Guide: How to Find The Perfect Inventory Management Software Tools

Not sure what are the key tools of a inventory management software? Read this article and find out what traits are best when choosing an inventory management software  in 2017.

The value of inventory management software cannot be emphasized much for eCommerce and online retail brands. Precise inventory monitoring allows brands to satisfy requests on time and correctly. And as brands develop out of small warehouse space and into larger departments, so does the necessity to effectively manage inventory.

An efficient inventory management system is the foundation of a thriving eCommerce and online retail brands. With a set of great inventory management software tools, and a strategic policy in place that evolves the process of managed inventory, businesses can achieve advantages that include:

Procurement Orders and Reorder control  – Automated procurement order generation can be done by the inventory management software. The tool is measuring the inventory level and processes a report where staff can initiate instant procurement.

Supply Monitoring and supervision – Using your warehouse with a manually written system or just randomly filled products on a shelf is now history. With IMS you can narrow down each product placement to a specific row, aisle and shelf number. That way, you can always monitor and supervise your supply and nothing will ever be missing.

Supply Chain Tracking – Can you imagine not knowing what is your product location in the supply chain? It’s a hassle not having that info as any product movement trough the supply chain is at expense of the company.

POS System & Barcodes – These are the frontline tools of a quality inventory management software. Think about how much paper you are saving on, as well as human error. POS and Barcodes make the tracking so much easier by a simple scan, and you have all the product information at disposal.

Supplier and procurement tracking – While it seems like something we’ve mentioned above, this tool of the IMS is mostly focused on monitoring and reporting on the vendors and companies that are your suppliers. Providing you with basic information, data from their IMS in case you want to place an order, transportation tracking etc.

Mobile and APP Integration – Nowadays, it’s very important you have the control right in your pocket. The retail industry is following that trend as well, by shopping via your phone you provide and get all the data to an IMS cloud system or internal applications.

Alerts – If something goes wrong or you need a reminder, the inventory management softer tools will alert you trough one or more channels with a report that explains what is needed to be done. It can be email, phone notification, or a Pop Up on your PC screen.

Analytics – Analyzing the information that is processed is a key point and definitely the best tool of each IMS. Analyzes can provide you with various in-depth reports that will help you if an important decision is needed.

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