Inventory software is a powerful solution that helps you organize all of the data involving your inventory, purchase orders, sales orders, and much more into a nice consistent format. You can use it to protect information, assign user rights to make sure only certain individuals have access to specific parts of the software, and automate many business processes that used to be filled with tedium and fraught with risk.
Check out the sections below to learn about how inventory software prevents data errors, helps retailers, benefits all types of businesses, compares to an ERP, can be implemented in your business, and can be accessed via the cloud.
The power of inventory data comes from its stability and accuracy. It gives you a clear picture of your current situation and how you can improve it. Inventory software is an indispensable tool when it comes to improving the accuracy of your data. It helps you to:
When retailers try to manage their inventory with handwritten notes or in Excel spreadsheets, they often find that those are not up to the task. Notes can get scattered, destroyed, or lost, and spreadsheets have to be manually updated and are not always easy to navigate. Inventory software assists retailers by:
What is inventory software, what does it do, and how can it benefit your company? Put simply, it is a digital system for tracking inventory items, quantities, and orders. The benefits of using inventory software are wide ranging and they include:
Every industry in the business world has a need for solid inventory management tools and principles. This includes the ecommerce, equipment, food, manufacturing, medical retail, service, small business, and wholesale distribution industries. Inventory software helps companies in these industries:
What is the difference between inventory software and an ERP? That is like asking what the difference is between a piston and an engine. Inventory management is one small piece of what an ERP contains, so there is little to compare and contrast between them. However, there are some interesting ways in which inventory software can be made to resemble an ERP.
There are three main types of inventory software. The first and most common one is a desktop solution, which allows client computers to access a server that they are all connected to. The second is a purely cloud-based solution that allows users to remotely access inventory data via a Web browser or app. The third is a server network solution, which is a hybrid of the other two. It allows users to remotely access the server, which is still maintained on a desktop computer. In order to implement these three inventory software types, you need to plan for the following things:
Inventory software doesn’t have to be a purely desktop-based solution. It can also be online. You can track items in multiple locations, generate purchase orders, create automatic reorder points, scan product barcodes, cycle count, receive orders, and more on virtually any device with an Internet connection. Cloud-based inventory software offers several key advantages, such as the ability to:
Inventory control might seem like an interchangeable term with inventory management, but the two terms actually have a few key distinctions between them. Inventory control is primarily focused on the items that you already have in stock and making sure they are selling in the right quantities to justify their continued purchase in the future. Inventory management focuses on the reordering side and making sure the right numbers are coming in to avoid shortages while also keeping carrying costs to a minimum. Inventory control software helps businesses to:
Fishbowl offers powerful inventory software that can help your business in all of the ways described above. Sign up for a free trial of Fishbowl by filling out the form at the top!