What is an Inventory Management System
March 4, 2020
What is an Inventory Management System?
An Inventory Management System is a software used to track goods across any business’s supply chain. It tracks the order placement with your vendor to order delivery to your customer, keeping a track of the complete journey of a product or a material.
The Inventory Sofware provides complete transparency to the business gods, this transparency results in a big impact on the bottom line of business. Business with Inventory Management System can invest their time & money in other work and make the process more efficient.
Here’s a quick overview of what to look out for:
Materials Inventory optimization:
It helps you maintain the correct set of products in your warehouse. Inventory software helps you maintain the products without overstocking or understocking them, this helps to save the money which is spent in the manufacturing of the products as the software helps to not overstock them.
Report generation:
Inventory Software generates reports for every single product available in your warehouse. This helps you to view the reports in the form of product history, quality of sales of a particular product and many more.
Material grouping:
If you have a manufacturing business, you require multiple items or materials to manufacture your products. Inventory software makes your manufacturing process simple by grouping every item or material in a specific category that eventually makes it easy to find them and makes the manufacturing process faster.
Purchase order records:
Creating a list of the purchase orders is very easy with the inventory management software. Simply create a purchase order list and compare the products which are in demand seasonally or regularly.
Barcode scanning:
Just scan your item and materials and all the information of the particular item will be displayed on your screen. Thanks to the integrated barcode scanning feature inside the software.
Alerts & Notifications:
Set your threshold of the items or materials and inventory software will alert you before the particular item or material goes out of stock. This helps in the unnecessary stoppage of the manufacturing process because of the unavailability of the materials in stock.
Multilocation management:
Have more than one warehouse? Inventory System makes it easy to manage multiple warehouses. Warehouses from all the locations can be integrated into a single inventory management system.
Finding the right inventory management system
If you’re searching for the right Inventory Management Software to suit your business needs, visit the Trigun Infotech to compare options from other products.
Contact us at:
+91 22 42166000
Visit us:
209, 2nd Floor,
Concorde Building, Plot No. 66A, Sector 11,
CBD Belapur - 400614 Navi Mumbai (India)