Having the right amount of inventory is a big headache for small business. The bottom 30% of businesses have nine times more inventory than their top 20% performing peers. Furthermore, they are seven times more likely to be in a stockout situation. In other words, small businesses often have too much of what they do not need and too little of what they do need.
At their very core, today's Enterprise Resource Planning (ERP) platforms are using outdated models to set reorder points. For example, QuickBooks uses manual arbitrary settings while Sage, Microsoft, and SAP rely on ABCD catagories and the Economic Order Quantity formula developed in 1913. What all these methods have in common is that they make it difficult to have the right amount of inventory.
Phitch solves the obvious problem others have ignored by setting reorder points at the point of maximum economic profit and communicates the status of each inventory item relative to this point with easy to understand color coded alerts.
Do not be fooled by imitators who still use arbitrary settings.
Phitch makes it easy to do inventory right.