What is inventory management software?
This is a type of web based software that online businesses are using in order to manage the efficiency of their stock control and inventory to maintain a professional business that is able to process, manage and control stock.
Best for smaller ecommerce companies that need to use software that is both versatile and affordable in order to manage levels of stock as they grow the business.
With most inventory management software, you should expect to be able to include all of the following, or be able to select from those you and your developer see is suitable for your business:
- Customer and supplier database
- Database of stock items
- Price list records which can include VAT calculations
- Adaptable and company branded invoicing, credit, despatch and delivery notes
- Ability to deal with multi currency shop sites
- Client orders (buying)
- Supplier orders (purchasing)
- Inventory and stock control, monitoring and reporting
- Detailed analysis and stats
Whilst there are a large amount of inventory management software systems available, it is best to select one which has a number of features that can be adapted to your business – rather than features that you can take but truly do not need.
Software like this is best for smaller businesses that want to incorporate and integrate a stock control system as well as customer and order management, as they are well built to take on important parts of your business whilst being fairly affordable to a business not wishing to expend a whole budget on something they haven't yet tried.