Effective inventory management keeps a business operating smoothly. It’s an essential resource for any business that stocks goods, and this includes artworks. Inventory management software has become the gold standard for tracking and having greater visibility over your stock.  

What is inventory management software? 

A manual inventory management system tends to be a labour-intensive time thief that can leave you with little space or energy to devote to other important aspects of the business, such as customer nurture, marketing and selling. Inventory management software automates these manual processes, integrating and streamlining all the tasks you associate with inventory management. This saves you – and anyone else responsible for the inventory – time.  

Most inventory management software is cloud based. This means you can access a detailed view of your inventory in real time. It also means you can view your inventory on any device at any time, wherever you are.   

The key benefits of inventory management software for your gallery 

1. Improved visibility – you can manage your inventory via one, easily accessible interface that can integrate seamlessly with your existing systems and applications. This provides clear visibility of stock and stock movement, allowing you to check the status of your inventory at any time on a device of your choosing – all you need is a secure internet connection.  
    

2. Higher productivity – inventory management software is designed to help you keep your inventory organised and up to date, which means you can process and manage more orders and actions in less time. As the system is integrated and updated in real time, you won’t accidentally repeat tasks or create errors you need to go back and fix. The automation will reduce the time it would take you to manually audit, track, update and process your inventory. Using just one platform, accessible from anywhere, you can do everything from finding a supplier’s information to processing invoices.  
     

3. Greater accuracy – as with performing any tasks manually, errors may slip in and just one error can be time-consuming or even costly to put right. Inventory management software streamlines many of the processes that, if they were done manually, would be highly susceptible to human error. The information on the stock you hold will also be more accurate through regular updates.   
    

4. Better business insights – data is crucial to inform your sales and marketing strategy decisions. Inventory management software will provide you with real-time, accurate data and, ultimately, better insights that can be fed back into the business. For example, you’ll be able to see what sells well and what doesn’t, and what has been most profitable over time, and this information can steer your investment decisions. Better business insights = higher profitability.   

Implementing inventory management software

A cloud-based art gallery management solution like Cubist Cloud enables you to track, find, reserve, edit and sell stock at any time via one, user-friendly interface. You can store up to 5,000 artworks and output everything from catalogues to invoices.  

The inventory management function makes it easy to add and remove items, take actions such as assign an owner to a stock item or loan an artwork, fulfil orders, edit stock items in bulk to increase efficiency, and much more.  

To learn more about Cubist Cloud and how its inventory management feature can work for you, contact our team today.