For most companies, it is important to track the goods from the vendor to the warehouse, between the warehouse, and also to the retail location or directly to the particular customer. In these cases the company can get help from the Inventory Management software in India and Stock Management software and this software will assist completely with all these activities. There is a number of such software that you can get from different places, but the most eminent one in the field is Techimply, one of the best software providers to provide different types of software based on the needs and uses of the companies.
100% free online invoicing software for small businesses
Zoho Invoice is a 100% free, online invoicing software for freelancers and small to medium enterprises (SMEs). It helps you craft professional invoices, send payment reminders, and get paid faster online.
Vyapar is the simplest billing and invoice and accounting software. Vyapar is a user-friendly billing and invoice software. Most simple, secure & easy software.The main goal is to make a businessman’s daily routine less tiring and focus more on growing their business, and less on paperwork.
Spectrum billing software is the best software for business. It can assist business accounting and bill generation, Inventory management software, we can use it for bank details and for many more features.
QuickBooks Desktop Enterprise (Save Up to 55%) is our most powerful accounting and business management solution, made for small to mid-sized product-based businesses. Features include inventory management, customizable reports, order fulfillment, job costing, advanced pricing controls, real-time financial dashboards and advanced tools to manage employees and payments. Enterprise enables up to 40 users, and has over 200 3rd party integrations to help deliver meaningful, additional capabili Read More...
Torqus POS comprehensive Point of Sale Restaurant Software for Food Chain outlets, Casual Dine Restaurants, Pubs and bars, Night Clubs, Pizza Chains,Cafes, retailers, Food courts etc. it provide to track order and mange of the order in pub and bar can customer use the software. easy to use and work.
Book Keeper is most simplified accounting solution for Android/iOS and Windows. It has easy and fast invoicing. It is GST/VAT ready. It has inventory management feature along with warehousing and barcode. One can record all his receipts and expenses in it. Can generate orders/estimates/quotes. It can sync option with user management system. It is multi user and can be used from any location. Works both offline and online. It has comprehensive reports and insightful dashboard. Has payroll Read More...
Trade plus is a proven quality accounting and inventory management software package used by several organizations. It is a single user package with features such as multiple financial years, VAT computations, cess on VAT calculations, multiple price rates, etc.
Best Accounting System for Small and Medium Businesses
Reach Accountant is India-based Online accounting software. Reach accountant is having software modules for Accounting, Point of sale, and Customer relationship management. Reach has well-developed modules which help the business owner to manage accounts on the go.
Our Retail Store Software is a reliable store business-management software that ideal reform all of your sales, inventory management, analytic, accounting and reporting is one hand and reporting through email and SMS.
Restaurant Billing Software Solution with Restaurant Budget Software
Atulyam Hotelline PMS solution is a leading software provider to the hospitality industry. They serve hotels and restaurants, resorts and clubs, pubs and bars, etc. Atulyam covers beautiful modules which assist to control the day-to-day activities of the hospitality business.
Cloud Based Restaurant POS Software | Restaurant Management Software
InnkeyPOS is end-to-end restaurant management software that covers the entire need of the Restaurant business life cycle. It will act as your restaurant billing software and cover the entire operations like restaurant billing, sales, Inventory and stocks, and reports.
MMI XPERT is an end-to-end answer for SMEs, retailers, wholesalers, traders, and manufacturers operating the entire process from a single window to a whole chain. MMI XPERT is a comprehensive and scalable business that is focusing on high-end growth.
Integra ERP provides business process management software and services for SMEs and Retailers. They have an extensive range of software products including online accounting software to Enterprise Resource Planning software to run your entire business on that.
Weaver is your solution to a smart business. With attributes like KOT, Online ordering, Dashboard App to check on operations in your store, recipe mapping, setting variants for items, table management, and the best CRM, you can supervise operations and run your restaurant.
A Store Management System helps to streamline the store process with respect to Stock coming in, Generating your own Barcode, Stock Tracking, Updation of Inventory, Invoice Generation, Stock Out, Payment collection tracking, altogether providing an end-to-end solutions.
HDPOS is one of the best accounting software. It is easy to use and has a nice interface. It is a Windows-based Billing, Inventory Management and Accounting Software and it is easily installed on a single computer or multiple terminals.
The Buyer’s Guide For Inventory software and Stock Management Software
What is Inventory Management Software?
Inventory is one of the major aspects of any business. The businesses sell materials, work-in-progress goods as well as a final product in order to generate revenue. Without all the goods, merchandise, and material there can be no business. Just like running a profitable business is important, taking care of the inventory is a very important aspect of any business. Therefore, inventory management software has become a necessity for businesses these days.
Inventory management software consists of different types of applications like tracking, managing, material, purchase, organising product sales and different types of other production processes.
The business now has the option to use radio frequency communication to check when the material and shipment is arriving
Stock management software helps businesses to reduce the time and effort that they put into basic tracking, this makes them focus on finding, analyzing and reducing unsuitability in the model.
The inventory management software optimizes the entire journey of the product, ranging from ordering from the vendor to the delivery to your customer, this maps the whole journey of the product.
It does not matter which type of store you are running, be it an e-commerce website, a supermarket, a cement store, or a logistics company, everything will function way better if you have stock management software. It will give you a clear perception of the product and also help you to understand your customers.
1. List of features you should gaze for in Inventory management software
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 billing software. This helps in easy tracking and identifying the products.
