Best Cloud Based Inventory Management Software For Your Small to Big Business.

Inventory management is an essential element of your business whether you operate a small-scale or large-scale business in wholesale, manufacturing, retail, or other sectors.

To meet your customers’ expectations and deliver your goods at appropriate times is your job that demands efficient monitoring and management of your inventory. It gets even more complex and complicated if performed with care.

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In turn, it can impact your fulfillment capabilities and warehouse expenses. It could also put you at risk of investing a large amount in a stock that will not make sales.

Don’t fret. There’s an answer to these problems.

It is also software for managing inventory.

It helps you tackle these issues efficiently and effectively thanks to its unique and helpful tools to make your life easier and safe.

Let’s learn more about this program and how it will help your company achieve its goals.

What is The Definition of Inventory Management?

inventory management

Inventory management software is a tool that controls and manages the company’s current inventory, which includes its stocks, purchases and sales. It assists you in tracking every detail, keeps efficient stocks, and streamlines the pricing of your products.

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The program can help you in facilitating the logistics of your product management. It also automates several processes like shipping, trading, ordering and costing, storing and assembling, shipping and even delivery.

It also reduces the requirement for manual work and enhances efficiency, reduces expenses, and reduces time.In addition, it gives valuable insight to assist in increasing your company’s growth.

Today, you can discover advanced inventory management software on the market of various types and programs based on business types, industry, and inventory types. Cloud-based inventory management software can be much more efficient and can be upgraded and synced in real-time.

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The essential characteristics of the most modern software for managing inventory include:

  • Optimizing inventory
  • Asset tracking
  • Organization of warehouse
  • Identification of the product
  • Much More
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What are its different kinds?

Inventory management software can integrate the various tasks of an organization, using the latest technologies to store, order, buy, shipping, receive, and track, reordering and turnover.

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There are various kinds of software with different functions, For example:

  • Software for managing inventory on-premises
  • Small companies need to send information regularly and keep a smaller amount of products.
  • Barcode systems that allow you to locate and transfer stock effortlessly and effectively
  • SaaS systems which are hosted on the server of the vendor with a specific monthly payment
  • RFID-tagging software that can identify and control products with greater efficiency, but it’s costly
  • Perpetual systems are perfect for large companies that require to track inventory data continuously.
  • Cloud-hosted software is ideal for companies of all sizes because it’s affordable and accessible from any location, without maintenance or updates by your side.

We will now discuss the most recent cloud-based inventory management program that is becoming quite popular nowadays because of the reasons mentioned above.

You might think,

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What’s The Reason For Inventory Software For Management?

Here’s the solution.

It is crucial to ensure that the inventory is to allow for growth in your business. The entire procedure isn’t that simple. It takes an enormous amount of time, staff, and effort from storage, warehouse, shipping, trading, and arranging to keep track of the assets.

Manually managing everything can lead to efficiency and can cause delays in time; as a business, you should never wish to oversell your product or have back-orders. It could affect your revenues and sales.

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This is why you require efficient inventory management software to enjoy the following advantages:

Automation of the inventory task

The software can simplify the management process by using sophisticated tools. It can be integrated to monitor and control inventory, sales, purchase records, and the number of items you have on hand.

Productivity increases

productivity

If you’re well-aware of your warehouse’s product state and monitoring metrics, you will have an understanding of how your company is growing. You can cut down on a lot of time and effort spent on manual tasks and repetitive techniques, which improves your efficiency.

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Customer satisfaction

In the light of all the data available to you, you’ll be capable of serving your customers better with all the information you have. You will be able to purchase stock at the appropriate moment, process more orders, and more quickly get products delivered and shipped earlier.

Thus, it improves customer satisfaction because of their order’s speedy processing and increases the probability of coming back for more purchases to build a relationship with the company.

Better product management

To satisfy the demands of customers to meet the demands of customers, you should be able to keep some stock on hand at all times. Because of poor management of products, businesses could be at the risk of stocking too many products.

