Inventory Management System

An inventory management system (or inventory system) is the process by which you track your goods throughout your entire supply chain, from purchasing to production to end sales. It governs how you approach inventory management for your business.
As a part of your supply chain, inventory management includes aspects such as controlling and overseeing purchases from suppliers as well as customers maintaining the storage of stock, controlling the amount of product for sale, and order fulfillment.
Features of Inventory Management System
Order management
Asset tracking
Inventory optimization
Cost saving
Saves time

Here are some signs that it might be time to upgrade.

Spreadsheets are an inflexible way to manage inventory. If you find that you need to add extra sheets to your solution, or are struggling because employees can’t access real-time data, then it might be time to upgrade to cloud-based inventory software.

Do you find it difficult to track how much of a particular item you have at any one time? Using a dedicated solution, you — and your employees — will be able to get up-to-date information on your inventory at any time, from any place.

Holding costs can severely undermine your bottom line when they are not kept under control. The key to minimising holding costs is only to store as much stock as you need. An efficient inventory management system helps you keep your storage efficient.

Maybe your salespeople have to contact your stockroom to get find out what they have to sell, or you find yourself spending too much time manually writing reports rather than focusing on your customers. Slowing sales can be a symptom of poorly managed stock — dedicated software can help you quickly return to growth.

Benefits of Inventory Management

Achieve efficiency and productivity in operations.
Minimise inventory costs and maximize sales & profits.
Integrate your entire business.
Automation of manual tasks.
Maintain customer happiness.

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