This post was originally published in 2012 and has been updated in 2021.
Online shopping and a demand for high-speed delivery is a huge trend in consumer goods. A survey by Clutch indicates that 45% of consumers are unlikely to go back to a business that hasn’t delivered their package according to schedule. We know it can be hard to compete with bigger businesses like Amazon within the shipping speed category. The key for your business is sharing accurate shipping information with your customers.
The foundation for accurate shipping information is a solid inventory system. When you know exactly what goods you have and where they are, you’ll be able to give your customers accurate information about their estimated shipping date. This is huge in keeping that 45% of your customers coming back, that otherwise would go somewhere else! Let us show you how easy tracking inventory is with us.
How to track inbound goods
Once you have imported your warehouse information into Megaventory the information needs to be kept up to date. Simply put, you’ll want to add each incoming item into your inventory software. This way you have up-to-date information on your stock levels. Let us take you through it.
Step 1. Go to Purchases → New Purchase – Receipt.
Step 2. Start typing the supplier, i.e. who is sending you the item. Your supplier contact details will automatically be filled in.
Step 3. Scroll down and click “add row” to add your item. Type in the SKU of your product. If you don’t remember it, you can easily search for the item by its name with the magnifying glass tool. You can also simply scan the barcode of your product.
You can add more than one item if it’s coming from the same supplier! Remember to save each row from the save icon on the right.
Step 4. When you’re done with entering items, hit “Approve (Receive)” at the top right corner of the document to finalize the process. You can also just save it for later from ”Save”.
Step 5. Final step! To make sure your products get shipped to the right warehouse, select a warehouse in the pop-up that will appear. Then hit “OK”.
Congratulations, you’re done! That was easy, wasn’t it?
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How to track outbound goods
When you send out your products to your client (or equivalent), your product levels at the warehouse are obviously going to decrease. We have great news for you: tracking outbound stock is just as easy as tracking inbound stock! This is what you’ll do:
Step 1. Go to Sales → New Sale – Shipment.
Step 2. Fill in your client’s name. Again, the details will be filled in automatically.
Step 3. Scroll down and add your items to the order. Remember to save each row! Megaventory will automatically show you your stock levels in different warehouses.
Step 4. Once you’ve added the items, go to the top right corner and hit “Approve (Ship)” to confirm the sale. Again, you can also save it for later.
Step 5. Fill in the appearing pop-up with the warehouse and shipping provider information. Then click Ok.
Can I get notified if my stock is low?
How great would it be if you didn’t have to go and check stock levels, but someone would just notify you when a new order needed to be made? We are here to make that possible! You can easily set an alert on any stock item.
Inventory software benefits – client testimonials
Our friends at a German tech company work hard to make smart homes be about people instead of screens. Their progressive technology and innovations need a solid framework in inventory, and they have been able to take their business to a new level with Megaventory.
“Managed our supply chain in sheets before we looked for the “next step” and found Megaventory. We used Megaventory for the past weeks and can already see that – once setup – it eliminates a lot of the manual processes, frees up time, and reduces a lot of the risks you face when managing everything in sheets.”Denis – Operations Manager
CWB Smart Home Solutions win by keeping close count of their goods
CWB Smart Home Solutions is a great example of a company making use of this core ERP feature. They are a Florida, USA-based company offering home automation, home theater, home security, and home networking solutions.
CWB has to handle the ordering, receiving, storing, and consequently shipping of expensive equipment based on their workflow and their clients’ requirements.
A quick look at their high-profile work and anyone can understand there is little to no room for mistakes. Ordering products, arrival times, keeping deadlines, etc. has to all be handled meticulously. A proper inventory management software is crucial for keeping it all together.
Andrews University on Staying on top of your stock levels
The marketing department of Andrews University uses Megaventory to track the inbound and outbound flow of their promotional material as well. This is what they had to say:
“Large quantities of promotional materials are shipped into our office, and they are entered into Megaventory. When those items are sold or distributed for recruiting or marketing purposes, they are deducted from the inventory and this allows us a chance to have more automation. Alerts also help us to know when to order various items.”Marketing team, Andrews University
Running the marketing department of an organization as complex as a university requires a systematic approach. Thankfully making sure the necessary material is always available is easy with our stock control software! We are all about avoiding stock-level malfunctions.
What to remember
- Inventory management is a key part of succeeding in your business
- Tracking incoming and outgoing goods is not as hard as you’d think
- We are here to help you!
Are you ready to start tracking your goods more efficiently?
Dimitris Athanasiadis oversees Operations and Customer Relations in Megaventory.