Inventory or stocks are the lifeline and constitute brand image of any company or business.The Manufacturing industry can utilize it to generate work orders and bills of materials. Regular usage of inventory management software can keep check on overstocking of product and outages. Inventory data can be organized in an 'easy to access and operate way' and the old method of maintaining data in the form of lengthy spreadsheets can be shunned completely.

Companies often use inventory management software to reduce their carrying costs. The software is used to track products and parts as they are transported from a vendor to a warehouse, between warehouses, and finally to a retail location or directly to a customer.

Why Uses

  • Order Management, 03.05.2015, 10:45:

    Order Management: Product order management is one of the primary concerns of any company and there's a need to keep an eye on the product shortage and surplus. To avoid the situation of being deficient in stocks or accumulating an excess of it, the software is programmed to reorder the products or prevent the company from investing more resources into its manufacturing.

  • Tracking assets, 03.05.2015, 10:45:

    Tracking assets: The software is helpful in tracking any product be it in warehouse or store. An Inventory Management Software is equipped with barcode, radio frequency identification or wireless tracking technology to track assets of your company anytime, anywhere.

  • Service Management, 03.05.2015, 10:45:

    Service Management: It's a boon for the companies providing services that can employ Inventory Management Software to keep check on the total cost of materials used to provide services.

  • Product identification, 03.05.2015, 10:45:

    Barcodes are often the means whereby data on products and orders is inputed into inventory management software. A barcode reader is used to read barcodes and look up information on the products they represent. Radio-frequency identification (RFID) tags and wireless methods of product identification are also growing in popularity.