Online accounting software with Payroll and Inventory
July 9, 2018

Online Inventory Management Software for Small Business

Online Inventory management software unlike any inventory management system is a cloud based inventory system

The term online inventory itself defines that it is a cloud based management software for inventory

So an online inventory management software should have all the basic features required for managing the inventory.

Let us assume how a small business keeps his inventory managed

The fundamental aspect of storage when it comes to keeping inventory maintained is setting up its order levels

And setting up the simple to complex racks and bins for physical inventory storage and tracing

Also look at the other side like excess storage, non moving inventory and expiry depending on the nature of the product

So whenever there is a fall of inventory or expiry for a specific item there is a reminder to it

Reminders can be as such as like firing an SMS or an Email to the authority or it can be a pop up in the system/apps

So whatever types of reminder it is, alerts are important at the first place

And it is the only strong backbone of knowing something which has gone critical inhouse

So it needs to be maintained timely under the hood as soon as it is informed by the system

Also either you are do a purchases or you make a stock movement it has to be entered on real time.

And if you manufacture inventory, than daily stock journal is a must

The difficulty in stock management only arises when there is a lack of real time pulling of information

And the bigger issue is skipping the entries on real time that has to be feed on the system

 

What makes a system the best Online Inventory Management Software?

Most of all inventory management  system works the same way

But you need to be aware of the functions in a system what are prerequisite for better inventory management

We cannot improve inventory management overnight

It requires setting up of the right parameters in the masters

So what are those parameters?

Define your different physical boundaries like warehouse, stores and plant in the system

And manage the sub-inventory and locations which includes the store, racks and bins

Proper numbering of racks and bins can help trace your inventory well when there are bulk number of items

The parameters also includes the reorder level management and in some cases the maximum and minimum level

You also need to manage the expiry level of the items if it is of perishable nature

So these are the basic function of an inventory management software which makes system better

 

Why online inventory management software now?

Online is the not the best real time system but the only real time system in the world

Real time makes worth investing your time on reports and analyzing your data whenever you want

Because it provides the accurate information for the present and current happenings

For knowing any kind of activities which is based thousand of kilometers from you, yes real time is the only solution.

You ask a business who have several trading and manufacturing locations for his business, they knows the true value of being real time.

So until you have the complexities you won’t search for the related solutions to cover the gap

We only value something when it solves our complexities and improves our life and adds value to its existence

So real time system saves time from messing up with historical data and not knowing about the present

Thus online inventory management software and even online accounting come to exist for better business visibility

Making a strong foundation for your business visibility can enhance your business perception

And overall functioning of the inventory management can go high

Also being real time the total inventory of a particular item can be released in case of any urgency to cover a demand

Thus the online inventory management software bring multiple locations under one roof

And you are all done within a minute to keep yourself updated of any demand to fulfill

 

Conclusion:

ZipERP is one of the best online Inventory Management software in India

Managing the inventory is crucial for every business

So business which has spread across multi location can increase their visibility as like bird’s eye view

And are more likely to get the benefits of using an online inventory management software

And even though if is a single location as like most of small business, its good to be a part of the real time system.

Online inventory management software will definitely bring more improvement over the offline system.

Because you don’t need to communicate every time to a store person to know the status of inventory

All you need is to open an app to get the stock movements and closing for all locations

 

 

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