Best Practices for Digitally Connecting Inventory with DBSync & SkuVault
Today companies are looking to put in place digital strategies to automate their applications not only with their on-premise applications but also increasingly Cloud Applications. SkuVault provides an extensive platform for managing Inventory, and using DBSync you can not only connect applications like CRM, Accounting, eCommerce and ERPs but also yours Suppliers.
As a quick intro – SkuVault is a leading provider of Cloud based Inventory Management application. With its robust Inventory management module, it picks up where most of the ERP leaves off and provides businesses to manage their Inventory, warehouses and more on the cloud.
One of the key factors to understand Inventory Management is to understand how inventory flows through within an organization. But first let’s see why is understanding Inventory so important
- Cost: inventory holds free cash which is not good for your cash flow.
Lost sales: Lack of inventory can cost you sales.
- Ordering error: Not having the right visibility can get your sales into a situation of over-selling.
- Supply Disruption: Lack of visibility to vendor orders can delay your sales or manufacturing.
- Customer Service: Lack of visibility on fulfilled items can create confusion with your customer orders.
- Understanding Demand: Lack of analytics around Inventory and Safety Stock can get you into overstock or understock situations, which can create business issues.
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Any document will not be complete without laying out the ground work and Best Practices in executing an integration project.
Collaborative Team Inventory touches many business processes, not just Accounting, but also Sales, Supply Chain, eCommerce and more. To start out, get all stakeholders to define a team to identify all touch points.
Draw & Design your business process Inventory flow can get complicated, best way to start is to draw out your flow. Provide a Sign off.
Write up your Requirement Now that you have a view of your business process, identify each requirement that would streamline your Sales Order to Inventory to Purchase Order to Fulfillment to Invoicing to RMA. Provide a Sign off.
Prioritize Try not to solve all on your first attempt, prioritize them with 80-20 rule, and find the top 20% of the requirement that can give your business 80% boost. The rest, phase it out in future releases.
Identify KPI as Success Metrics and ROI Defining KPI as your success metric will provide a foundation for measuring success of this project. This can be increase speed of ordering, reducing ordering errors, increasing purchasing or reducing in inventory holding cost.
Execute Get an implementation team with the right integration experience to start tying up your application.
Test on Sandbox Verify that requirements are well tested before going live. Provide a Sign off.
Training Train all operators within this business process. It’s recommended to create a training video that can be used by existing and new operators in the future. Provide a Sign off.
Go Live Setup a date, it is recommended to do it on Saturday so that it gives you buffer to resolve the un-expected errors. Provide a Sign off.
Iterate Review you integrated application and pick the next integration
Supported SkuVault APIs
- Customer Sync
- Vendor Sync
- SalesOrder Sync
- Purchase Order Sync
- Item Sync