The Importance Of Inventory Management Software

Inventory management software is an important application for any company that is into manufacturing goods. Without this software it will be a tedious task to manage the inventory. There are many commercial and free inventory management software in the market. To start with you can try any of the freely available inventory management software.


These free software can be downloaded from the internet and installed in any number of machines. Some of the vendors charge only for the service you need from them and the software is given for free. You can avail such services if you want to know how to use a feature or find any problem in using the free software.

 

Along with the inventory management software you might also need accessories like bar code reader, barcode creator, RFID or smart cards for managing the inventory. If these are also installed it will be easy to manage the inventory in your company.

The inventory management software has lost so features that are found in almost all such software. A feature to add the items into the database and categorize the items is available. Feature to key in the units of the materials is also available. Other tools like conversion tool for converting one unit to another and an interface to add all the godowns to the database is also available. The prices of the different materials in the inventory are also to be added hence a feature to add the prices is also needed.

 

Reports of several forms can be taken using the inventory management software. Item details can be taken along with the stock level, the rate, and unit. You can also print the group-wise list of the materials. You can also view the stock status for a particular date or during a period. This shows the opening stock and the closing stock. The daily transactions done with the inventory can also be viewed. Ledgers for stock, registers for sales, purchase and the total sales item-wise and group-wise can also be got. You can also view the stock levels based on different godowns. Profits item-wise and group-wise and party-wise can also be shown.

 

These basic features of inventory software are usually available in all the software. If you want anything added to this software you can request the vendor who would be happy to add a custom module according to your needs for a nominal price.



FREE Subscription

Stay Current With the Latest Trends & Developments Realted to Management. Signup for Our Newsletter and Receive New Articles Through Email

Note: We never rent, trade, or sell our email lists to anyone. We assure that your privacy is respected and protected.