
Rachael Pritz has been active in the pool and spa industry for more than 20 years, which has provided her with an all-encompassing expertise in the industry. Pritz worked at a local pool store while pursuing her Master’s degree at the University of Pittsburgh. Possessing the technical skills and pool industry knowledge, she joined the launch of RB Retail & Service Solutions in Pittsburgh in 2003. She can be reached at [email protected].
