Inventory Management, or stock control, is the process by which an organization keeps track of its stuff. For a small business, keeping track of items with Excel or Quickbooks or even pencil and paper may be sufficient, but as the business expands so does the complexity of the task. Eventually, a company adopts an inventory management system to bring organization and consistency to its records.
An organization uses an inventory management system to avoid product overstock and outages. It is a tool for tracking inventory levels, orders, sales, and deliveries. Also, it can be used by the organization to create a work order, bill of materials, and other production-related documents.
Our objective of the inventory management system is to provide uninterrupted production, sales, and/or customer service level at the minimum cost.
Basic Inventory Control
This feature manages and controls your inventory across with your sales channels.Sometimes, if inventory can reach a specific threshold, a company inventory management system can be programmed to tell managers to recorder that product .This helps companies avoid running out of products or tying up too much capital in inventory.
Barcode and Scanning
If the number of daily orders receive exceeded the threshold limit ,there might be chance of lead to bottlenecks if you are not in positioned to process and fulfill these orders efficiently.Thus,to process higher volume of orders in streamline process,Barcode and scanning feature must be implemented at the pick ,pack or ship stages.
Tracking
This feature will help to track Products in a warehouse or store via its barcode or other tracking criteria such as serial number, lot number or revision number.