Stock optimization- 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 that 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 of 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 Accounting 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 warehouse 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.
2. A process to purchase the right inventory management software
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 that make your system defective, then consult your team members about the expectations 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.
3. Things/components to consider while purchasing the inventory management 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.
4. What are the benefits of inventory management software?
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 requirements 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.
5. List of easy to use inventory management software
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 that 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.
6. Uses of inventory Management software and Stock management Software In Industries:
Most common human errors like entering the faulty data
If your business expands, then the spreadsheet management becomes too difficult.
Documents or files stored in your system can be damaged or misplaced
The manual system may not be suitable for your rapidly expanding business
Determining the sales, results and their predictions become tough.
The Warehouse management software is one of the components of supply chain management, which is used to monitor your company goods from the manufactures to the warehouses. Generally, this software has been introduced to store the detailed record of return products or new products as it arrives or leaves a warehouse.
7. Features Included in Inventory Management software and Stock Management Software:
The supply chain process may ensure about the right stock should be placed at the right place, at the right time. The stock management software is used to consolidate the sales information for streamlining the operations and allows the employees to access reliable and current inventory data.
With the help of the stock management software, you can easily about the financial management, up-to-date inventory data, etc. now you are going to see about the features included in the stock manager software:
The customizable reports have been generated by the stock management software according to the need of the information at a particular time. The multiple team members are needed for managing and operating the software, because, the customizable security access is included in that.
If you are going to make a business dealing with multiple vendors, the progress reports have been displayed to mobile phones, tablets, and desktops. If you want to make your work more convenient, you have to keep all the needed information on your mobile.
8. Inventory Management software and Warehouse management software Features:
In general, the stock management software is manufactured for the inventory management, for displaying the inventory stock along with the individual items at all the times. The notifications should be sent regularly about the reorders, inventory and returns.
For maintaining the e-commerce businesses, you have to integrate the e-commerce software with warehouse management software. This feature can be used to monitor physical inventory and online sales in stores. Nowadays, a variety of websites is available on the internet, even though online sales can be monitored with single software. The stock management software has to satisfy these needs when you are going got deal with the perishable items delivery.
9. Benefits Of Warehouse Management Software:
The real-time updates and human errors can be decreased by integrating the warehouse management software with an inventory. Let see the benefits included in the Stock manager system:
Entire Chain Visibility:
Awareness about the flow of the incoming and outbound product can be visible for the optimized stock management software.
Save Your Valuable Time And Money:
The reporting and re-stocking information can be accessed easily through this stock management software. It helps to manage your business records up to date with fewer efforts of your company employees. You can able to find the profits and loss of your business. The inventory Management software requirements can be effectively predicting and managing by the software, the business owners can spend their time for further process.
Planning And Forecasting:
With the help of this software, you can able to find the future product requirements along with the managing stocks.
Your business can able to run automatically, which gives better outputs with the help of stock management system. A variety of calculations and functions regarding your business can be automated easily. Therefore, business efficiency and profits can be enhanced with the help of Inventory Management software and Warehouse management software.
Without the addition of new systems, the stock management system can play an important role in the growth of your business.
Make use of this information, if you want to know about the inventory Management software and warehouse management software. Thus, these are all the important things about the software; you have to utilize it properly.
Frequently Asked Questions (FAQs)
What is Stock Management Software?
If the growth of your business is enhanced, your needs also get rapidly increased. Stock management software is considered the right choice for satisfying needs. These issues can be generally found in the retail business, inventory management, which is also called stock management.
This software is generally used in some of the manufacturing industry for creating the bills, manage seals and inventory, shipment, predict, and track products. If you want to enhance your business plan efficiently, you have to prefer this software. It can be suitable for all types of businesses for predicting inventory management according to customer behavior and minimizes manual errors and labor costs.
What are the benefits of using inventory management software?
Inventory management software offers benefits such as improved accuracy, reduced carrying costs, better demand forecasting, streamlined order fulfillment, and enhanced customer satisfaction.
How does inventory management software help prevent overstocking and understocking?
Inventory management software can provide real-time visibility into inventory levels, sales trends, and historical data. This helps businesses make informed decisions about replenishment and avoid stocking too much or too little inventory.
How to choose the best inventory management system?
To get the most out of inventory management software, you must select the right solution. And for that, it's vital to know which features make up the best solution. A good inventory management solution facilitates tracking of your entire inventory - both raw material and finished goods. It also incorporates functions to forecast inventory levels to serve customers better. An effective inventory software contains barcode scanning capabilities to free you from data errors and offer automation. At the same time, it provides real-time alerts and updates to save you from out-of-stock/overstocking scenarios. Is that it? No. The most important factor is to see if the software is scalable and offers seamless integrations with other systems, such as accounting software.
Can inventory management software help with multi-location inventory control?
Yes, many inventory management software solutions offer multi-location support. This allows businesses to manage inventory across different warehouses or store locations efficiently.
Does inventory management software integrate with e-commerce platforms?
Yes, many inventory management systems integrate with popular e-commerce platforms, enabling seamless management of online orders, stock updates, and customer data.
What role does reporting and analytics play in inventory management software?
Reporting and analytics tools within inventory management software help businesses analyze sales trends, inventory turnover, and other key metrics, allowing them to make data-driven decisions and optimize their inventory strategies.
Best Inventory Management Software in 2023 in following states