Inventory management is vital for each and every company whether big or small that buys or sells physical inventory products. In the market today, there are quite a numbers of inventory system from ERP, WMS to smaller scale of inventory software. However, they have their own pros and cons in terms of cost, usage and requirements.
Therefore, we’ll discuss through some of the basic requirements for an inventory system.
Tracking of inventory is very important for a company to ensure their inventory management is in order and efficiency while reducing inventory costs. Inventory management is referring to the process of efficiently monitor and overseeing the inventory movement into and out from an existing inventory. This is important to ensure the stock inventory is kept at the desired level to prevent them from becoming too high or dwindling to the levels which could put the operation of the company in jeopardy.
The number of factors will determine the amount of inventory to be kept in store including customer monthly order, the size of the warehouse and the lead time to replenish the inventory. Insufficient of inventory quantity to meet customers daily or monthly order will chase them to go elsewhere. Store capability to stock adequate inventory levels will helps to ensure the availability of the inventory products. Thus an alert inventory system to inform the users on their re-order and min level will help the company to replenish the stock inventory quickly. If the replenishment alert is quick and reliable, then the lower inventory and less warehouse capacity will be able to meet the customer order and demand.
For the requirements mentioned above, Chronos eStockCard Inventory Software is definitely the right choice for effective inventory management, please download the Free Edition to try today and see how our software helps you to track your inventory in details, reduce inventory holding and increase your operation efficiency.