If you’re a business owner with something to sell, we’re about to make your life a whole lot easier. Whether you’re a small company or a large enterprise with several shops in busy shopping centres or on the high street, monday.com is here to help you manage your business.
What is inventory management software?
So, you have a retail business. You have physical inventory coming in and going out. You may have to keep an eye on multiple stores, a large team, repeat customers, or a busy supply chain.
How do you keep track of it all without underbuying or overbuying stock?
monday.com can do inventory logs, sales pipeline, CRM, marketing plans, team delegation, automation and more. It can also integrate with your favourite apps, including Shopify as a retail POS system (point of sale) or Stripe for retail store payments. Through automations and detailed boards, you always know where your inventory stands.
Inventory Log Board
Let’s take a t-shirt company as an example. Inside of monday.com you can log all the information about your products and orders. To start with, you’d have an Item Name Column which would be the type of t-shirt you’re selling. Then, you’ll have a Numbers Column to store the product number. Next to this, you’d have Status Columns that will show you the colour of the t-shirt and whether it’s fully stocked or it’s time to order.
Check out the other columns you could include on an inventory log board to the right!
- Numbers Column – to record the number of units in stock
- Date Column – to record the date on which the style was last stocked
- Rating Column – allows us to rate the priority of order/restocking this style from 1-5
- Numbers Column – to display the price of each style
- Dropdown Column – allows us to create tags for each aisle and each shelf so that we can select one of each to reflect the location of the hats in our stock room
Stay on top of stock
monday.com automations help you make sure that nothing is forgotten. They’re also fully customisable, so you can suit them to your unique needs!
By setting up an automation, you can see every time your stock is getting low, and it’ll notify you to acquire more! You can also keep the dates on your board every time you restock so that you know when the last time was.
Visualise your inventory
To make sure you keep track of your inventory, monday.com has a Workload View to track and manage resources. It’s set up so that each bubble represents the total amount of units in stock, according to each level of availability, which is indicated by labels from our “Stock” Status Column plotted along the y-axis. Along the x-axis, the bubbles are plotted according to the date they were “Last Stocked”.
This helps to understand how your products are distributed across the levels of availability. You can also use it to determine how often you should be restocking your inventory based on the number of products available compared to the date they were last stocked. When you hover over a bubble, you can see the breakdown of each style marked with its respective label and the exact number of units in stock for each style.
You can then click any item to drill down deeper and open up the item card filled with all of the details described in the Main Table View.
Chart view
While the Workload View breaks your inventory down to the level of availability, you’ll also want to see your stock according to each type of product. For that, you can create a Chart View to break down the number of units available by type. You can even set a benchmark line at 120 units to visually determine when it’s time to order more stock of a certain type of product.
Track inventory with QR codes
Use your mobile device to scan inventory into monday.com. Automatically create QR codes to track items and update statuses while on the go.
Import spreadsheet data, integrate with existing tools
Easily turn old-fashioned spreadsheets into smart boards. Import all of your data so you and your team can continue working with all your existing tools inside monday.com.
Need help setting up your inventory management boards?
We are proud to be monday.com’s Preferred UK Partner because together, we help businesses achieve great things through knowledge, experience and caring family values.
Check out our next blog on a similar topic – Order management made easy with monday.com.
