Inventory Software

All about business inventory software

Inventory control software is a vital management tool for retail businesses and product suppliers. You can use inventory software to keep product lists, track sales and statistics, take orders from customers, restock from vendors, connect staff working at different locations and generate analytics about your business.

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Features of Inventory Tracking Software

Here is a closer look at the range of features offered by complete business inventory software suites:

  • Product tracking. You can use retail inventory software to organize products by category or price, and create icons to make system use easier. Most quality computer inventory software programs are capable of tracking 10,000 products or more. You can have your inventory software work with your barcode readers and POS software to create an integrated system that automatically and immediately updates as products are sold.
  • Customer-relationship tools. Inventory management software also allows you to create simple workflow charts, take and process orders from customers, and can include or work with your accounting software to produce printed invoices or automatically forward them to customers via e-mail.
  • Vendor-management tools. You can set the system to automatically generate and submit purchase orders when product stock levels fall too low. Vendor-management tools also allow you to track product costs and create an average if your prices fluctuate. Invoices are automatically generated and submitted.
  • Analytics and metrics. Advanced inventory software packages also allow you to instantly generate graphs so you can track sales, revenues, profits and inventory levels across a specified period of time. You can also create customizable reports if you want to do some serious number crunching.
  • Employee connectivity and security. Finally, you can use these software tools to create a network that supports multiple users, even if they're at different locations around the city, country or planet. Inventory control management systems also come standard with reliable security controls, ensuring that nobody without the proper authorization or credentials can access the system or alter or view data.

Given all these advantages of inventory tracking software systems, and the affordable cost at which they are available, it doesn't make sense to stick to traditional methods of tracking inventory. For a modest investment, you can really improve the efficiency of your inventory operations, build better relationships with your vendors and provide your customers with superior service.