Inventory Management software in 2021

There are plenty of features related to stock management software that will help you out in running your business smoothly. It provides you with a smooth and efficient working platform so that you can carry out more functions in less time-

Barcode scanning- To label and identify the products easily inventory management software is integrated with barcode scanning. This helps in easy tracking and identifying the products. 

Stock optimisation- This feature of stock management software helps to maintain the right number of inventory for any product without increasing or decreasing the amount of any good. This feature is very helpful for those who deal in such products which have seasonal demand.

Inventory notification- This feature sends notifications about the items which are over or understocked. This helps the company to order new stock or offer discounts to clear the existing lot.

Generation of report- Inventory management software shows all the sales history in the form of a list for all the popular products. With the help of this feature, you can also clear the existing stock of that product which has not performed well in the market by offering discounts. 

Multilocation administration- Stock management software allows you to manage multiple warehouses and points of sales by integrating all the data in one software.  

Stocks replace handling- This feature of the software automates all the processes related to returning stock items. This helps in managing returns more effectively by decreasing the time to return. 

Grouping of material- Inventory management software helps you to group all the products into predefined categories this helps in keeping you up to date about the quantities of components and specifications of the product that make up your inventory and reordering of the items also becomes an easy process. 

Records of the purchased order- This software creates a single view of all the purchase records. This helps the sales team to decide which products are in demand seasonally and continuously. This prepares the company to meet its customer needs. 

Warehouse Management- This feature of stock management software helps you to upgrade your warehouse stock and record the exact location of each and every product’s location. All this information is displayed in a single window. 

Demand forecasting- Inventory management software has a feature that allows you to have a look at the past demands of all your goods, this helps in understanding the future demand. 

Stock management software has become one of the most popular software among different companies in recent times. This is because company owners are now focusing on extensive warehouse and inventory management. This software is one of the best and easiest ways to satisfy the employees who work in the inventory and stocks department. So, some of the best ways to get yourself right software is-

The very first step should be consulting your staff and most importantly the attendant team about this inventory management software as they are the ones who have to work regularly with this software. They are the ones who work day and night to increase sales and improve warehouse efficiency. This step will help you in making the right decision. You can ask your consultation team which will help you in making the right decision and purchasing the best stock management software for your company.  

Your financial estimate should always be in your mind related to this system. Your spending capability should always be in your mind while you enter the online market to purchase the software. Therefore, you should consult your accounts team to make yourself aware of your bank balance and your financial capability. To take your company ahead in the market, spend on that software that provides you with all the potential features required by you and your company.

It’s pretty evident that your employees are having problems in solving numerous inventory management issues, which arises the need for stock management software. Therefore before consulting for a quotation or doing any investment note down all the points which are limiting the growth of your company and giving a major problem to your employees.

After you have noted down those points which make your system defective, then consult your team members about the expectation from this software. Record all these points properly so that you can consult them anytime. Keeping all the points in mind you have to spend your money on that inventory management software which provides you with all the required features and is suitable for all your needs. 

Now, considering all the available options online should be the next step, this will help you in getting the best deal for your company. Your experienced team will help you out in making this job as easy as possible. Don’t leave any chance to grab the best deal for your company.

A thorough analysis of all the valuable options in the online market is very necessary. Out of them you have to shortlist your deal. Therefore, a thorough analysis is always advised before purchasing any of these. 

To know what exactly the stock management software has to offer you have to get in touch with all the online reviews available. This helps in understanding the ground reality of the software. They are considered reliable as they are from verified users. It will be best for you if the software you choose has a trial period to offer this will help you in understanding the software in the best way. Then, you are left with the last step of finalizing the software. 

Just looking at the reviews will not do your thing of buying the inventory management software. Some of the necessary points to consider before buying this software are-

Features- A wide range of features offered by the software is very important. But the important task is to select the one which has all the potential features required by you. It will be a very careless step to go for that software which has a whole lot of features but lacks in those which are required by you the most.

Costing of the software-There are restrictions everywhere and here the budget is the clause to spend on the software. Therefore, the stock management software must respect your budget so that your calculations and expenditure don’t go out of your hand.

