Inventory software is necessary to enable a true dynamic inventory system, where stock levels are updated continuously as sales are made and goods are received. While you can track inventory in Excel, spreadsheets only work for periodic inventory counts (i.e., the inventory system is only updated at intervals, say after physical stock counts). Benefits of Inventory Management Software Retail businesses can typically use scaled-down systems focused on maintaining perpetual inventory data and inventory levels, whereas businesses with complex supply chains often use the inventory management functionality in ERP systems or with strong warehouse management integrations.ĭepending on the complexity of your asset tracking and physical inventory needs, you may require features to support multiple sales channels, multiple warehouse management, and a mobile app. Features include stock level management, inventory item categorization, sales order and purchase order tracking, barcode scanning, and automatic reorder point purchasing. Inventory management software is software designed to track and manage items through various stages along the supply chain. Buyers Guide Last Updated: JWhat Is Inventory Management Software?
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