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Inventory Management Software

What is inventory and why do you need to track it?

Inventory is generally made up of some combination of items you have purchased to sell and resources you have purchased to convert into finished goods. Inventory management software allows you to keep a record of incoming and outgoing inventory quickly and easily, to ensure that you know how much of each item you have available. With a well designed inventory management software package, you will have the advantage of being able to automatically re-order product, get notifications when stock is low, and easily track where your inventory is and how much of it goes missing each year.

What kind of inventory management software do I need?

Inventory management software comes in a variety of different options to fit the needs of any sized business. Your first major choice is to decide between desktop based or cloud based inventory tracking software. Desktop based systems generally involve installing programs and connecting to an internal database. These are ideal for small businesses, tracking inventory within a single location, or where outside access is restricted for security reasons. Cloud based solutions involve storing your information online for easy access from anywhere, making them great for tracking inventory across multiple sites and for remote access for employees out in the field. You can also choose different software variants, such as work-in-progress inventory tracking versus a standard inventory tracking software solution.

What kind of businesses can benefit from inventory control software?

Businesses from many different sectors can benefit from implementing inventory control software. Hospitals can track drugs and medical supplies, retail stores can track inventory for sale, manufacturing sector businesses can use inventory management software to manage their supply chain, and more. Warehousing is another area which benefits tremendously from inventory control software, reducing employee time constraints and also cutting back on losses.

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