Wednesday, February 5, 2014

Elements of Inventory Tracking Software



Business operations can be enhanced with good inventory management. Inventory tracking helps you determine future requirements based on information regarding variables that can improve or reduce sales, such as transportation costs, warehouse space, market fluctuations, and vendor reports. Make inventory tracking easier by introducing a good inventory tracking software into your business. You can tell that the software is good if it has the following features:

  • Ease of use. Your software needs to be user-friendly and compatible with your existing computer or data systems.
  • Simplified data entry. A good inventory tracking system lets you enter data easily, but still gives you the option to manually enter codes. There are tracking software that can obtain information through barcode scanning.
  • Security. Of course, you need to make sure that the software can prevent theft or prying eyes from accessing your data. For added convenience, security features can include tracking of data access, so you'll know who accessed the data and when.
  • Electronic Data Interchange. There are software developers who have integrated online and shipping inventory access from FedEx and UPS on mobile devices. This feature is useful for wholesale distributors and manufacturers.
  • Cloud-based. This makes the inventory easily accessible by everyone in your inventory management team from their tablet, computer, or smartphone. This enables them to easily make changes and update the information in real time.
  • Custom reports. Some types of inventory tracking software provide customised reports that can be sent to you on a scheduled basis. This lets you view the summary of inventory reports.
  • Keeps you well-informed. An inventory tracking software must tell you what's in stock, what you've ordered and when it will arrive, and what you have sold. It eliminates the need for you to manually check on those things, making the tracking process easier. It can also simplify control over inventory rights when using POS (point-of-sale) software systems. It gives you the option to track sales and pricing of the products, too.

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