Inventory management software is basically a software to manage inventory in manufacturing industries. The tracking of inventory levels of orders, sales, delivery, and raw materials are done on inventory software. A manufacturing industry can create a work order, bill of materials, and other production related documents using inventory software. The effective use of inventory software can be helpful in optimising the resources invested in the inventory. The organisation of data can prevent overstocking or outage of a particular item of inventory.
Features of inventory software
The management can set a reorder point of particular items to prevent the company going out of stock for that item. This reorder points can be different for different items and the software can be programmed to remind the management of this point.
Whether the inventory is in a warehouse or on its way to stores, it can be tracked through barcodes and other methods. This is a sure shot way to prevent the items getting lost or stolen.
When an enterprise is service oriented rather than product oriented, the inventory used in the provision of such services can be easily tracked for particular customers. This helps in billing for them.
Modern inventory management systems are inbuilt to recognise QR codes or barcodes. This helps the company in preventing the cost of purchase of barcode devices separately.
A fully automatic inventory software can help you optimise the inventory by attaining metrics such as:
- Reorder point: It is the amount of inventory required in stock when it has to be ordered again.
- Order quantity: after the consideration of season, forecasted sales, usage, etc, order quantity is decided.
- Lead demand: the quantity of goods that can be sold during the lead time
- Stock cover: if no record is made, the number of days before which the stock will run out.
- Accuracy: the expected accuracy of the forecast.
A good inventory program can give you many benefits. However, if the same program is loaded to a cloud then it will be more beneficial as you can access it from anywhere. Also, it is highly protected and secure to minimise the risk of overwriting or deleting. It also eliminates the risk of physical damage to the software. When you employ cloudies as your cloud partner, it increases the productivity to the next level. Some of the benefits of hosting with cloudies are as follows:
- The server uptime is guaranteed to 99.99%. This helps the company reduce the losses incurred during server downtime. All the maintenance is done by issuing prior notices.
- The 24*7 support helps you to keep track of your inventory anytime, anywhere. You can just give a call and you can know the status of any of your inventory items.
- You can scale or descale the amount of space you require on the server at any point of time. You can call us to do the same or you can use our pay-as-you-go services. Our plans are customised to your personal needs.
- When you host with cloudies, you save a lot of cost. Compared to our competitors we charge a lot less. Our charges are dependent on how much you use to optimise your resources.
- Your inventory software can be easily integrated with cloudies cloud. Our systems are well equipped to integrate all the softwares needed.