Acumatica is frequently promoted as a solution for large enterprises. However, it’s ideal for mid-sized inventory businesses, as well. In fact, when combined with Stock IQ’s intelligent supply chain planning solutions, Acumatica can prove even more essential for mid-sized businesses than large ones. There’s a reason StockIQ is a sponsor at Acumatica Summit 2022 in January in Las Vegas: because Acumatica offers solutions that fit the needs of businesses of all sizes, including medium-sized businesses.
1. Pivot Faster in the Event of a Crisis or Change (and Keep Up with Those Big Businesses)
Now, more than ever, most mid-size businesses are aware of the challenges of supply chain forecasting, including delays in shipping that have slowed down responses across the country. When a change arrives, it’s critical that your business be able to shift direction quickly–and, as a mid-sized business, you may need to make that shift even faster to be able to keep up with your larger competitors.
Customers, in general, will tend to stick with one of the first solutions they find. If they choose a larger competitor, convenience may keep them going back to that company–especially if that larger business also offers options that you, as a smaller company, may not be able to provide. If you can keep your customers coming to your business, on the other hand, they’ll be more likely to continue with you–even during a crisis or major change.
Acumatica can use its built-in algorithms and ability to pivot to help you respond quickly to those changes. You can forecast new inventory needs based on current algorithms and sales and other relevant information, then make sure that you have the inventory on hand to provide for your customers’ needs.
2. Use Built-In Algorithms in Acumatica to Keep Up with Your Ongoing Stock Needs (and Predict Them More Effectively)
Thanks to Acumatica’s built-in algorithms, you can calculate your usual stock needs and keep up with how much stock you need to have on hand, whether your needs change by the season or according to specific sales cycles. You can also note changes in stocking needs as customers’ needs and desires shift, which can help you ensure that you have the right tools on hand.
As a medium-sized business, you may not have the warehouse space that your larger competitors have–which means that excess inventory may end up going to waste, getting destroyed in the warehouse, or for sale at a much lower price than you would normally sell those items for–which could cut into your company’s profits. With Acumatica you can better predict your ongoing supply needs, which can help you order a more realistic stock and avoid waste. At the same time, it will help you predict increases in your supply needs, which will allow you to have the right stock on the shelves when you need it.
3. Keep a Closer Eye on Your Supply Chain
Large-scale businesses may have multiple sources for the inventory they use most often. As a medium-sized business, on the other hand, you may have fewer options for bringing in the inventory you need. When one of your suppliers has a problem, it could interfere with your entire inventory–and leave you struggling to provide the stock your customers need.
Acumatica, on the other hand, can provide you with insights into the entire supply chain and incorporate that information into your overall supply planning. Do you need to figure out a new place to acquire specific inventory? Do you need a workaround that will help it get to you faster? Are there going to be delays that you need to inform your customers about? With Acumatica, you’ll have more insights into that vital information, which can put you in a better position to keep up with your supply chain and your needs.
4. Pay Attention to Your Customers’ Needs
Your customers’ needs change regularly. They change as the seasons change, as they grow in their lives or their businesses, or as popular demand shifts. Keeping up with those changes is a critical part of keeping your business up and running. With Acumatica, combined with Stock IQ, you can keep a closer eye on shifting consumer needs so that you can adapt your stock and supply chain accordingly–whether that means you need to anticipate increased need for a specific item or type of item, or you need to start reducing stock in another area to clear the way for shifting demand.
As a medium-sized business, you can offer much more personalized attention to your customers’ needs than the average large business. You need to pay attention to their changing demands and requirements–and Acumatica provides you with the tools you need to offer the high standard of service they expect.
5. Automate More
Automation isn’t just something for big businesses. In fact, automation is a crucial strategy that will allow you to offer more to your customers without putting more on your plate than your employees can manage . Acumatica can help you automate ordering processes, including pre-generating the orders that you’re most likely to need to put together. It can also trigger replenishment when necessary, so you won’t have to spend your day taking care of those essential tasks. By automating supply chain management, you can improve your business’s ability to deliver what your customers need most and still have more time to spend on the other tasks on your To Do list–without needing to add more employees.
Acumatica is a solution that can help you manage your supply chain more effectively whether you’re a small business, a medium-sized business, or a larger business. With automation, convenience, and oversight, you can get a better look at how your supply chain impacts your business and what steps you need to take next to provide more for your customers. StockIQ can help you make the most of many supply chain management tasks. Contact us today to learn more.
