Why using iM3 SCM over Excel Spreadsheets is better for Inventory Management!

By Pratik Narula, Partner & Managing Director, PeoplePlus Software, Inc. 12 Comments

Inventory management is the backbone of most businesses. Having accurate data reduces the risk of overselling, minimizes stock-outs & dead stock, provides visibility on part performance, allows for timely procurement which reduces warehouse activity, and provides a broader view of part data to make more profitable business decisions.

The iM3 SCM Suite is a user-friendly application providing Supply Chain automation around your inventory management. Accuracy of inventory data is integral for any business in sales & distribution, repair services or installation, manufacturers and assembly all rely on accurate inventory.

The iM3 SCM Suite provides real-time inventory visibility for each sales order whether its eCommerce, counter or phone sales, for every service or installation work order you create scheduled or unexpected, for all the preventive maintenance tasks scheduled on your important equipment or fleet, and all of these can be lost opportunities if you don’t have the part.

The iM3 Suite is a cloud-based Supply Chain Solution that is mobile enabled to automate and integrate various functions within an enterprise. A scalable application for large & small businesses that would benefit from iM3’s integrated supply chain tools that support accurate inventory management. Businesses requiring Warehouse Management, Fleet Maintenance Management, Facility Management or Field Service Management, will benefit from iM3’s real-time dashboards, departmental data visibility and intuitive processes whether to support the business directly or indirect.

Still, there are many industries and companies that rely on excel spreadsheets to manage inventory and other critical company data, which increases the likelihood of errors and redundant manual processes.

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Here are some of the attributes why you should choose iM3 SCM over excel.

iM3 SCM offers:

Better Data Integrity

Excel is based on manual operations and in order to manage inventory using an excel spreadsheet, many users have to access the same file and maintain entries in the same. Due to this, a forgotten entry can lead to lost data. Also, the data can be overwritten or changed over the course of time. It may disturb the data relating to the inventory management system.

On the other hand, while using a full-fledged iM3 SCM system, a business can operate its own centralized database platform through which all the operation can be managed by multiple users on a real-time basis while maintaining the integrity of data. It saves time and also reduces the errors incorporated.

Improved Management of Voluminous Data

As time passes by, the number of assets, as well as, inventory changes and grows. Due to which there collects a lot of data to track. Excel incorporates manual entries and management; that’s why voluminous data handling may lead to errors.

By opting for an all-integrated iM3 SCM software, the whole inventory management system can be turned automated due to which errors are reduced to a minimum, and data is collected, organized, and maintained in a better and more efficient form.

Enhanced Features & Flexibility

Though spreadsheets turn out to be exceedingly flexible due to its inbuilt mathematical operations, such as SUM, SORT, etc., still asks for extra manual efforts when it comes to analyzing complex statistical data. Excel targets a broad audience, but lacks in features.

On the contrary, using iM3 SCM by PPS, you can not only servea broader audience but also avail increased performance and features. Due to more robust automated operations by this advanced SCM system, you can better up the functionality of the software you’re proposing to your client.

As per Carter-Logistics (Benefits of Supply Chain Automation):

“Automation in the logistics industry will play an increasingly important role in helping all processes to run smoothly in less time with less labor. The valuable human resources can then be allocated to focus on tasks that require human skills such as building relationships and decision-making, which drive value for the entire business.”

Due to the virtual presence and dynamic operations offered by iM3 SCM, it proves to be a universal tool that may benefit all types of businesses. That’s why, PPS by combining automation with its iM3 SCM Suite, helps businesses in handling tasks like tracking inventory, monitoring contacts, generating calendar tasks, as well as, managing enterprise-level events.