Success in business lies in the margins of efficiency and effectiveness. If your enterprise can derive a high level of customer satisfaction at a low cost, then you have a headstart. Being effective may be mostly about customer satisfaction. However, efficiency in your business is about how you manage your inventory.
Inventory management provides significant insights into efficient business management practices. When tracking, updating, and handling inventory is achieved more efficiently, other aspects of your business will also run more smoothly.
During a business meeting, one of the Qoba founders met with the owner of a chain of restaurants. As the conversation progressed, it emerged that the restaurateur’s biggest headache was his inability to track stock that was running low across his three restaurants. When he thought everything was running smoothly on a busy weekend night, one of the kitchens would report that a crucial ingredient had run out. As it turns out, on busy days, sometimes the food and beverage manager would be overwhelmed and forget to reorder for specific ingredients. It is a human error and can happen sometimes. However, it happens to the detriment of the business and inconveniences the customers. Sometimes, the restaurant may have to order the ingredient from a sister restaurant. However, as they are all in physically different locations, this inconveniences everyone.
It is vital to track your inventory to ensure that your business runs smoothly and efficiently.
A crucial tool to invest in, most notably when operating a business that involves fast-moving consumer goods, is a reliable inventory management system. Qoba provides restaurants, bars, salons, dry-cleaners, and other providers within the service and retail industries with an efficient inventory management system at a low cost (insert cost). Qoba enables businesses to manage their inventory anywhere at any time, online and offline. It also equips businesses with tools to update and download reports on current stock levels and issues alerts when stock is running low. Additionally, Qoba provides businesses with point-of-sale systems at a low cost and enables the business owner to grant various access levels to different employees depending on their function. You would want the food and beverage manager to see what stock is running low, but not the projected profit margins, right?
For retailers with multiple locations, the Qoba system is designed to help you track and manage inventory in all locations through its multi-location functionality. This ensures that as a business owner, the performance of your outlets is at your fingertips.
Qoba’s system ensures that:
- What can be automated is automated
- What can be delegated is delegated with necessary controls in place
- Being remote is not a barrier to having information on how your business is performing
- Your business will have access to barcoding capacity at a low cost
Closely monitoring your inventory and business environment means that you will be able to anticipate things better. You will also be able to assess the diligence of your employees and partners, know what to stock and when, and have all the relevant information when you need it. You can start receiving those essential data points today by signing up with us.