{"id":1033981,"date":"2023-03-15T22:10:59","date_gmt":"2023-03-16T05:10:59","guid":{"rendered":"https:\/\/customerthink.com\/?p=1033981"},"modified":"2023-03-15T22:10:59","modified_gmt":"2023-03-16T05:10:59","slug":"8-ways-to-improve-retail-product-returns-and-security-with-inventory-control","status":"publish","type":"post","link":"https:\/\/customerthink.com\/8-ways-to-improve-retail-product-returns-and-security-with-inventory-control\/","title":{"rendered":"8 Ways To Improve Retail Product Returns And Security With Inventory Control"},"content":{"rendered":"
67% of warehouses in a recent survey<\/a> said they\u2019re considering adopting new technologies to speed up inventory management processes. Is your retail store implementing agile and reliable inventory control?<\/p>\n Inventory control isn\u2019t just for operational efficiency – it benefits your product returns and security processes.<\/p>\n Keep reading as we discuss what inventory management software is and how automating inventory management processes leads to improved retail product returns and security – making returns easier for your customers.<\/p>\n Many retail stores and eCommerce businesses implement inventory management software<\/a> to calculate all inventory accurately, reducing the potential for human error.<\/p>\n In a traditional inventory management system, the business must perform regular inventory counts to ensure enough inventory to meet current and forecasted customer demand. However, performing inventory counts presents some issues for your business:<\/p>\n For the above reasons, many businesses are turning to inventory management software to maintain inventory levels and meet customer demand. Inventory management software uses RFID barcode tracking systems to automate inventory management. When your employees place items into your inventory storage, they scan the RFID tracking code to log the inventory with your management system. Automating this process provides more accurate and reliable inventory information while reducing the manual effort required. <\/p>\n Below are some benefits you can gain for your security strategy<\/a> and product returns when implementing inventory management software.<\/p>\n \t<\/p>\n <\/strong><\/p>\n Implementing inventory management software allows you to spot inventory shrinkage more easily. When manual inventory counts are performed, the data is less reliable, making inventory shrinkage more challenging to spot. <\/p>\n You can accurately understand your inventory levels by automating the inventory management process. When an inventory count is performed and does not reflect the figures in your inventory management system, you can be assured that this is due to employee theft or external theft. <\/p>\n You can then use your analog or IP security camera systems<\/a> to investigate the inventory issue and identify the perpetrator. Since retail shrinkage causes such significant losses for retail stores, this technology is invaluable – highlighting the need to invest in more proactive retail security solutions.<\/p>\n \t<\/p>\n <\/strong><\/p>\n If your business operates at a large scale and receives a high quantity of returns, this presents the risk of overstocking. Overstocking can lead to you running out of room in your retail stores, and it can cause additional charges from your logistics and fulfillment centers.<\/p>\n To ensure your inventory orders are aligned with the number of returns you receive, you can use inventory management software to log your returns. This will update your inventory levels, ensuring you do not unnecessarily reorder inventory. <\/p>\n You can automate this process by logging returns when a customer prints a return label from your website or logs the item as returned.<\/p>\n \t<\/p>\n <\/strong><\/p>\n Automating tracking for inventory returns using your inventory management software will allow you to track return rates for each item on offer in your retail store. By gaining more insight into inventory returns, you can evaluate which stock items must meet customer expectations<\/a>. By identifying these items, you can re-evaluate your stock offering to provide your customers with more relevant or high-quality products.<\/p>\n \t<\/p>\n <\/strong><\/p>\n With increased business growth<\/a>, continuing to manage your inventory manually will present a security risk. If you do not have an efficient inventory management system, you will have no insight into your inventory levels or shrinkage rates, which may indicate the need for more security. By opting for an inventory management tool, you can ensure that your security is working effectively and that your inventory management needs are manageable and manageable.<\/p>\n \t<\/p>\n <\/strong><\/p>\n Keeping an eye on returns and the reasons for returns is a critical element of your customer retention strategies<\/a>. If your customer returns an item due to sizing issues, they may wish to reorder it in a different size. <\/p>\n However, if the return was due to poor quality, they may never shop with you again. Keeping accurate logs of your returns alongside return reasons will allow you to improve your returns engagement and policies. <\/p>\nWhat Is Inventory Management Software?<\/h2>\n
How Inventory Management Improves Retail Product Returns And Security<\/h2>\n