Why your wholesale business needs inventory management software?
Apparently, a complex question with a simple answer. To flourish.
Inventory, for a wholesale business, stock of goods, and products for sale in the future. These are your business assets. Your entire business relies upon this inventory. You need to manage it well to get a good share of profit. According to a recent (2019) report a large number of businesses have chosen the path of modern business. They opt for inventory management software over the manual methods. In this digital world, innovation is the key to success. The old methods require efforts and courage. Courage to make and amend mistakes. Courage to waste time. Courage to manage everything accordingly. Hard to bear. Right?
Well to avoid mistakes, financial issues, and make the business easier inventory management software is an in-time call.
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A well thought out
No one takes any crucial business decisions without taking all aspects into consideration. In case you have decided to invest in wholesale inventory software we hope you have chosen well. Once you think of getting software for your business many questions arise. What features software must hold to flourish your business? Are you going to invest in appropriate software for your business? With all these thoughts in your mind, you explore the market and its trends.
Now is the problem. Business software is not something that you can buy as a normal product. It is not a pair of jeans that anyone can wear. Or a piece of cake that anyone can eat. Before making any decision, you need to take your business requirements into account. It is not necessary that your business needs the same features as any other business.
Still confused? No problem we are here to guide you. We are going to discuss a few main features a wholesale inventory management software must hold. Once we analyze it, we hope you will be able to get one perfect software with all the required features.
Inventory Control Software Features for Your wholesale Business
When you go online to check the productivity and availability of software you will find thousands of options. Software companies are spread like mushrooms with thousands of customized and ready-made software. This is the time when you shouldn’t consider the company but the features they offer. Here we are going to tell you what the main feature you should look for in software;
- ERP Software
As a wholesaler, you need ERP Software to manage your day-to-day business. Tasks such as account handling, procurement, inventory level check, and supply chain operations demand a compact software. Many companies offer the same with different features. Always choose one with built-in accounting functionality to manage your purchase and sale records. In the beginning, ERP integrated different departments into a single process. Currently, ERP systems are refined and technically advanced to ease your job. It enhances business reporting by providing you best reporting tools with real-time records. It allows you to improve your customer services. It boosts your cash-flow. With all these benefits this system is a must in this list.
- Barcoding and scanning
Humans can make mistakes machines eliminate the possibility of human error. The same goes for barcodes. If you enter your data manually the chances of errors are significantly higher. Barcodes and scanners assist you to get fast, accurate, and reliable data. In wholesale business, this feature not only tracks inventory but also helps in accounting. They use to check the manufacturing process. They keep an eye on supply and demand. They keep a track of the distribution process. You are a wholesale business and managing the entire stock is hard. This feature is to answer where you can find your products. Which shelf is occupied with which item and which counter is allocated to which product? The cherry on the cake, this is cheaper than other manual devices.
- Lot tracking
Lot tracking is a system that enables manufacturers and wholesalers to track product lots and the entire process from manufacturing to end customer. An identification number assigned to ant lot is known as lot number. It allows to track the entire history of that lot. This actually saves you from many issues and hustle. In case you find anything damaged or wrong in your lot you can check the entire process by tracking that particular lot.
- Document management
Document management helps in managing records and documents associated with particular inventory items. The purpose of this feature is to store documents and get the information within ERP. It eradicates the chances of error and ensures the availability of the information on one click. It enables you to retrieve documented information related to your customers and suppliers without any hassle. As a wholesale business, you need to be connected with your customers and suppliers all the time. This feature helps you in building your business relations with ease.
- Software as a Service (SaaS)
In SaaS, you get access to the software for a certain period. You do not need to buy the software as a whole you only pay for the services. It saves installation and configuration time with lower costs. Unlike, the traditional model you do not pay for up-gradation. It saves money as well. It is easy to use. You do not need to have expertise in the computer sector to work on it. If you are making inventory management software a part of your business to make it easier then choose easy.
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There are hundreds of features you can look for following your business needs. We suggested some general and suited features for all types of wholesale businesses. Before taking any decision or making any investment you need to sit down and think of your priorities. Take some time to examine your needs and then choose the best fit in option for you. A good choice can make your life easy but a wrong choice can complicate or even add difficulties. Think and act wisely.
After all, it is money and your time that worth the most.
