So if you are leaving inventory details to manual spreadsheets are you really setting up your brand for success? It is also THE fundamental component to a CPG brand to have products in stock to sell and be able to turn a profit. When you run out of product it can also damage your brand, customer relationships and can hurt strategic channels like store chains, marketplaces, and big box stores. Not buying enough can cause you to lose clients and customers. Ultimately buying too much inventory spends the precious cash needed to grow your business. “43 percent of small businesses in the United States don’t track inventory, or do so using a manual system.” Inventory Operations software tracks the lifecycle of inventory and stock as it comes and goes out of your business with key insight into the process. It is very hard to scale a CPG Brand when you do not have full visibility into your inventory, reorder points, and production timelines. In addition to more brands entering the market, there are also even more small-to-medium-sized 3PL and co-packers joining the fun offering more flexibility with a modern approach.ĬPG Brands are set up to succeed when they have insight into their inventory at every stage and at all locations in real-time. The brands that will win will be the ones that get a handle on inventory, margins and who streamline operations.
The CPG Industry is rapidly changing every day with thousands of new SKUs, flavors, types, bundles, and much more in niche markets.
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