Customizability- If the specification of your work and stock management is complicated then you need to get the stock management system customized according to your needs and work. So choose that kind of software which can be easily combined with the existing one. 

Usability- Getting your hands on that kind of software that is easily adaptable by your crew is a very important thing. The software is not worth purchasing if it takes remarkable time for your staff members to understand it. The main purpose of this software should be to simplify the work of the employees.

Long term usage- The software which you opt for must provide regular updates so that the system does not lag with time. It is not at all pocket-friendly to change the software now and then. Therefore, choosing the software with regular patch updates has to be the one for you. 

Flexible usage- Another important thing to keep in mind while buying the software is that it can be used on multiple devices or not. Convenience is the subject nowadays. If you are able to handle your company on the go you can then you are a person who keeps himself and his company up to date. This inventory management software provides platform free user interface due to which you can run this software from any device having android, iOS or Windows as their operating system.

Customer service- The stock management software chosen by you should offer decent customer service. If any problems arise related to this software, you should have that assurance that people are there to help you troubleshoot your problem and get back to working seamlessly. 

Inventory management is one of the toughest branches in any company. Keeping the track of all the related stocks and piling them up according to their category is what is needed the most. If you have software like this the work of your employees becomes very easy and efficient. Therefore, you need stock management software that provides you with these benefits to make your job easier-  

Increasing accuracy- Inventory management system consists of different types of internal background programs. When all the stocking related tasks are done manually it is likely to commit some kind of human error which is inevitable. Once you bring this software to work it will automate all the processes which will leave no space for errors.

Increased productivity in operations- The analytics and reports generated can help you to understand which products are likely to sell more or less. This software helps you in making intelligent business decisions and you might also detect a pattern of managing expiry dates and manufacturing dates of the product. 

Happy consumers- The inventory management system working process not only helps you employees but also helps to create a good impression in front of your clients. Proper management of all the goods leads to fast service which in turn impresses the client as you give them fast service. This is what matters to the majority of customers. All of this can be achieved with the help of this software.

More automatic work- All these processes of stocking the goods require a complex set of steps which you might not want to do on your own, as manual calculations tend to be incorrect sometimes. Also, all of this requires lots of manpower when done manually. Incorporating stock management software in your company will automate all these steps resulting in faster work and fewer errors. 

Cost-saving- Deadstock and overstock of the goods can be avoided with the help of this software. This will lead to revenue generation as well as cost savings. When this software gets integrated into your company it will automatically decrease human error and also will make a profit for you. It will also remind you about your safety stock so that you can fill up the stock timely to avoid goods shortages. 

Security of data- You can restrict user access according to your requirement in this software. You can make specific accounts for people working at a specific level deciding their level of access to the data. It also provides security at a level so that there is no data breach. 

Business negotiations get improved- This software also has the feature of batch tracking which gives you better product traceability and also enables you to access valuable information, this helps in negotiations with the suppliers. With the help of this feature, you can understand which suppliers are valuable for business and which one of them needs improvements. 

There are many notable options when it comes to stock management software. For your help, here is some inventory management software that you can look at-

Inventory Management Software- It is a cloud-based software and helps out the company to manage the stocks and keep an eye on the exact number of stocks. This software provides unique barcodes which help in the proper identification of the goods. This software has a trial period of 14 days. 

Oomedh Inventory Management Software- This software helps the company to keep their stocks in check as well as automatically generates invoices for the stocks sold. This feature comes in very handy for the employees. This software can run on android, windows as well as iOS. This software has a trial period of 14 days. 

MARG ERP 9+ Inventory Management Software- This software helps small shops as well as the larger ones to handle all the stocks in the best and efficient way possible. It is a feature-packed software and gets updates on a regular basis. It has a trial period of 14 days. 

CAMS Exact Inventory Management Solutions- This software provides optimum performance and is 100% accurate. It provides great customer support and they are dedicated to client satisfaction. This software also has a trial period of 14 days. 

Astral Inventory Management System- This software is incorporated with the latest software and technology. It can manage multiple branches from a single location.  It can run on all devices like tablets, desktops, laptops and smartphones. It has a trial period of 14 days.