Use of inventory management software lets SMBs cut several hours off their weekly workloads, according to latest GetData research.
55% of SMB owners polled say that inventory management software saves them more than five hours per week, with 16% saying they save more than a day’s work thanks to these apps. Only 8% of respondents say that inventory management software saves them no time at all.
The research also revealed that when it comes to reordering decisions, SMBs are most likely to use information from previous months to inform them (46%). By contrast, forecasting software is the key intelligence source for reordering among 15% of business owners polled, followed by formulas (13%).
Key research findings:
- 39% of persons surveyed stated that due to the use of inventory management software they save 5 or more hours
- When considering reorder, almost a half of employees decide according to previous information
- On the other hand, 15% of SMBs opt for forecasting software
Details of the research:
Answers to the question: “How much time do you save in a week by using inventory management software?”
#1 – 5 hours or more (39%)
#2 – Less than 5 hours (37%)
#3 – One day or more (16%)
#4 – None at all (8%)
Answers to the question: “How do you decide when to reorder?”
#1. – Information from previous months (46%)
#2. – Other (26%)
#3. – Forecasting software (15%)
#4. – Formulas (13%)
Demographics: Over 500 US-based respondents from a panel of SMBs (small and medium-sized businesses). Respondents are aged between 25 and 54 and have an average inferred annual income of $24k – $150k.
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