One of the primary reasons you hire us to manage your programs is inventory management.
Our Account Executives, Account Managers and Director of Operations all spend substantial time watching average usage data, slow moving products and seasonal trends. We manage your inventory levels based on current usage data, sales trends and your business forecast. Your program will have dedicated Account Managers to ensure we have sufficient inventory on hand to support your needs.
Our average fill rate is 99.1%. We are proud to say that with our approach to inventory management and analysis, it is a rare occurrence for BIG to have backorders.
Items that are inventoried through BIG are setup with established re-order points based on historical usage either supplied by the client, or by what has been seen in the industry. Additional items we take into consideration are the size of the audience that will be ordering product, the potential program spend and time for production from the specific supplier. Re-order notifications are all systematic and your assigned Account Manager will receive updates at the scheduled intervals determined by the client and BIG. Typically each account with inventory is reviewed at 90-day intervals to determine if re-order points need to be adjusted.
In terms of customer owned inventory, it is important to note Business Impact Group’s retail mentality, which differs from other companies in the industry. Before a new item is launched, Business Impact Group purchases the minimum quantity that is required and places the item online for purchase. Through this process, an order history is documented which helps determine which products will sell and which will not. If certain items are found to be popular, the order history is then utilized to determine the correct amount of product to have available in the warehouse, thus eliminating any obsolescent inventory.
The Inventory Management division of our Fulfillment Center completes daily cycle counts of our highest volume items. We also select random products weekly to audit to ensure our inventory counts are accurate. Any food related or other products that have expiration dates are tracked with FIFO functionality or our software to ensure we are shipping well within the expiration dates. Complete audits of every item in our facility are completed minimally once per year and our higher volume items are audited quarterly at a minimum.
Many of our programs are set up with an online order site allowing for the usage of the latest in today’s eCommerce tools. We have several specialized software products that allow BIG to address a wide range of client needs.
Below are the significant and unique features of our software products:
- Automatic order status updates: The order status is updated in real-time and users are notified via email, in addition to being able to check order status online themselves.
- Real-time inventory: Inventory is shown on each product as real-time so that each login shows current inventory levels.
- Budget and spending controls: A budget or spend can be set-up at a group and individual level to track and control online spending.
- Order approval process: An approval process is available to groups or users who want to approve a submitted order before it is processed.
- Variable product and print ordering: Our online platform offers variable input for both print and products offered on the platform. This allows ease of ordering when product and print personalization is desired.
- Variable checkout capabilities: BIG offers different types of checkout capabilities including PO, credit card, and budget checkout options. Each option can be set-up, per a specific group’s needs.
- Dedicated BIG support team: A dedicated customer service phone number and email address is set-up to address support needs. Also, a specific team of account managers is assigned to the account to oversee any online needs, questions or issues.