Restocking: why it’s important and how we can help

Posted by Marcel Donnelly on Sep 6, 2021 10:47:00 AM

We all know that dreaded feeling when you use the last of something in our everyday lives. It’s a reminder to restock something that we sometimes wish we had earlier. 

Many businesses operate in an ad hoc manner when it comes to stock. They use what they have to and wait until they are out of something to realise they need to restock their inventory. 

This is a slippery slope. Not only is it flat out annoying, but it can also put undue stress on you and your team as they scramble to the local supplier to grab parts – leaving your customer at home wondering when you’ll be back to finish the job. 

Restocking buys you time 

We all know the saying “Time is Money”. Proper Inventory management requires a lot of your time and effort to setup but to then also maintain. 

It’s a great feeling knowing you can get a job done earlier or ahead of schedule for the simple fact that you already had the stock with you or your team. 

You can improve your profits and reduce wastage 

Materials are a necessity for jobs – there's no way around it. However, materials can eat into your profits like a hidden worm in an apple. 

Many businesses will keep excess stock in their warehouse or office, or over-buy when they’re at their supplier next. By understanding what stock you have been depleting, you can make smarter decisions in restocking, reducing wastage, and keeping more money in your bank! 

So, how can FlatRateNOW help with restocking 

We've recently released an integration with the capability to integrate your Reece maX account with FlatRateNOW directly. Upon doing this, we have also put a bigger focus on Vehicle Stock (or office stock).  

Upon reviewing materials for a job, you are now able to generate a Purchase Order which can help you distinguish what is used from Vehicle stock, or what stock needs to be ordered specifically for the job. 

This will begin to provide you with transparency on what items are being depleted and help to clarify what you should restock and what you shouldn’t. 

Topics: Electricians, Plumbers, Education