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Inventory Management

Inventory Management System 

An inventory management system allows you to track goods and products across your business’s supply chain. It optimizes the entire spectrum spanning from order placement with your vendor to order delivery to your customer, mapping the complete journey of a product.

Whether you’re running a brick and mortar store, an eCommerce site, or a restaurant, an inventory management system is a must-have. It will give you insights into every aspect of your products, and in some cases, will help you better understand your customers too.

The software you choose should offer all the features that are essential for effective inventory management operations.

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Barcode scanning: Easily identify and track your products; inventory management software integrates with barcode scanners for instant product identification and labeling.

Inventory optimization: Maintain just the right amount of inventory for each product, without over- or under-stocking any item. It’s especially useful if you deal in products that experience a seasonal rise and fall in demand.

Stock notifications: Receive alerts and notifications when there’s over- or under-stocking beyond a defined threshold. This helps you to place orders or offer promotional discounts to clear out extra stock.

Report generation: View sales history in the form of a list of your most popular products. This feature also enables you to manage items in your inventory that have not reached the sales levels you expected, for example, by offering discounts on them.

Multi-location management: Manage multiple warehouses and points-of-sale (POS). All locations can be integrated within a single inventory management system.

Stock returns handling: Manage returns more effectively by reducing time-to-return through automation of the entire process.

Material grouping: Group inventory into predefined categories and ensure you’re always updated about quantities of components and specifications that make up your product stock, and manage their reordering schedules as required.

Purchase order records: Create a single view of purchase order records. You can easily identify which products are in demand, both perpetually and seasonally, and prepare to meet your customers’ needs.

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