Inventory management software is a computer-based system for tracking inventory levels, orders, sales and deliveries.
Benefits
It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents.
Companies use inventory management software to avoid product overstock and outages.
It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets 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.
- Purpose
- Features
Purpose
Maintaining a balance between too much and too little inventory.
Receiving items into a warehouse or other location.
Picking, packing and shipping items from a warehouse.
Keeping track of product sales and inventory levels.
Cutting down on product obsolescence and spoilage.
Avoiding missing out on sales due to out-of-stock situations.
Features
Order management
Asset tracking
Service management
Customer Management.
Product identification..