Inventory Management System

“A place for everything and everything in its place,” goes the saying. Let’s add to that a label for everything and the means to track it all. And, how about some alerts when there’s too much of one item and a shortage of another? This mix pretty much sums up what inventory management software can do for your business.

Whether you’re running a brick and mortar store, an eCommerce site, a supermarket, or a logistics company, an inventory management system is a must-have. It will give you insights into every aspect of your products, and in some cases, will help you better understand your customers too.

The application you choose should offer all the features that are essential for effective inventory management operations.

Here’s a quick overview of what to look out for:

Maintain just the right amount of inventory for each product, without over- or under-stocking any item. It’s especially useful if you deal in products that experience a seasonal rise and fall in demand.

Receive alerts and notifications when there’s over- or under-stocking beyond a defined threshold. This helps you to place orders or offer promotional discounts to clear out extra stock.

View sales history in the form of a list of your most popular products. This feature also enables you to manage items in your inventory that have not reached the sales levels you expected, for example, by offering discounts on them.

Manage returns more effectively by reducing time-to-return through automation of the entire process.

Group inventory into predefined categories and ensure you’re always updated about quantities of components and specifications that make up your product stock, and manage their reordering schedules as required.

Create a single view of purchase order records. You can easily identify which products are in demand, both perpetually and seasonally, and prepare to meet your customers’ needs.