Thursday, July 24, 2008

What is inventory management software?

Inventory management software is a system for tracking and reporting on the use and distribution of supplies or products. Software suitable for larger, multi-location operations is sometimes referred to as warehouse management software, but it generally performs the same functions on a larger scale.

Inventory management software features
Before you start investigating inventory management software, decide which features are most important to your business. Here are some of the standard features you should expect:

  • Inventory control – sets locations and shelf or bin numbers for each item in inventory. Tracks incoming and expiration dates as applicable.
  • Shipping – creates or imports sales orders to generate pick lists, packing slips, and shipping information. First in, first out (FIFO) or last in, first out (LIFO) as appropriate.
  • Receiving – manages the placement of incoming inventory, generates put lists.
  • Multiple units of measure – allows incoming items to be measured in pallets, but outgoing to be measured in cases or individual pieces.

More complex inventory management systems add workforce and warehouse management features, helping you create the most efficient approaches to both daily tasks and long-term planning.

4 comments:

Ethan Mudgett said...

“Before you start investigating inventory management software, decide which features are most important to your business.” – You just always want the best for your business. Choosing from a variety of software can be intimidating. Remember that each program works best under a specific kind of system, and what works for one business won’t necessarily work for the other. That is because each and every business is built differently, and therefore requires a different supporting system to work efficiently.

Ethan Mudgett

Peter Phillips said...

Great post and this inventory software seem to be very useful. I also have read about Craft Software which is extremely useful for handicraft business.

cstoreoffice1 said...

Inventory Management Softwareis a computer-based system for tracking inventory levels, orders, sales and deliveries it's helpful to manage business Inventory effectively!

Radha Misra said...

Posist Technologies Is a Point Of Sale (POS) Service system for the fast Service and Fast Casual Restaurants and Food outlet Service operator. This software to run your POS is add as a Service Restaurant Management Software with no up front cost and lowest initial capital expenditure in the industry