The stock of physical goods in an organization for packaging, transformation, use or sale can be said as inventory.
The computer-based system developed for managing the above stock is termed as Inventory Management System.
The backbone of any business:
In the earlier days calculation of inventory was not easy. Writing purchases and units gone at the end of the day was the only method.
Development of technology and availability of new concept software’s is a reason associated with the revolutionary change in management.
The use of mobile devices, barcode scanner, printers is various ways technology helps an organization.
Benefits of Inventory management:
- Protecting from shortage or shrinkage of stock
- Accountability of staff
Receiving and shipping are the two main functions of Inventory Management System.
How does inventory management system work?
Efficiently tracking quantities and having an insight of the inventories at different locations is the main goal of the inventory system. Different points on inventory application and functionality are:
- Work- in- progress
- Create sales order
- Pick, pack, ship
- Print barcode label
All Inventory Management System are different. They are configurable and can be changed according to your business environment. Personalization of data according to your aspects of a business can be done.
The accuracy of data entry and searching of entry units using mobile barcode scanners have made everything easy.
Standardize inventory tasks. Spend less time on inventory management control.
To prevent unauthorized user access by simplifying the workflow and setting specific role based permissions.
No need of generating purchase orders at the time of receiving inventory.
You can edit your fields and records in the inventory software as your reach and demand.
Inventory management system allows you only to add those features according to your business demand and your needs.
In any business or organization, every aspect is interlinked and connected to each other. For controlling and maintaining Inventory management system is a powerful tool.