July 18, 2024


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What to look for in the best inventory management software

3 min read

Noted for their artificial intelligent working, the inventory management software of these days can automate most of your warehouse management, orders, tracking and supply chain. Their in-built robust functions can help you streamline your operations and drive professionalism across your various business functions. An intelligent inventory management software can let you keep track of your stocks, orders and sales in real time so that your planning is effective and management is efficient.

When you try to choose the right inventory management software for your business, there are a large number of options in front of you. Nevertheless, apply these filters to check if they are the right pick for you during the present times. In other words, these are the minimum features your inventory management software must come with.

Warehouse set-up function
The most important component to look for in a good inventory management software is the functions to set up the warehouse. This will have provisions to input all your stocks and digitalize them for easy management even from remote locations. Check if package definition and warehouse set-up features and up-to-date in the software you choose.

Integration of inward processes
The nest crucial function you must find in a good inventory management software is integration of inward processes. In most high end software of this type, you can manage this function through handheld wireless devices. This is one of the most desirable characteristics to expect.

Movement tracking
Second to none in terms of its importance, movement tracking is a great function that will come in handy to stay up-to-date about the sales and dispatch at any given moment. You must check if the software can track movement by location and also give movement instructions on handheld devices.

Automation of outward processes
This segment will take care of customer sales orders, list of items to pick, automatic allocation of pick up lists, pick up confirmation and automated delivery notes. This segment will give you a winning edge over managing the supply chain and supply processes.

Inventory management protocol
Inventory management is perhaps a highly sought after function in an inventory management software any inventory management experts will recommend. The various functions to expect under this segment include cyclic counting, perpetual counting, physical stocks, stock adjustments, and ownership transfer.

Convenient billing function
The billing functions of an inventory management software of our times come integrated with ERP systems and you get monthly, weekly and daily billing options as per your choice and convenience.

Security features
The various security features you must not overlook in a good inventory management software are security at the user level, security at the admin level, and network policy definitions. Any software lacking these security features is not good to pick.

Automated reporting tools
Some of the automated reporting functions to expect in an inventory management software are information about the storer, details of stock, expiry dates and billing reports. When you seek to run a demo of the software you want to consider, keep this checklist to ensure all these options are found in the software you invest in.

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