The Beauty of Centralized Product Management
Centralized product management allows you to manage your inventory efficiently, effectively, and profitably.
Here are 5 ways centralized product management is better for your retail chain.
- Real-time inventory status – With centralized product management, you are able to see your inventory status in real-time. For example, if you have one store that logs a transfer to another store, you are able to see where that one product is from the moment of transfer initiation until it arrives at the new store.
- Manage product costs and prices in one interface – Chaindrive’s interface allows you to see the cost of each unit when you purchase your products and allows you to manage your prices across the board so your team can account for losses, discounts, sales, inter-store transfers, and overstocks. Now, it is easier to know whether you’re holding your inventory too long and how much it’s costing you in the long run.
- Integrate inventory management into accounting – Having your accounting department and your inventory management tasks working together is an important aspect within a centralized product management solution. Your accounting department can easily calculate the costs of your inventory and identify products that are less profitable or losing money for the company so that you can eliminate them from your inventory if you need to.
- Group products in a way that makes sense for your retail chain – Configure your own product groupings whether its by vendor, by size, or product category. Chaindrive’s centralized product management allows for user assignable attributes for product grouping and precise targeted analysis.
- “Consolidate and recall” makes retail management easier – If you need to recall store-to-store transfers or make other product movements, you can do that easily with Chaindrive’s inter-store transfer optimization, which includes “drag and drop”, “many to one” consolidation and full recall functionality.
Chaindrive’s Centralized product management provides all the necessary tools you need to effectively manage your most valuable asset, your inventory.