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In this way, they may limit the cash flow, incur losses, incur warehouse expenses, etc. Inventory management software can handle all of these issues by monitoring your inventory, removing the blockage of resources, and ensuring the right price.

In addition to these advantages, the software solves storage issues, speeds up repeated purchases, provides precise financial accounting, tracks purchases, shipping and stock transfer. It also provides accurate reporting, can handle low theft incidences and much more.

Which Industries Require Managing Inventory?

industries inventory

Sources:https://geekflare.com/inventory-management-software/

The current market is more efficient than ever before and is more competitive. So, if you wish to grow your business, it is essential to use the right software for managing inventory.

Industries that need the software include:

  • Distribution of food
  • eCommerce companies
  • Electronic devices
  • Products for athletes, beauty, health cooking essentials, home-ware and many more

If you do some research on the inventory management software, you can discover a myriad of available software options, which could be a long and stressful job.

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To reduce your time and energy by look at the following software for managing inventory to pick the right software for your company according to your specific needs.

Cin7

cin7

Many sellers and retailers depend on Cin7 because it lets them organize their complete inventory in order to boost sales and grow their business.

Cin7 is a powerful software to link your products, including stock locations and order channels and sales channel warehouses, workflows and reports, etc., into one automated solution. It equips your managers in operations, finance eCommerce, warehouse, and finance with the tools needed to function efficiently.

It lets you sell your product via different channels, whether retail, online, or wholesale, and comes with various options. You can manage everything precisely and efficiently by sourcing by purchasing or contract manufacturing or even simple manufacturing.

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Create exact prices, payment terms and quotes. Provide exclusive product catalogs and assist your B2B customers better when they shop at your wholesale shop. You can control the entire transaction, from EDI orders to large purchases.

Cin7 helps you organize your warehouse using its customizable fulfillment when the company receives orders for purchase and complete dispatch. It can help eCommerce companies reduce stress in selling through automated inventory tracking, order management and shipping.

The software has 550+ integrations for managing your shipping, orders and inventory, workflows and even your accounting. The most popular applications integrated with Cin7 include Salesforce, Amazon, Shopify, Xero, QuickBooks, Accent, Synnex, 3PL Center, Shippit, PayPal, and more.

Veeqo

veeqo

The one system of Veeqo gives you complete control over your inventory, regardless of the amount of sales channels and warehouses that you manage.  It’s equipped with latest tools that will assist you provide the most enjoyable experience for your clients.

Maintain your inventory in order across multiple websites, including physical stores, online stores, or marketplaces, at a moment’s notice. Sell anywhere you like and receive daily updates on the stock levels immediately.

Veeqo offers multichannel inventory features like inventory syncing, multi-warehouse route routing, inventory forecasts, and more.

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Manage your orders across your sales on one platform so you don’t delay your orders or sell them once more. There are features such as the management of returns, support desk integrations, smartphones, and wholesale management.

Enhance the productivity of your warehouse by using Veeqo’s user-friendly platform that lets you pack, choose and manage your goods without any hassles. It comes with additional features like bar code scanners, picking automation, Veeqo scanner, and warehouse reports.

It is easy to ship orders in bulk through various sales channels, monitor delivery status and automate all routine tasks all in one place. It comes with printing shipping labels, tracking of parcels and tracking, automatic carrier selection, and integrated shipping labels.

Veeqo integration with more than 40 solutions that include online platforms with more than 20 shipping companies, 3 accounting software Point of Sale systems, 3PLs, point of sale systems, and more.

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The Veeqo application is available for iOS or Android both and lets you control everything with your fingertips. They also have an enterprise-grade bar code scanner called Veeqo Scanner to help you further.

Unleashed

unleashed

Gain instant insight into your inventory, production suppliers, customers, and production and effectively manage them using Unleashed. This platform is perfect for wholesalers, distributors, and even manufacturers.

