#erpgoldinventorymanagementsoftware

Inventory software helps inventory businesses bring out most vital chores such as tracking shipments whereabouts, tracking products level, sales, purchases, orders, stocks, scanning the barcodes and much more. First the inventory software and second its features both are just as significant for an inventory business run efficiently. Here in this article you will come to know what to look in an inventory software for best buy.

Features of inventory software

       I.            Inventory management

The feature is all meant to keep your crucial and compulsory warehouse functions centralized so that you can keep way of every single inventory details like stock level, product history, along with other product provisions. Importantly, the data syncs with all other segments in the inventory system which helps you handle the inventory precisely increase productivity and help increases teamwork among team even if they are working from different places with their systems. Inventory management is one of the factor which you should consider for in an inventory software for best buy.

    II.            Barcoding and tagging

Barcoding module helps you eradicate standard human error, which often happens due to manual data additions. Scanning barcode provides fast and trustworthy solutions. It saves time that of entering data yourself. At the same time, having barcoding in place lessens employee training time, requires no more than a few minutes to dominant. Traditionally, it required a lot of determinations and workforce to train an employee on how to record products information. Barcoding advances inventory control and tracks things such as pricing and product information accurately.

III.            Inventory tracking

Warehouse requires a staff to keep a check at every step. Barcode, which we have understood earlier in this article, plays a important role in authorizing you track your inventory precisely. Assets serial number, RFID, and other things important here as these are the things which let you know  real-time data of everything inventory. The important factor for an inventory software for best buy is inventory tracking. Things you can do with inventory tracking

·         Product tracking

·         Tagging

·         Reports and audits

  IV.            Reporting tools

Having an inventory business involves you to be updated with real-time data such as product status, driver’s whereabouts, order, shipment, and much more. You can have several reporting tools and features integrated into the Inventory Management  to perform the reporting tasks easily. The feature is essential for dedicated inventory businesses. Here are the some advantages of  reporting tools

·         Smooth and perfect communication

·         Improved Productivity

·         Compact common human error

    V.            Inventory forecasting

You would never want to upset your customers with their desired products out of the stocks, would you? Inventory forecast, as the name recommends, lets you find out which products are going to out of stock soon and what is in plenty. That is a abundant way to keep your customers provide an outstanding user experience. One of the most important benefits of inventory forecasting is that you can spend the resources intelligently. Knowing and understanding the sales features like size, color, scent material, and other things can keep you more precise. As a result, you take decision such as how much to buy and what to buy quickly. Last but not the least factor of an inventory software for best buy is inventory forecasting. Here are some factors which your business get with

·         Powerful future insights

·         Align sales and marketing efforts

·         Reduce the risk of stock outs

·         Lower holding costs

·         Increased turnover rates

The rise of the e-Commerce business trend is growing at an unprecedented rate from the past few years. Online shopping provides more convenience and it is simple for customers to find and buy anything they want in just a few clicks. This retail business is not only limited to a single channel. Retailers can use multiple channels to access a large number of buyers and expand their business easily.

However, selling on multiple e-commerce channels is a very challenging task and need especially when it comes to inventory operations. Poor inventory management can lead your business towards the edge of destructions. A solution to this problem is the integration of multi-channel inventory management software, which will provide a centralized inventory location for all web stores stocks, streamline business processes, and save you from all the worries related to your inventory management operations.

Let me highlight some points that how inventory management software can save your business from a wreck.

Single System reduces the Complexity of multiple operations

Using a multi-channel inventory Management system saves you from the fuss of logging in into each channel separately. A centralized inventory system will allow you to keep inventory data consistent and updated across all selling channels. Which minimizes the risk of errors for order processing and speed up the selling process.  

Systemized Order Management for Multi-channels

When selling across different channels retailers have to juggle customer's orders from multiple stores. Centralize inventory and advance order management system facilitate you view and process all your orders throughout the complete order cycle no matter from what source you receive, and customize key stages such as fulfillment, invoicing payment method, and shipping.

Simplify supply chain operations  

In supply chain operations updated information is the key to a smooth business process and the changing demands of online retail selling need a robust solution for it otherwise the business will lose its integrity. Centralizing orders and inventory data through multi-channel inventory management software provide end-to-end visibility of supply chain operations and with intelligent workflows reduce error-prone inefficient processes.

Exclude Accounting Errors and improve Cash flows

Handling accounting operations for a large volume of orders from the different channels is not an easy task and there remains a doubt of miss calculations and errors. Efficient and error-free finance management can make all the differences.  An inventory management software integrated with the accounting module helps you simplify your financial operations and bring your bookkeeping, payroll tasks, and tax preparation into a single platform.

 Minimize Sales Loss with Improved Customer Service

Handling customers approaching from different platforms need a proactive approach not to lose a sale. A multi-channel inventory management software allows responding to customers through a single platform and integration of chatbot and automated Messaging services engage customers throughout their buying journey. Automated generated response service promptly facilitate customers, and save them from getting disappointed and to change their mind. Instead, they guide them about the right product through pre-written queries and help them to place their order easily.