An inventory management system is a crucial tool for businesses, utilizing software and technology to track and manage product flow from purchase to final sale. Key features include real-time inventory tracking, order and supplier management, barcode scanning, demand forecasting, integration with other business systems, and analytics for cost control. This system optimizes warehouse operations, ensures compliance, and enhances overall efficiency in the supply chain.
Why do you need a new system because of the weaknesses in the existing system?
- Inaccurate Data.
- Changing Demand.
- Manual Documentation.
- Supply Chain Complexity.
- Managing Warehouse Space.
- Insufficient Order Management.
- Evolving Packaging.
- Expanding Product Portfolios.
- Overstocking.
- Inventory Loss.
- Poor Production Planning.
- Lack of Expertise.
- Poor Communication.
- Inefficient Processes.
- Inadequate Software.
Who Need?
- Ecommerce Industry.
- Food Industry.
- Electronics Industry.
- Consumer Goods Industry.
- Feed and Livestock Industry.
Objectives
- To Maintain Adequate Inventory Levels.
- To manage backorders.
- To manage inventory warehouses.
- To manage multichannel orders.
- To lower overall inventory management costs.
- To minimize inventory wastage and losses.
- To maintain systematic inventory records.
- To maintain high customer service quality.
- To reduce inventory processing time.
- To ensure overall inventory control.
Key Features
- Barcode scanning.
- Inventory optimization.
- Stock notifications.
- Report generation.
- Multilocation management.
- Stock returns handling.
- Material grouping.
- Purchase order records.
Benefits
- Increased Sales.
- Increased Information Transparency.
- Shorter Lead Times.
- Lower Costs.
- Improved Delivery Performance.
- Increased Employee Efficiency.
- Accurate Planning.
- Decreased Stock-Outs.
- Increased Customer Loyalty.
- Increased Inventory Turnover.
Devices of use
- Computers.
- Smartphones.
- Tablets.
Achievements
- Material Availability.
- Better Level of Customer Service.
- Keeping Wastage and Losses to a Minimum.
- Maintaining Sufficient Stock.
- Cost-Effective Storage.
- Cost Value of Inventories Can Be Reduced.
- Optimizing Product Sales.
