Tips To Manage your inventory

Large production units whether food industry like: coca cola, nestle or tata salt or automobile industry like hero, maruti suzuki have to manage their inventory to have proper supplies in market. Inventory management is always followed by supply chain management so to manage proper flow of goods in market we need to have proper inventory management software. Inventory management software can be used by organizations whether big or small to manage inventory properly. It will lend a helping hand in maximizing profits and reduce the expenses significantly.

Omni channel inventory management software includes these following services:

  1. Automatic inventory tracking: The inventory management software should automate the inventory tracking of entire production unit. The software should update about the quantity available, committed, ordered and out of stock items at just a glance. Also, check out the method of stock tracking used in the software. Whether it’s FIFO (First in, First out), LIFO (Last in, First out) or WAC (weighted average cost).
  2. Order management: This software creates and manages proper sales order, purchase orders, invoices, and bills. As the stock levels change based on your orders so the inventory management also goes hand in hand.
  3. Uptodate Warehouse management: Various large scale firms have warehouses in multiple locations. So, the inventory management software that we are using you should give a centralized control and access to information over all your warehouses in country.
  4. Timely delivery of orders : Many inventory management software also provides integration with various shipping carriers. With this, we can get packing slips and track the delivery status within the inventory management software without having to switch between tabs. This also helps in minimising the condition of overlapping or repetition.
  5. Integrations: This is a very significant aspect which is the major requirement of any inventory software . Along with shipping carrier integrations, these software also require integrations with online marketplaces (like Amazon) online store/website, Accounting software, payment gateways for having a centralized system to control, manage and view all your business transactions in one place and at one time.
  6. Customer service and experiences:This software helps the businesses to know which goods, materials or items are sold more and which goods, materials and items have slow sales proceedings. This will help the businesses to maintain a proper stock levels of the goods and which are sold more and this will ensure that no demands from the customer is rejected due to shortage of goods. This will provide customer satisfaction and will help them to earn more customers. Hence helps in achieving omnichannel customer experience.

With an efficient inventory management system you can streamline your sales and finances allowing you to reap maximum profits and cut down expenses.

  • Manage your supply vendors, stocks, purchasers and the orders from a single platform, giving you more control and easy access to critical information.
  • Generate Purchase Orders, Invoices, Receipts, Credit Notes, Goods Received Note, and many more through Wholesale Inventory Management Software.
  • Generate high quality reports which lets you analyze the status of the inventory efficiently and prevent any unneeded stocking.
  • With Wholesale Inventory Management Software offers the user’s can checkout and monitor stocks electronically more effectively and efficiently.

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