What makes EzyTrader the Next Big Thing in Inventory Management?  

One of the biggest things in the business industry that brings down a small business is lack of inventory management. This may seem surprising as there are many things that can bring down a business, and inventory management isn’t usually the first thing that is thought of. While keeping track of inventory may seem less significant than other parts of running a business, it is key to making your business run properly and to managing the money you have invested in the business. Several problems with supply management include ordering mishaps, surplus inventory, waste inventory etc. These can all sabotage your business with quickness.

A study conducted by a research company, Software Advice highlighted that 35% of Manufacturers want to modernize their inventory management. A total of 31% EPC Companies wish to automate and organize business processes and 14 %of Manufactures have outgrown their old inventory management system. In today’s age, Companies are looking at innovative platforms to buy and sell excess inventory.

And that’s where EzyTrader comes in.

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It provides a platform to buy or sell excess/surplus/unused stock and inventory automatically without any hassle. Thereby creating a marketplace that is effective and self-sustaining, providing a meeting ground for both the purchaser and the provider. The obvious question that arises is that, why would I choose EzyTrader? Let’s list down a few advantages:

For Sellers:

  • Helps reduce un-used inventory & Equipment
  • No transaction cost
  • Meet buyers directly
  • Get good value for your products

For Buyers:

  • Find material in small quantities which manufacturers regret to supply
  • Find material within minutes and save valuable sourcing time
  • Get access to lots of sellers
  • No transaction fee

It is a win-win situation for both the parties and as such a revolutionary concept that hasn’t been championed before. Moreover, it is backed by Oriental Manufacturers an already trusted name in the business.

Doesn’t this all shout, the next big thing in inventory control? You bet it does.

Go on, test it for yourself – www.ezytrader.in and don’t forget to follow us on Facebook, Twitter & Linkedin for continued updates.

 

A Deeper Look Into Stock & Control Inventory

Stock Control or Inventory Control shows how much stock you have at a time and how to keep track of it. Efficient stock control allows you to have the right amount of stock in the right place at the right time. It ensures that capital is not tied up unnecessarily, and protects production if problems arise with the supply chain.

 

Everything you use to make your products, provide your services and to run your business is part of your stock.

There are four main types of stock:

  • Raw materials and components – ready to use in production
  • Work in progress – stocks of unfinished goods in production
  • Finished goods ready for sale
  • Consumables – for example, fuel and stationery

You can categorize stock further, according to its value. For example, you could put items into low, medium and high value categories. If your stock levels are limited by capital, this will help you to plan expenditure on new and replacement stock.

You may choose to concentrate resources on the areas of greatest value.

However, low-cost items can be crucial to your production process and should not be overlooked.

 

Deciding how much stock to keep depends on the size and nature of your business, and the type of stock involved. If you are short of space, you may be able to buy stock in bulk and then pay a fee to your supplier to store it, calling it off as and when needed.

 

Let’s look at the advantages and disadvantages of keeping little or no stock and negotiating with suppliers when you need it.

 

Advantages Disadvantages
Efficient and flexible – you only have what you need, when you need it Meeting stock needs can become complicated and expensive
Lower storage costs You might run out of stock if there’s a hitch in the system
You can keep up to date and develop new products without wasting stock You are dependent on the efficiency of your suppliers

 

This might suit your business if it’s in a fast-moving environment where products develop rapidly, the stock is expensive to buy and store, the items are perishable or replenishing stock is quick and easy.  Now let’s look at the advantages and disadvantages of keeping lots of stock

Advantages Disadvantages
Easy to manage Higher storage and insurance costs
Low management costs Certain goods might perish
You never run out Stock may become obsolete before it is used
Buying in bulk may be cheaper Your capital is tied up

 

This might suit your business if sales are difficult to predict, you can store plenty of stock cheaply, the components or materials you buy are unlikely to go through rapid developments or they take a long time to re-order.

Thus, http://www.ezytrader.in/ recommends few key questions you should ask yourself before making any stock related decisions:

  • How reliable is the supply and are alternative sources available?
  • Are the components produced or delivered in batches?
  • Can you predict demand?
  • Is the price steady?
  • Are there discounts if you buy in bulk?