Inventory management Software

So often you talk to retailers who are struggling to manage and control their retail inventory. The problems they are having with inventory are generally

• inventory being damaged
• inventory being stolen
• inventory being lost
• Inability to find where the inventory is in the store or warehouse
• Unreliable inventory level data

So what is the solution to inventory management software and systems?

The solution is the right inventory management software combined with disciplined inventory management procedures.

Recently I was working with some stores who complained about their new inventory management software not allowing negative inventory levels and requiring them to receive inventory before they could sell it. Their previous system had allowed them to sell inventory even if the inventory management software was saying there was no inventory or the inventory level was negative.

The point is, if you want to control your inventory then you need to have inventory management software that forces you and your staff to follow the rules. The moment a system allows negative inventory levels then you can no longer trust the system. A good inventory management software ensure you have the tools to accurately manage your inventory.

What are the key components of a good inventory management software system?

A. Easy to use comprehensive product management tools
This includes flexible pricing, category/department classification,  support for customer specific pricing and powerful re-pricing tools to make the management of your margins as simple as possible

B. Purchase order generation and management tools
Whether you have a small or large product range tools that show inventory that has hit re-order levels and other inventory level and purchase order integration tools are vital in a good inventory management software solution.

C. Incoming goods
Ability to select the linked purchase order, support for back orders and purchase order adjustments are all important. Another great feature in the PBSAPOS inventory management software solution was the ability to adjust the fixed retail price via the incoming goods screen. There also needs to be support for supplier returns.

D. inventory take and inventory adjustments
As inventory is lost or damaged or moved between locations you need tools to make the inventory adjustments to ensure your system remains accurate.  In addition a simple to use inventory take module is imperative in any good inventory management software solution.

E. inventory Reports
It is imperative that you have reports on inventory movement, inventory sales margins, inventory that needs re-ordering, inventory take reports, inventory that is expiring (vital for fresh produce stores) and inventory that is not moving

These are just some of the important features you need to consider when you look at inventory management software.

The other aspect is that no matter how good the inventory management software it is the user who has to manage the system. This requires discipline. Good software control software should not allow negative inventory levels but it still requires the users to input inventory adjustments, to input movement of inventory between locations and incoming goods procedures to ensure that what was ordered actually arrived. This is your responsibility.

I wish you all the bets of success with managing your inventory.

If you are looking for a solid  inventory management software solution then PBSAPOS is what you have been looking for.

Review the modules including Product management and Purchase orders and stock management  or give us a call and arrange a remote demonstration. Take control of your inventory today!