They assist you in managing everything by offering a wide array of functions to help you reduce time, increase performance and boost profits. They offer you continuous inventory control, meaning you’ll always be aware of what inventory is available at which point.

Maintain your inventory counts, and levels up and lean no matter the number of warehouses or products you handle. Beware of stock-outs, master margins and increase sales orders in a hurry. Make use of strategic pricing, manage stock across all supply chains, and much more through Unleashed.

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Increase transparency in the complex manufacturing process by keeping track of batches and serial numbers and the product bills, auto-assemblies, and assemblies. Profit margins should be healthy and track accurate production costs.

Unleashed allows wholesalers and distributors in managing their warehouses at multiple locations with just one software. Make stock-taking easier, buy and sell in various currencies, and make use of bar code scanning.

Keep track of how your business is doing by keeping up-to-date KPIs through Unleashed’s Enterprise Intelligence tools.

You can access and examine your business information with more than 20 reports about your business operations to determine what is working and the areas you can improve. Utilize your Unleashed Sales program to equip sales and admin staff with the precise information about the inventory they need.

Allow your trade customers to benefit from the B2B store. It will cut down on how much time dedicated to the individual transaction.

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Unleashed secures your business customer data and information by using advanced security features, such as user access control via accounts and 2-step authentication. Automate your processes by integrating the software with Xero, Salesforce, Prospect CRM and many more.

Brightpearl

brightpearl

The digital operation software from Brightpearl is designed and developed with retail in mind to assist Omnichannel sellers and enhance their operational flexibility. It allows them to increase sales, react to shifting market conditions and surpass the expectations of customers.

Brightpearl provides a vast infrastructure to help you simplify and centralize crucial processes like post-purchase, inventory fulfillment, order management, logistics, shipping accounting, purchasing CRM, POS, analytics for business and management of suppliers.

Centralize your online and offline channels for sales and inventory locations, suppliers and customers on one system to cut down on time and lower costs. Automate other labour-intensive procedures throughout the workflow, from order fulfillment, shipping and inventory allocation, purchase and invoicing, all the way to accounting.

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Transform your data from business operations into actionable, valuable insights using financial data, live-streamed analytics, real-time data, and forecasting on customers, products and sales channels. It will assist you in making more efficient and quicker business decisions.

Allow quick adjustments in unexpected changes in the market, business expansions and increasing demands from consumers. Brightpearl’s flexible functions assist you in scaling quickly without compromising the business processes or delays in time.

QuickBooks

quickbook

Manage your business across different channels by using QuickBooks. It allows you to display your product on various platforms and easily manage them to build brand awareness while gaining more customers.

Monitor the fulfillment process and stock across different locations and sales channels from one location and control all activities to ensure your listing of products, information, and orders are up-to-date.

QuickBooks can be described as the best and most reliable accounting software that can be used to understand better your expenses, income margins, profits, and much more. Automate tasks like invoicing, bank reconciliation, financial information, budgeting, and eliminating the need to enter data.

It is easy to organize everything and be prepared for tax season without stress or work. You need to record and keep all receipts and be informed via their mobile app to remain in compliance and maximize deductions.

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You can link your bank and credit card accounts to QuickBooks and immediately gain better insight into your money flow. See your profit, loss and balance sheets in one glance by simply clicking while streamlining your bookkeeping.

QuickBooks lets multiple users make use of the software at the same time, keeping track of every action. It aids accountants, bookkeepers, and other colleagues perform their duties efficiently.

QuickBooks employs industry-leading, advanced security tools to guard your data. It also backs up everything you need to access from any location, at any time and on any device. Make your accounting software more flexible with tools for time tracking cloud accounting, the management of inventory and payment processes and many more.

Orderhive

orderhive

The user-friendly but robust inventory management software from Orderhive can help you simplify your business to allow you to concentrate on expanding your business.

