Inventory Management Software
Choosing An Inventory Management System
If you know the ins-and-outs of inventory management, then you know how cumbersome things can be. The goal of inventory management software is to provide a simplified and sustainable system for keeping track of your products. Regardless of size, most companies require some sort of inventory management, so the number of inventory management softwares currently available on the market comes at no surprise.
Inventory Management Software Features
Inventory management software, also known as warehouse management software, keeps yous your business on track with various features all aimed at boosting the efficiency and reliability of your tracked product flows. Most inventory management systems have the same basic functionalities, but when figuring out which inventory management software is best for your company the following features should be thoroughly researched.
Improved Inventory Control and Forecasting/Projection
How extensive is the system? Can it effectively anticipate future inventory demands
Barcoding & Scanning
Is the system capable of properly tracking inventory activities?
Improved, Actionable Inventory Analysis
Is the information provided within the inventory management system presented in a way that allows immediate action to be taken?
How well and how much customization is needed to implement the software without moving too far from existing operational procedures?
Integration and Interfaces
Can the inventory management software connect to other applications? Such as POS, Website, Accounting, etc
On-Premise VS. Software as a Service and Cloud System
This is also a key factor to be taken into account and is contingent upon your specific needs. i.e number of users and data capacity
There are many factors to take into consideration.
The number of users, inventory type and volume, budget, equipment and integrations are also things to consider when choosing your inventory software.
Making a solid choice on which inventory management system would be best for your business can be as easy, or as hard as you make it given the number of different options available. If not for its automation and high level of customization, we recommend Odoo to our clients for its scalability and interconnectivity with other platforms and applications.
To read our blog on Odoo Inventory Click Here
Businesses typically cite a lack of adaptability as an issue with most inventory management software. But out of the several inventory management softwares that we know of, Odoo has the most impressive features. Odoo Inventory enables smart, efficient and reliable inventory management by optimizing inventory turnover and avoiding unexpected inventory shortages.