Have you ever made a $10,000+ mistake? Todd has and he’s here to warn you against making the same costly error.
A huge part of the profitability game is keeping your inventory in-stock. To manage his inventory, Todd uses a program called ReStockPro. While RestockPro is a great product, Todd recently discovered a small, but costly, bug.
When ordering product, Todd creates a purchase order in RestockPro and then sends the orders over to his suppliers. When Todd receives the product, he then updates the purchase order in RestockPro with the product that he’s received.
Previously, if the product was in back-order, Todd would keep the purchase order open until he received the product.
Unfortunately, when he was leaving this purchase order open, RestockPro was marking that inventory as still on order. Even items that he’d entered as having received were showing as on order because the purchase order wasn’t closed.
Todd only discovered this bug when he noticed that a fast-selling product was out of stock. That sounded odd, so Todd dug deeper and found that over $10,000 of product that he needed to order was out of stock. That’s because RestockPro wasn’t suggesting products from open POs in the suggested reorder page…even products Todd had long since shipped to Amazon and subsequently sold out of.
Moral Of The Story
RestockPro is a great product but, especially considering one of Todd’s largest suppliers frequently sends back-ordered products, this bug cost Todd big-time. Sometimes paying attention to small details can save you a small fortune.
Stay selling but stay vigilante wholesalers.