Record inventory in batches or lots that auto-synchronize across sales channels and find it quickly with the help of the software. Simplify the management of your products regardless of whether you own hundreds of SKUs or one store, several stores, or just one store using the dashboard for virtual storage of your products.

Manage your catalogs of products with basic, bundled, and other variant products. You can customize pricing options, upload and export bulk product information, generate bar codes and print them, control various inventory locations, and take advantage of clever tags and categorization.

Keep track of your inventory, commitments and due arrivals in real-time. Manage the number of batches, and the expiry date and multi-warehouses, such as Amazon FBA and 3PL.

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 You can also sync both online and offline inventory and create automated rules.

Reduce the chance of overselling or underselling by being aware of the inventory coming in and out. Set alerts for out-of-stock or low-stock Reorder levels, automated PO creation and stock count forms.

Keep track of packing, picking and the process of shipping items from warehouses. You can also reorder items back-ordered or reorder them and alter pricing and stock quickly.

Keep up-to-date and make informed business decisions using precise, real-time information on inventory audits stock, COGS price history, back-orders purchases history, and a movement overview.

Integrate Order hive with various services like Amazon, eBay, Stripe, WooCommerce, Bluedart, Xero, USP, FedEx and many more.

Zoho

zoha

Get complete inventory management software using Zoho. From managing orders to keeping track of inventory to managing tax issues, it will help companies alleviate their inventory concerns.

The one-stop application allows you to categorize, customize and track items for better control over your stock. You can categorize items according to their characteristics, manage the products in different warehouses, track their movement, and look for serial numbers and expiration dates.

Maintain a high-quality customer experience by managing the entire process from receiving orders until dispatching, without filling in with data at each step. Make packing slips and print labels according to your preferred format. Convert sales orders into invoices, send them by email and monitor the status of your invoices without difficulty.

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Manage transactions and vendor bills efficiently and stay clear of loss of data or relationships that are compromised through the transactions. To do this, you need to prepare price lists and then update them promptly, keep track of payments and unpaid ones, make back-orders and drop-shipping and track your order records.

Grow your business by integrations like post-shipment that notify your customers regularly with a consistent message; marketplaces and shopping carts to increase sales; Crossfire EDI to streamline order receipt processes; Accounting solutions such as Zoho Books and CRMs such as Zoho CRM.

Enjoy the benefits of automation by using features such as bar code scanning, changing URLs with web-hooks, Deluge Script, etc. Zoho lets you create reports quickly to assess your business’s performance, group items by using the SKU generator and even reorder points in case of inventory shortages.

DEAR Systems

dear

DEAR is a cloud-based ERP software that lets businesses connect with various sales channels, monitor these channels, and develop their business even more. It’s an excellent inventory solution for various industries, such as wholesale, manufacturing and retail.

This inventory management software with multiple modules helps your business grow with top-quality features and streamlines the process to save you time. It streamlines the process by combining functions into a single program to control sales across various channels.

Make intelligent decisions regarding manufacturing production, sales, and manufacturing with the bills and other relevant data readily accessible on the simple-to-use dashboard. You can incorporate VAT-compliant inventory software and accounting software to minimize financial risk.

Make use of the retailer POS solution that’s easy to use and easy to deploy, and efficient to allow you to sell across multiple platforms and organize the storefront. Help ease fulfillment with their sophisticated Warehouse Management Software (WMS) and cut expenses. From workflow to reliable reports, DEAR leverages powerful automation.

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Additionally, it is also a way to make B2B payments easy on all invoices and finalized orders. You can easily manage everything, including planning production, purchasing schedules for raw materials, and capacity planning.

Conclusion

The days of spreadsheets have gone. New and innovative technologies allow quick, simple, secure, and safe ways to manage your inventory.

Therefore, you should use software for managing inventory to handle everything in one place, from purchasing stock storage, bookkeeping, fulfillment, orders and billing payments and monitoring your company’s performance.

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