Isn’t it extraordinary to witness the ever-changing nature of technology? If you were born more than 30 years ago, you have witnessed the gradual change from analog to digital in the way we learn, interact with each other, and conduct our businesses. It’s a different world we’re living in, and we can see these same changes happening in inventory management.
Advanced systems, such as dedicated desktop software, server network software, and mobile apps are changing the game when it comes to how companies manage their inventory. Let’s discuss four ways that this is happening.
They’re Creating New Opportunities for SMBs to Compete
Advanced inventory management software is no longer the exclusive purview of large corporations. It has become affordable and accessible enough for small and medium-size businesses to enjoy many of the same features found in more expensive solutions.
SMBs can now integrate their inventory and accounting software together to avoid double data entry. They can also scan product barcodes, create automatic reorder points, track inventory quantities in multiple locations, and analyze sales trends to plan for future inventory needs among other things.
They’re Automating Business Processes
In the past, the only way to reorder new products was to first go out into the warehouse and do a physical count to see which ones are getting low and then manually fill out a purchase order and send it to a vendor. Today’s inventory management systems automate many of these processes.
Now you can scan product barcodes each time they are sold to instantly update your inventory records to reflect their departure. As noted earlier, you can also set up automatic reorder points on each of your products so that when their quantity gets down to a certain number, you will be alerted and a purchase order will be generated. The proper quantities and default vendors will be on the purchase order, so a lot of the legwork is already done ahead of time. This removes the guesswork of the reordering process and makes it much faster and more accurate. And that’s just one way that advanced systems are able to automate business processes.
They’re Becoming More Readily Available
There are a number of inventory management apps that are entering the market and shaking things up. Even desktop solutions are becoming accessible on mobile devices through the aid of plugins and apps. Just as inventory management software transformed the way companies tracked their assets a generation ago, Web-based solutions are showing signs of being just as revolutionary to businesses today.
They don’t have the same level of functionality as desktop software, but apps could very well be the key to the next stage of inventory management. They make it possible to place orders and perform other essential functions on a smartphone or tablet. Under this setup, warehouse managers can still do their jobs when they are away from the warehouse.
They’re Empowering Employees and Employers, Alike
Employers want to get the most value out of their employees’ time, and employees want to feel a sense of accomplishment and progression in their work. With the aid of barcode scanners, mobile apps, and inventory management software, both groups can accomplish their goals. Employees can get more done in less time while employers can maintain security by putting limits on user access rights.
Employees can quickly perform cycle counts, place orders, receive inventory, and much more from the convenience of their smartphones and desktop computers. A lot of the heavy lifting is handled by the software, freeing up their time to work on other things. Administrators in the inventory management software can set up user rights so that employees are only able to see and edit areas that are pertinent to their jobs. They can perform audits to see which users made specific changes, and they can also run detailed reports to gain insights into how best to manage their inventory.
Conclusion
You can embrace the positive changes that are coming thanks to advanced inventory management systems by getting started with a solution that’s a good fit for you. If you carefully pick one that has the right features, you’ll be impressed by the new opportunities, automation, accessibility, and empowerment it has to offer.
