The Best Inventory Management System Solutions for Your Company

Read this article and discover the best inventory management system solutions for your company and how to select the right one for you!

Managing your inventory is a major component to a long-term success in today’s competitive business environment. Whether you run a brick and mortar store or you are selling your products online, keeping your shelves stocked all the time can make or break your company.

(Read more about: Inventory Management Software – Accounting System)

You probably know that Excel is bad and useless for tracking inventory, however, if you are not sure where to go from here, don’t worry, as we’ve put together a list of points to consider when you are trying to find the right inventory solution for your business.

  1. Ease of Use Let’s face it – training your employees to use new technology can be a time-consuming and expensive process. A lot of vendors provide live demonstrations so you can try the inventory system before you decide to purchase it. This is an excellent way to determine how easy the product will be for you and your staff to learn.
  2. Balance of simplicity and features You need to make a list of the inventory tracking and management features your company can’t live without. For example, the ability to track inventory by serial number, the ability to create packing slips, managing your supplies, and etc.
  3. Integration with current technology – There are two things you need to consider – the software and the hardware. You need to avoid unexpected costs by reviewing the system needs for the inventory system you are taking into consideration. Ensure your current operating system and the computer can support the solution. You should also consider the software you currently use. If you have used Access or Excel to track your inventory in the past, you need to make sure that you can import all of the information into the new inventory software.
  4. Timeliness of data – The inventory solutions can be utilized as a software only with a mobile computer. By using a mobile computer, you will be able to update the inventory data from the warehouse. The inventory tracking solution will use batch data transfer or wireless communication to transfer all of your inventory information.

Please keep in mind that selecting the right inventory solution for your company will take time, energy, and thorough research. However, it is definitely worth the investment.

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