Senior.com Enhances Inventory Management with Finale Inventory
Technology Category
- Functional Applications - Inventory Management Systems
Applicable Industries
- Education
- Equipment & Machinery
Applicable Functions
- Procurement
- Warehouse & Inventory Management
Use Cases
- Inventory Management
- Picking, Sorting & Positioning
About The Customer
Senior.com is a product and service-based company that was founded in 2005. The company is focused on providing the right tools and education to seniors aged 55 and older, with the aim of creating an environment that allows seniors to live longer while improving their quality of life. In 2016, the company shifted to eCommerce, which led to a rapid expansion in the number of suppliers and SKUs they managed. This expansion presented significant challenges in inventory management, which they addressed by implementing Finale Inventory's Purchase Orders.
The Challenge
Senior.com, a company focused on providing products and services for seniors aged 55 and older, faced significant challenges in managing their inventory as they transitioned to eCommerce in 2016. Initially, the company managed its inventory through spreadsheets and manual counting. However, as the company grew, this method became increasingly inefficient and unable to keep up with the volume of inventory required to run the company effectively. The company started with a few suppliers and SKUs, but quickly expanded, making the spreadsheet method even more inadequate. Furthermore, the company discovered that they were being overbilled by suppliers, identifying nearly $50,000 worth of overbilled invoices.
The Solution
Senior.com adopted Finale Inventory's Purchase Orders to manage their inventory more effectively. This solution allowed them to add negotiated cost information for each SKU, making it easier to identify inaccurate vendor bills. The company also used Finale Inventory for accurate, up-to-date stock details, which became an important aspect of their day-to-day operations. The customer support team, in particular, relied heavily on Finale Inventory. In addition to accurate stock levels, Senior.com also utilized the reporting features within Finale Inventory. These features, including inventory valuation and various other stock reports, helped them manage their inventory more effectively. The implementation of Finale Inventory was seamless for Senior.com, with customer service being a major selling point.
Operational Impact
Quantitative Benefit
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