Every business needs to manage inventory, whether those items are office supplies, raw materials for production, or the actual products to sell. Businesses that need an Inventory Management System (IMS) more are usually those who are involved in the supply chain such as manufacturing, retail store and distribution, and warehouses. If you are part of this industry, you might be well aware of the usual problems such as stock-outs, missing inventory, and time-consuming inventory quantity monitoring.
Inventory Management System
The inventory management system is one of the most acquired applications simply because it is necessary for businesses involved in buying and selling products. The system supervises the flow of operations from acquisition, to manufacturing, to warehouses, and retail and distribution.
There are thousands of software that you can choose from. The following are the top key features to consider when getting inventory management software:
- User-friendly and accessibility
- Easy transfer between locations
- Inventory level alert
- Barcode scanning
- Real-time tracking/Visibility
User-friendly and accessibility
Not everyone is tech-savvy and it just makes sense to get a system that is easy to use and understand to avoid cost on training and mistakes. It is also helpful when the inventory data is available to access on mobile, laptop or desktop so you can view any information and make decisions anytime
Easy transfer between locations
Transferring items from one location to another is a tedious process because it requires different information to be transferred as well. When it is done manually, you need to type in a lot of information in both locations so everything is accounted for. But with the help of software, collecting information like this can be done in just a few clicks.
Inventory level alert
To avoid stockouts, having an alert whenever the inventory level reaches a certain threshold is a big plus. This will prompt you to reorder more items to fill in the low-level inventory.
With a barcode scanner, you do pretty much everything. You can simplify inventory management by tracking your products and location by using a barcode scanner.
Having visibility over your inventory is a huge time saver. Just by using a search field, you can find an item and see where it is in the warehouse. There’s a new and very innovative way to have visibility over your entire inventory even you have multiple locations, and this is called Inventory Map.
Multiple locations using different systems lead to poor data sharing and poor decision-making. Using a centralized map that represents the business, whether you have multiple warehouses, manufacturing facilities or retail locations makes everything connected and accounted for. It will also help decision-makers gather accurate information and have more understanding of what’s going on with the business operations.
Aside from the smooth flow of information, having a map greatly helps in inventory visibility. You can easily check items in different locations and find things quickly in just a few clicks.
Business with an enormous number of inventories requires more manpower if they will rely on manual tracking of everything. Doing everything manually also leads to human error and means more cost to your business.
Relying on an inventory management system requires more investment. But with the features available, it’s worth it. Everything can be automated, and you can get all the information quickly wherever you are in just a few clicks.
Using the Inventory Map, you can get all the visibility you need to locate everything in your inventory. It helps save a lot of time and effort.