What is an Inventory Management System?
An inventory management system may be a combination of technology (hardware and software), processes and procedures that supervise the upkeep of stocked inventory or products. These products could be assets, raw materials, and supplies, or finished products ready to be sent to the vendors or end consumers.
Inventory management software consists of a system for recognizing every product or item, along with the basic information of the product. It consists of hardware tools for reading barcode labels like handheld barcode scanners or smartphones with scanning applications.
Inventory management software provides a primary database and the source of reference for all the inventory products, along with the ability to analyze data, create reports, predict future demands and much more. Inventory management also has processes and policies for labeling, documentation, and reporting.
What is the role of inventory management system software?
An inventory management system software is a tool that helps to track goods across your business supply chain. It optimizes the inventory spectrum starting from placing the orders with vendors to order-delivering to the customers, mapping the complete journey of the product.
The transparency provided by the inventory management software has an impact on the bottom line of the business. Accurately tracking goods, businesses can decrease waste, analyze trends, and make better stake decisions.
Some of the best Inventory Management Software with their well-known features are:
ZapERP Inventory Management Simplified
ZapERP inventory management software is a fully-featured inventory management solution for your business. It manages all your products in one single place and captures every detail about your inventory, delivering the most accurate and up-to-date figures and analysis about your product.
The data of the product of your company sync with all the other modules in the inventory system to increase productivity and collaboration among the team working from separate places.
The well-known features of ZapERP Inventory Management system software are:
1. Multichannel Order Management: The products that you receive can also be managed on multiple platforms. Zap inventory integrates with leading eCommerce platforms like WooCommerce, Shopify, or Magento and online marketplaces like Amazon.
2. Efficient order processing process: This is an efficient order processing workflow to bring sales orders from all your sales channels into one particular channel. Your inventory can be managed the way you want it to be managed. All your online orders can be fulfilled from one single location or multiple stores- all configured in one system.
3. Accounting Integration: ZapERP uses the Xero Inventory Management System, which automates your inventory management system & takes care of tedious, time-consuming processes on your behalf. It auto synchronizes items and products according to your need.
4. Seamless Shipping Management software: This easily helps in shipping every customer order. It helps to import all orders from all kinds of sales channels, shipping hundreds of orders in minutes with just a click on the ZapERP inventory’s shipping management.
Focus Solution is a completed automated inventory management software and a well-equipped warehouse inventory management software. It reduces order processing time, increases demand and distribution responsiveness. It is very suitable for warehouses and storage facilities of all sizes. It also provides valuable insights needed to control warehouse and storage facilities of all sizes.
Some of the unique features of the Focus Warehouse Management System are:
1. Multi-location Warehouses: SKU package definition and complete warehouse set-up. Manage multi-location warehouses through a unified database that forestalls the formation of knowledge silos and avoids duplication.
2. Multiple Currencies: Monitor dealings in multiple currencies through their inventory management ERP module and ensure smooth transactions.
3. Attributes: Maintain your inventory that is supported on various attributes that you could simply define and customize, making the picking easier and less time-consuming.
4. Automated Process: For stock allocation and transfer make it easy for you to reconcile stock and keep an eye on all movements, inside and outside the warehouse.
Zoho Inventory Management System Software
Zoho is a unique and powerful suite of software that runs your entire business, by the company with the long-term vision to transform the working system.
Some of the unique features of the Zoho inventory management features are:
1. Reporting and Analytics: A fall in sales, poor customer retention, and failed sales targets are a bad scene for a business to go through. But when we come across them later, the matter becomes even worse. But with Zoho inventory, it becomes easier to stay updated on your daily sales, find the bestsellers, and keep tabs on customers’ balances.
2. Know their worth: When you have a growing list of things, it is often overwhelming to trace the journey of every batch of stock, then match it with the right invoice and bill number. On the other hand, valuation of your stock on a hand involves a lot of hard work. With Zoho Inventory, you can quickly generate FIFO and inventory detail reports without manual work.
Netsuite ERP Inventory Management Software
Netsuite has allowed businesses to focus on what they are best at, and they react to new market opportunities swiftly and confidently, starting from financial services to supply chain management and billing, NetSuite ERP gives companies and organizations clear visibility and control of their business.
Features of NetSuite Inventory Management software are:
1. Financial Management: It combines hefty financial management that already has built-in business to make quick decision-making.
2. Financial Planning: Lessens cycle times, and engages in more business users to enrich the planning process with insightful planning, budgeting, and forecasting solutions.
3. Order Management: Order management accelerates the ordering process by tying sales, finance, and fulfillment to pricing to return management.
4. Production Management: Market your products quickly and efficiently by increasing real-time visibility into the production management process.
These are the top inventory management software that helps to manage the inventories of the products of companies and organizations with their special features, that makes them unique and out-of-the-box.