Cross-border trade made easy with multi-location, multicurrency inventory

With the power of advanced inventory features, Australia and New Zealand’s wholesale trade and retail businesses are finding it even easier to go global.

Products ship from offshore suppliers to local warehouses, only to be then delivered to the doorstep of consumers all over the world every day.

This convoluted web of shipping and logistics can make tracking inventory something of a nightmare for wholesale distributors and retail operators, as they work to integrate multiple layers of software.

It’s not uncommon for some businesses to use a separate inventory, POS and accounting software to map the end-to-end flow of product from manufacturer to customer – a scenario that often incurs significant costs in downtime, data duplication errors, training and troubleshooting

For other businesses, they’re able to achieve all of this and more with the help a single, robust system.

Multi-location and multicurrency: Delivered

For MYOB customer and pharmacy distributor Gavin Dunbar, multi-location functionality is one of the business-critical elements of his inventory system.

And he’s now able to access it from directly within MYOB AccountRight, an online and desktop-based accounting system for small to medium businesses.

“We manufacture in China and have warehouses across Australia,” said Dunbar.

“Prior to having this functionality available from within MYOB software we used a third-party plug-in app, which cost around $10,000.”

With this system in place, Dunbar created multiple virtual ‘warehouses’ for each territory manager, so they can easily track who has what stock.

The system has made it significantly easier for him to manage inventory in a complex trading environment.

For business owners such as Dunbar, enabling multi-location means saving time for business owners, as well as money.

Multi-location and multicurrency features mean businesses can:

• Accurately count and track stock across multiple locations
• Pick and monitor stock from any location
• Track purchases, sales and billing information from any location in any currency

“At MYOB we pride ourselves on innovating within our existing products, so our customers get what they need without being charged extra or forced to move between platforms,” said David Weickhardt, MYOB’s GM of Product.

“We know that many businesses across a number of sectors keep their stock in different locations, which can lead to confusion around exactly what stock is being held where.

“Having access to both multi-location and multi-currency makes it much easier for MYOB AccountRight customers to have a holistic view of their business,” said Weickhardt.

The latest version of MYOB AccountRight now has everything you need to expand and streamline your wholesale or retail operations across borders. Sign up for a FREE trial today.