Best Inventory Management Software For Your Business

Inventory management software

Inventory Management Software

Businesses that properly manage their inventory generate the highest income and customer satisfaction for the least amount of stock investment. And, as those successful businesses demonstrate, excellent inventory management relies on data from a variety of sources, including purchases, reorders, shipping, warehousing, storage, receiving, customer satisfaction, loss prevention, stock turnover, and more. Fortunately, Organizations can better fulfill consumer demand and prevent overstocking or stockouts by keeping track of all incoming and outgoing products with the use of inventory management software and help you expand as your business grows, giving you a competitive advantage.

Common Inventory Management challenges faced by every business:

  1. Using a spreadsheet to track inventory is time-consuming, redundant, and error-prone.
  2. Maintaining warehouse effectiveness is a labor-intensive process with several phases.
  3. Customer demand fluctuates often, making it challenging to develop the best order strategies to meet demands.
  4. Inventory is challenging to find or identify in the warehouse, which results in shipments that are incomplete, incorrect, or delayed.
  5. Global supply chains are always changing, which makes it difficult for you to plan and manage your inventory.
  6. Overstock negatively affects a company’s cash flow and causes issues with storage and loss of inventory. 

Features you should consider in your Inventory Management Software

  • Advanced User Interface- One of the most important features is the simple user interface, which allows you to access your dashboards and follow instructions from anywhere.
  • Inventory tracking- To track each product’s mobility while keeping a record of its activities with a special barcode.
  • Multi-warehouse Management- It should make it simple to handle items across numerous sites and track inter-warehouse transfers.
  • Advance Routing – Smart Routing system that allows you to distribute items, and orders, straight to customers from your source.
  • Push and Pull Routing – a feature that designs your product routes to automate transfer orders between warehouses or locations.
  • Alert and schedule- Create product or supplier alerts for salespeople and a scheduler that will initiate all actions for you depending on product availability and order estimates.
  • Stock Management – Feature to automatically start calculating future demands and trigger a request for quotation.
  • Product Categorization- Categorize products that have different behaviors: physical products, consumables, services, and digital products to create a custom bundle and maximize sales.
  • Reporting and analytics- Obtain product availability forecasts based on actual sales orders, procurement orders, manufacture orders, and internal movements with Inventory management software.
  • Inventory Valuation- Your Inventory management software should support costing techniques and landing costs for accurate inventory value.

Powerful Integrations with Right Inventory Management Software-

  • Accounting- Integrate your accounting software with your inventory management software to automate the real-time effect of inventory activities.
  • Purchase – With only a few clicks, you can automate the proposal of purchase orders and manage the items that come from your suppliers.
  • Quality – Create quality control points simply and activate quality alarms.
  • Sales- Plan all of your inventory activities automatically depending on sales orders.
  • Shipping Connectors – You can monitor and trace your packages by integrating the shipping connections.

Benefits Of Inventory Management Software – 

  •  Produces reports on deadstock, shortages, surplus inventory, and inventory turnover.
  •  Creates, monitors, resolves, and links sales and purchase orders.
  • Natively integrate with or include modules for necessary functionalities.
  • Eliminate Manual Data entry.
  • Track loading goods and stock.
  • Allows staff to make informed decisions about material requirements.
  • Give a summary of all inventory transactions.
  • Displays the status of picking and packaging.
  • Save time and money.
  • Increased Customer Satisfaction. 

Why Choose Us?

  • Partnership – We are valued as Odoo Gold partners.
  • Expertise- We have Over 3 decades of industrial and technical competence.
  • Versatility- We have completed 350+ deployments across several industries and sectors, allowing us to provide you with the most customized service available.
  •  Award winner- We have won “Best Odoo Gold Partners” four times (2022, 2021, 2018, 2016 & 2014)
  • Expert Developer Team- Our team consists of 250+ seasoned Odoo professionals with years of experience who are experts in their fields, vigilant about deadlines, and dedicated to going above and beyond for clients.
  • Support- Our support team is available round the clock to help you

To know more about Inventory Software Management (Odoo inventory software) or want to book a demo, Contact us today!