Inventory management system helps to improve, track and manage product sales and purchases and other processes related to products.
Inventory management system plays a vital role in the success of the organisation.
Shortage of products and excess products both are equally undesirable in a company. Inventory manage systems are a fantastic way to overcome different obstacles in respect of maintaining and managing a company’s inventory.
Inventory management system provides different types of features and tools to enhance the business and work scenario of a company.
Features and tools of Inventory management system are:
- Re-order alert- When the inventory level reaches the predetermined level of reordering the alert appears in the inventory management system.
Reorder alert helps to set a buffer for the product so that it can be easier for the organisation. Less time spent, less manual efforts and increased accuracy are the main features.
- Reports- All the details and information is pulled from the database to create a report with all the major information. It means all the information is gathered regarding inventory, sales, purchasing etc. Reports can be custom and standard. Standard report means it’s already available and custom report means you can create one for yourself.
- Dashboards-Is graphically designed to display different information’s. Information from the database can be viewed from the dashboard. It can be customized according to the requirement of the individuals demand.
- Barcoding and mobile systems- Software’s and hardware’s are the things that allow you assign, scan and manage barcodes. Because of this it becomes easy to conduct, verify and adjust the inventory.
- Integration of systems-An inventory management system can integrate with other management systems also. With the help of this different levels of information regarding purchases, sales, inventory information etc.
Inventory management systems are affordable, easy and quicker. All level of businesses can access benefits of it.