Guide to stock management software – What, How, Why
A stock management software is the need of the hour for every business that is in to direct sales. Whether it’s a small scale or a large scale enterprise, an efficient stock management software can help in seamless management of inventory and help with reporting as well as procurement related decisions.
In case you are looking to integrate a stock management software to your business, whether retail or wholesale, there are many things that you need to understand beforehand. Here, we have created a brief guide to help you understand whether you should be switching to an inventory management software or not. And if yes, what are things that you need to take care of.
A stock management software helps in maintaining inventory, tracking the level of available stock and understanding the procurement requirements. It is generally used by businesses and industries related to sales or manufacturing with product availability queries and refilling of inventory.
How can it be used for inventory stock management?
There are many options available to manage your stock in an automated manner. The software works as a tool for organizing the inventory data that you might be now maintaining in hard copy or spreadsheets.
When the inventory of a company reaches its threshold limit, the online stock management software can inform the managers or the responsible person to refill the inventories, as these software are programmable. Hence, businesses don’t run out of stocks all of a sudden.
Why a stock management software should be used?
The main purpose of using an inventory and stock management software is to be able to make informed decisions by the managers. Moreover, it can also help in reducing the carrying costs of moving the stocks. The software can achieve this by tracking products or parts when they are transported from a vendor to a warehouse, between warehouses, retail location or even when the product is on the way to the delivery to the end consumer.
It helps in growing the business by tracking sales of product and also lets you know how much you can sell in future by finding the ordered item for the customer and reorder more stocks for refilling of inventories before running out of stock.
Some of the software, which are available for managing inventory by reordering, asset tracking, maintain the service management system, do production product identification and optimize the inventory are discussed here.
Zoho Inventory Management software
Some of the most powerful features of the Zoho stock management software are, an extensive suite of integrated native apps, quality of customer support and other aspects and the ability to be customized for the proper management of the inventory.
Zoho Inventory Management free version of this software is available with many trial plans needed as per the requirement of the company. The company just need to sign up for the free trial of Zoho inventory. The best thing about this software is that it is the part of Zoho’s suite of quality business productivity apps.
Zoho inventory management software has an added advantage due to its compatibility with the other Zoho productivity apps that help in migrating data seamlessly across Zoho’s stable of the product line up. Using this, the responsible person of the company can handle inventory, manage customer relationships, and sell the product using a single account and platform.
This software helps business enterprises in automating their inventory and order management and also track the deliveries being done to their respective customers. Mostly this software is used by e-commerce businesses of all types and sizes.
This application is integrated with cloud retailers and leading shipping solutions making it more flexible for selling in online mode. End-to-end tracking of the inventory can be done from the stage of initial delivery. An added advantage is that the tracking can be done from iOS and Android devices also.
This application offers robust reporting and analytic tools with out-of-the-box functionality like sales channels, full order fulfillment and management, billing and invoicing, reloading inventories as soon as possible to avoid stock-outs.
Cin7 inventory software is a completely automated point-of-sales package and inventory management suite that is created to cater to the needs of various businesses and industries. It is a cloud-based platform that offers top-of-the-line features, which help in selling the products in a more efficient way.
All the inventories can be connected to manage multiple sales channel through one platform and helps in tracking the online sales that are happening across various outlets. Apart from having an all-in-one inventory system, POS, EDI and 3PL systems can also be integrated with over 100 third-party applications and letting access to all the features needed in one platform.
This application is used by online shops and also for multiple e-commerce systems. Cin7 is very adaptive in keeping stocks in line with the orders received from the portals where the brand sells its products online.
It has the capability to work by integrating over 200+ e-commerce platforms and marketplaces, 3PLs, EDI retailers, shipping and CRM service channels with built-in warehouse, B2B modules, and retail POS.
With a nice user interface, it is a cloud-based and automated inventory software for the delivery of products to the customers. Distributors, multichannel and multi-regional wholesalers and can work single-handedly using various tools of the software and manage the supply chains, inventory and provide services to the customers.
This application is integrated with e-commerce and accounting systems as well with Shopify POS for the physical stores. TradeGecko has an option for inviting the customers to sell their products on a private e-commerce ordering platform.
There is an individual page for adding a description for each product, which is a key feature of the software. Using this feature the person working with the software can track the stock supply. When the stock is running low, the software automatically notifies by sending reminders for reordering or refill.
TradeGecko works as an end-to-end or order-to-payment system for sales and order management process, send quotations and fulfill the orders after getting paid. Moreover, the best feature of this software is that there is no need for accounting solutions, making invoices and closing the deals as the software is equipped with such function to take care of the whole sales process and close the deals.