Inventory management assists businesses in determining which as well as how much amount of inventory to order and when. It tracks inventory from acquisition to sale. The practise identifies and reacts to trends to ensure there is always enough stock to fulfil the customer orders and proper alerting of a shortage.
Inventory is converted into revenue once it is sold. Inventory (despite being reported as an asset on the balance sheet) ties up cash before it sells. As a result, keeping too much stock costs a lot of money and lessens cash flow.
Inventory turnover is one metric for a good inventory management software. Inventory turnover is an accounting metric that shows how frequently amount of inventory is sold in a given period. A company does not want more stock than sales. Insufficient inventory turnover can result in unworn, or unsold stock.
In this article we are going to let you know about the top 5 Inventory Management Software available online…
Zadinga is a potent inventory management app created specifically for retailers.
A one-stop shop for all of your business requirements.
1) Simple inventory management
- Quickly add products to your inventory. Simply scan the merchandise barcode with the built-in barcode scanner. The app recognises the product and provides details and images.
- Even if you switch to a different device, your data will always be secure.
- Receive real-time alerts when products are running low or out of stock.
2) Easier checkout and payment processes
- Add products quickly using a barcode scanner or the product catalogue. Add discounts, customer information, and so on.
- Receive digital payments through UPI, wallets, net banking, cash, credit and debit cards, and one-time payment links.
3) E-commerce Made Easy
- Create and launch your online store in seconds. Post the link with your clients.
- Enable Hyperlocal delivery to make sure that your local customers receive products delivered to their door.
4) Reports in Real Time
- Get real-time stock and sales reports.
- NetSuite ERP
The fully automated computation of key configurations, managing and watching inventory across your organisation, and multiple location planning are among NetSuite ERP’s core capabilities. The application includes several tools for automating the critical task of maintaining adequate inventory to meet service demands. Its inventory count feature allows you to categorise inventory based on transaction volume or value to improve inventory tracking, keep exact item counts, and have better asset control.
While Monday.com is primarily a collaboration software, it includes tools to allow it being used as an inventory control tool. It allows users to categorise and tag list items, as well as add a summary, status, and due date to each. This makes organising and managing your inventory much easier.
ShipBob is a popular option among today’s wholesalers, retailers, and e-commerce businesses as an advanced thorough inventory management, WMS, and e-commerce fulfilment platform. It is intended to improve customer delivery times, shipping costs, and overall shopping experiences. To accomplish this, it employs a potent combination of linked technology, strategically located storage facilities, and dependable fulfilment services.
ManagerPlus is enterprise resource planning software that helps businesses reduce operational costs and increasing profitability. The software consists of five possible paths for inventory management, work order management, wealth management, safety checks, and preventive maintenance, providing a complete solution for businesses in industries such as manufacturing, fabrication, and facilities management.
ManagerPlus’ inventory management module assists teams in more accurately tracking inventory levels and setting customised minimum and maximum stock levels. When inventory levels fall below a certain threshold, the system notifies users. This makes it simpler for managers to replenish inventory as needed.