Inventory management software

Contact Us: M: +91 9611 171 345
Inventory Management Software
Copyright Reserved @ 2019 SalesBabu Business Solutions Pvt Ltd. Website:
www.salesbabu.com Email: sales@salesbabu.com
With digital technologies on the rise, we have to be well prepared for our customer
requirements and manage our inventory accordingly. In today’s world, “out of stock”
message for a customer means losing them until the next time they might visit our
products again. At the same time, having an excess of stock for similar products also
reduces our business proﬁtability and revenue generation.
In other words, in today’s competitive world we need to have a well balanced
inventory management to have a smooth and proﬁtable business strategy. Gone are
the days, where inventory could have been managed using exceelsheets and card
system. Now a days we need to be well aware and proactive in maintaining our
stocks to pace up with the growing customer market.
The best inventory control software like SalesBabuCRM will be a one stop solution
for sales to inventory management requirements.

Contact Us: M: +91 9611 171 345
What is an Inventory Management?
An inventory management system is a process of tracking goods movement into and out of
a company’s locations. These processes cover everything from production to retail,
warehousing to shipping of products, and all the movements of stock and parts in and out
of organisation premises.
In other words, it means as a business, you can see all the moving stocks for your
operations, allowing you to organise and take better decisions on investments for your
products and spare parts.

Contact Us: M: +91 9611 171 345
Type of Inventory Management continues..
Manufacturing inventory management software
The manufacturing inventory software work around manufacturing parts and bills of
materials(BOM). Inventory management at this point will be helping in :
● Materials tracking
● Inventory levels for parts and finish products
● Automatic reordering
● Integrations with ERP or maintenance software
Warehouse inventory management software
Warehouse inventory basically deals with in-house or in-shop stock management.
● Stock maintenance levels
● Multiple location support
● Stock quantity tracking systems
Retail inventory management software
Retail Inventory management system comes next to manage and organise their orders
items before they become fully sold out. Robust inventory management systems can help
organisations to strike a balance of ordering products to be able to sell adequately and not
ordering more which cannot be sold. With these advanced levels of inventory
management foresight, businesses can capitalize on its sales opportunities and improve
revenue generation for the organisation.
A lot many other functionalities apart from some these basic ones will help in your retail
inventory management.
● Order picking support
● Automatic reorder
● Inventory forecasting tools

Contact Us: M: +91 9611 171 345
Challenges of Inventory Management system
An inventory management system software has its own challenges in managing each
spare part, raw material, final products, and delivery deadlines. The main thing to
understand here is, with a well organised and systematic system for tracking your
inventory can still cause you some errors and mismanaged product deliveries, think of
a situation where you don't implement an inventory software for your system at all.
Hence, it’s very critical for your business to maintain a good stock inventory software
system which can keep a track of all of the essential goods they need to sell to
customers on a daily basis. Also, when products are sold, they must be documented
clearly and refilled to maintain a healthy balance between overstocks and stockouts.
The supply and demand change is not constant and there are wear and tear cases with
mishandling, changing seasons and course of product life cycles. Inventory and order
management system should make sure that regular checks are done to regularise the
old stocks and move them faster before a damage happens to organisational property.
Along with different units of measurement and measuring criterias in various countries
is also a cause of concern to many product delivery businesses. We need to abide by
laws and taxation rules of each country to make sure safe and secure delivery of our
end products.

Contact Us: M: +91 9611 171 345
Advantages of an Inventory management
software
Basic Inventory Control
The basic requirement of the best inventory management system is to create an
organised process of handling inflow and outflow of products in the organization. Most
of the traditional organisations will handle their regular inventory management using
spreadsheets which might be beneficial in the initial stages of the sales process, but as
the firm grows with the incoming flow of customers and product delivery, it needs to
quickly shift to a more systematic method of inventory management. Studies from
SBA.gov shows poor inventory management is one of the top eight reasons why small
scale ventures fail.
Basic inventory details like the product and respective vendors data, Bills of materials
(BOM) for spare parts and raw materials, challans and Goods Receipt note(GRN) are all
needed to keep a healthy state of inventory in the firm and maintain a constant revenue
generation in the business.

Contact Us: M: +91 9611 171 345
software continues...
Demand Forecasting
Demand and supply chain is an important part of revenue generation. Overstacking or
out of stock situation in the business is a major reason for loss for business operations.
As business leaders and sales heads, proper information regarding product demand
and supply status needs to be available to perform best in the market.
Inventory control software provides a lot of in-built metrics and data statistics to drill
down into the attributes of your sales and fetch important information to keep more
accurate levels of inventory and make better foresight decisions about what and how
much to buy, which will strike a balance between our sales cycle.

Contact Us: M: +91 9611 171 345
Centralized Data Storage
Mismanaged inventory handling is one of the key reasons for business failures. With
every growing business, we need to track more no. of products, numerous vendors and
an endless raw material list with incoming and outgoing product bills, return slips and
other sales details. Doing it manually is a very ineﬃcient and non productive way of
inventory data storage.
Stock management software like SalesBabuCRM provide cloud based centralised
database to store every detail of our inventory handling starting from products,
vendors, various purchase and return bills, delivery challans and more. With this
centralised database, every information is documented properly which gives a
systematic system of tracking and maintaining our inventory details.

Contact Us: M: +91 9611 171 345
Eﬃcient stock operations
Regular customer updates on stock availability and the product delivery are the need
of the hour in the current economic market. With a centralized database of inventory
details, employees need to spend less time in fetching details on each product and its
delivery status. Smart and eﬃcient inventory management system like SalesBabuCRM ,
act as a pillar of any retail business by providing end-to-end support for every sales and
inventory requirement in the organization.

Contact Us: M: +91 9611 171 345
Warehouse Management System
Check stock level, manage inter-warehouse transfer, and generate reports for specific
warehouses with few clicks in a few seconds.
With Online Warehouse inventory management software at our fingertips, businesses can
track its stock level, inter warehouse transfers, inflow of products, reports on warehouse
up-keeping and many other useful features without any hassle and provide a better
customer support system for the organizations.
On time Delivery
Well organised customer data, product information, reminders for product delivery dates,
vendor contact information and other details are useful to maintain and track product
delivery status and take proactive measures to remove any hindrances for on-time delivery
for products for our customers.
One of the biggest advantages of an inventory management system is to improve product
delivery statistics for the organisation.

Contact Us: M: +91 9611 171 345
Conclusion
The best Inventory management software acts as a bridge between
product demand and on time delivery to its customers. An inventory
management software for small business helps to resolve and
strategies all the inventory challenges such as raw material shortages,
carrying costs, and supply chain disruptions and regularise product
and revenue generation for an organisation.

Contact Us: M: +91 9611 171 345
Thank you for Visiting Us
Our Address
SalesBabu Business Solutions Pvt. Ltd.
No.38/11, 3rd Cross, G Block, Sahakarnagar, Bangalore – 560092
Tel: +91 9611 171 345 ,
Mobile: +91 9341 323 571
E-mail: sales@salesbabu.com
Website: www.salesbabu.com

Inventory management software

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Mehr von SalesBabuCRM

Mehr von SalesBabuCRM (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

Inventory management software