Inventory management is a process that helps in tracking and managing stocked goods. It helps businesses to manage the constant flow of goods and prevent the excess flow of goods or declining them to levels that can create a problem for the company. Thus, making inventory management crucial not just for retail stores (both online and offline) but also for every business that needs to keep stock of goods, be it raw material or finished products. You can also know more about the inventory management system and ERP software via DEAR Systems.
Choosing the best inventory management software can be tricky. To make it easier for you, here is a list of things that good inventory management software should have –
Inventory Tracking: While choosing the best inventory management software, make sure the software comes with an inventory tracking feature. It is one of the primary functions of such software. This feature will not only let you track the stock in your warehouse but will also keep you updated about received goods and the number of fulfilled consignments.
Warehouse Management: If you have warehouses located in different locations, managing them manually is not possible. While choosing software, you must make sure that it comes with a warehouse management feature. This feature lets you keep track of the stock level, manage inter-warehouse transfer and generate reports of each warehouse, irrespective of their location
Data Importing & Exporting: Most of you might be using spreadsheets or free-online tool to manage the inventory. However, if you are planning to deploy a robust system for managing the inventory, make sure the software you choose comes with data importing and exporting features. This will let you import or export data that you have been maintaining. Also, the software must be capable of storing the data in the same format that you have been maintaining.