Key Features Of An Effective Inventory Management Software

Every business concern involving in inventory management should ideally have effective inventory management software. This would take care of all the tasks related to inventory management of the firm. From tracking the inventory to shipping, there are many aspects of inventory management that need to be taken care of.

Here are some basic elements that have to be ensured when you search for inventory management software for your firm.

Warehouse management

The warehouse management tool centralizes the functions of the business. The data fed in the software is synced with other management modules. This, in turn, makes it easier for effective overall functioning of the business. Warehouse management includes aspects like product categorization, product measurement, product history, stock management, vendor management and e-commerce management.

Barcoding and tagging

Barcoding of the inventory is one of the main functions of any inventory management software. It enhances efficiency by reducing human errors and enabling better business processing. There are small companies who still follow the traditional methods of manually recording the product details. However, most of the business today adopt a barcoding system.

Transfer management

There would be business that operate from multiple locations and branches. For these enterprises, transfer management plays a crucial role. Transfer management consists of tasks such as multiple location tracking, order picking, stock transfer and product bundling.

Order management

Some functions within the order management are managing quotations and sales orders, order tracking, order editing, and customer pricing. This feature is essential to ensure the smooth functioning of the system and thus make sure that the customers are happy too.

Analysis & report generation

A great inventory management software system should equip the scope of analytics and reporting. Thus, this helps in better planning and delivering, making the business profitable. You can make better decisions if the tracking and analysing of the business are regular.  Make sure your inventory system has this provision.

Mobile support

A fully aided inventory management system will be compatible with multiple devices, especially mobile phones. Since it is easier to access the data if synced with your mobile, this features is definitely something to look for in a full-fledged inventory management software.

The business has to take care of these specific functional areas while searching for the perfect ERP software for your inventory management. FACTS offers complete support for your business, ensuring that you manage your transactions smoothly and efficiently.