The Importance of Inventory Management During COVID
–by Rachael Pritz
With widespread shortages in supplies, backorders and fluctuating prices across all areas of the pool and spa industry, the importance of inventory management has never been more apparent. Most pool and spa retailers agree that the pandemic has highlighted the need for automation and more use of e-commerce. Pool professionals are now actively embracing inventory software and e-commerce solutions that integrate together to ensure they can plan for optimal inventory, make smart purchasing decisions, and profit on all products sold and used in their businesses.
Inventory Control and Vendor Integrations
Having tight control of inventory has been critical during this surge in demand caused by COVID. What started in 2020, the pool and spa industry expects to continue throughout 2022. It’s important to utilize business software with features that allow pool and spa businesses to keep tight control of inventory simply, easily, and efficiently. For example, having a powerful vendor integration feature allows purchasing agents to quickly enter orders without having to duplicate data entry. Additionally, these integrations allow staff to track backorders and special orders for customers. Not only will you be notified when a specific item is received, but you can also designate specific product orders for specific customers. This allows you to quickly reach out to your client to arrange for pick up or delivery. Or, if the item received is not what was purchased, the system set up catches incorrect items immediately so staff can take swift action. This software feature makes business operations more efficient and eliminates unnecessary calls—ultimately delivering a higher level of customer service to clients.
Mobile Live and Inventory on the Go
By giving your staff all the features of your business software on any tablet or mobile phone, it will vastly improve your inventory control and purchase planning. This particular feature is invaluable for ensuring your product inventory is 100% accurate at all times. Because there is limited stock for virtually every product, retailers, service professionals, and construction crews are doing physical counts much more frequently. By using the mobile live feature, any staff member can update physical stock quantities quickly and easily using a mobile phone or tablet.
In fact, this can be particularly useful with service trucks carrying a fair amount of inventory as they service more and more accounts. With more service vehicles in the field servicing thousands of new pool and spa customers, the importance of inventory management on service trucks is even more important. Making and identifying each service truck as its own independent warehouse of products allows service departments to manage each truck like managing multiple warehouses in your business inventory software. Use inventory reorder system alerts to identify inventory levels. It is ideal to use case quantities so you don’t have to replenish constantly. If a tech needs filter cleaner on their truck, give them a case on the pallet and let them pull it as needed! This allows your operations person to run inventory reports at their leisure, replenish the stock site as needed, and really keep tight control of inventory. The RB software even allows staff to search inventory by department, vendor, category or by typing any portion of the item’s description. This makes managing inventory, including transferring inventory from trucks to store or between trucks, far easier.
Implementing an inventory plan that includes service trucks will be enhanced by using a mobile technology platform that provides accurate ‘real time’ inventory for increased inventory turns while ensuring inventory levels are at optimum levels. Inventory history will then accurately report gross margin and turn data, resulting in better buying decisions so you are carrying the right inventory at all times.
Adaptability of E-Commerce
Even before the pandemic, consumers were doing more and more online shopping and the spa and pool industry is no exception. Many consumers agree that they are permanently shifting the way they purchase goods, and a digitized means of shopping will likely stick around long after the world has returned to a sense of normalcy. Pool and spa stores know that their customers want e-commerce because it’s easier, less of a hassle, and can be done from the comfort of home.
Unfortunately, many spa and pool businesses were not equipped for an online marketplace. As retailers were forced to quickly create a contactless sales solution, there was an immediate need for e-commerce. For this reason, RB created an easy e-commerce solution/shopping cart feature for existing websites that is fully equipped for easy check-out and curbside pickup or delivery. It’s the perfect tool to make pool sales management easier and simultaneously improves inventory control.
Improving one’s e-commerce store and digital marketing efforts will allow a business to provide customized offers to clients, knowing who bought what and when. This type of information will be extremely helpful this coming season with supply chain shortages, back-orders and long lead times. Having a robust, integrated business software that integrates with a powerful online store, gives pool and hot tub professionals the ability to plan better and smooth out inventory supply issues.
It is also important that pool/hot tub service software supports the businesses’ online store and has pool/hot tub industry integrations so inventory and delivery dates are accurate. Another important component to a businesses’ e-commerce strategy is the ability for customers to be able to order, pay, and arrange for delivery or pick-up of their chemicals/products when they are visiting the online store.
One of the most important features in any e-commerce solution is the curbside pick up option. Curbside pickup, allows your clients to easily and conveniently pick-up the products they want just outside the store. It’s also hugely helpful to inventory control. Part of the convenience comes from the fact that your clients can place their orders at any time, from the convenience of their computer, tablet or mobile device 24/7. Therefore it’s very important for pool and spa retailers to have a convenient, easy to use ordering portal as a part of their website.
The RB shopping cart feature allows businesses to easily sell their products online to customers for either delivery or curbside pickup. By giving customers a completely online experience through this portal, they are able to safely shop, purchase, and have their product delivered to them without risking their health or spending lots of extra time on an errand during a busy day. This feature is ideal for any business that does not currently have or run on a separate eCommerce platform. Even those already with an online presence have been prompted to rethink their business model. The RB shopping cart feature is hugely beneficial to pool and spa owners because it allows their customers to still shop for what they need whether in-person stores are operating at a limited capacity or if clients are simply not comfortable or no longer interested in shopping in person. RB’s shopping cart feature is perfect for those looking to pivot their business into the digital shopping world. Even if you don’t have a website, the shopping cart feature is a completely workable solution for your situation and the importance of inventory management, no matter in the store or online, cannot be understated.
Online Bill-Pay for Cash Flow, Purchasing, and Inventory
Business owners can make online sales seamless by using an online bill payment system that creates a reliable billing process to make it easier and more convenient for customers. Pool and hot tub service companies are investing in online bill pay systems, allowing them to send invoices via email and eliminate the costs for envelopes, stamps, labels, paper, or printer ink. It can also save on labor by eliminating the time it takes for billing and collecting payments.
As retailers retool their e-commerce sites, many find they are using their brick-and-mortar stores as fulfillment centers and mini warehouses. Parking lots can have containers filled with products. Of course you need the cash flow and integrated inventory systems to make smart purchasing decisions. However retailers agree that the shift is redefining how their store is used and are finding they are shifting staff to fulfilling online orders as well as preparing items for curbside and in-store pickup. Retailers also reported that with the onset of the pandemic there was a need to quickly create more space in the retail store and for many this meant removing some of the products from the show floor. For example, items such as toys and maintenance equipment might not be big sellers so they might be removed entirely from the retail floor but can easily sell these products with an ecommerce solution.
Changing With the Times
he trends emerging from our industry clearly show pool and spa professionals are embracing technology to thrive in a marketplace where there’s great demand. It’s important to remember that many of the new clients entering the marketplace are first-time pool and spa owners that are younger and who are comfortable with digital technology. These first-time pool and spa owners are leading the way and driving the need for powerful e-commerce that simplify the shopping process and having an integrated software solution that provides real-time inventory reports 24/7.
This next season, look for a software solution that will help you operate pro-actively, rather than reactively. The goal is to be prepared, plan your inventory, make smart purchasing decisions, reduce stress and sell more!
Understanding the importance of inventory management will help to embrace software technology specifically designed for the pool and spa industry. With inventory control and e-commerce solutions, inventory management software will allow you to quickly embrace all of the new business coming your way.
