Online inventory tracking software

Online Inventory Tracking
Software

Contact Us: M: +91 9611 171 345
Online Inventory Tracking Software
Copyright Reserved @ 2019 SalesBabu Business Solutions Pvt Ltd. Website:
www.salesbabu.com Email: sales@salesbabu.com
With small scale ventures and startups, we have great competition in the market
regarding product delivery and productivity. Most of the small and medium business
feel that maintaining the storage of inventory, controlling the amount of product for
sale, and order fulﬁllment can be a tricky job but still use excel sheets, google
sheets, or other manual tools to keep track of inventory databases and make
decisions about ordering. Nearly 46% of SMB’s with 11-500 employees still don’t track
their inventory.
According to SBA.gov, poor inventory management is one of the top eight reasons
why small scale ventures fail. With increased awareness, many growing businesses
migrate to an inventory management system with capabilities beyond manual
databases and formulas.

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What does inventory mean?
Inventory is the quantity of the current stock of a manufacturer or retailer. This can include
raw materials, work-in-progress goods, product parts that will be used later in the
manufacturing process and ﬁnal products which is sold by businesses in order to generate
revenue.

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What is Inventory Management?
Inventory management is an organised process of controlling the amount of your product
stock, asset management, product visibility, physical space for inventory, the return of
faulty goods, valuation, and future price forecasting.
In other words, Inventory management is the required steps to ensure that your demand
and supply network will work without hiccups. Inventory Management process makes sure
that these details are taken care of, and your inventory is always balanced and you never
run out of stock.
Inventory turnover is accountable to be one of the most important aspects of a business as
it is responsible for generating cash, and thus create overall business profits.
Today, the latest technology has made a vast difference in the way inventory was tracked
for organisations. However, many companies still prefer to use manual ways of inventory
tracking using spreadsheets and manual challans.
The companies who have evolved from these traditional ways of inventory tracking can
clearly feel the difference by implementing automated Inventory management software.
These softwares will have numerous advantages along with complete automation of
notifications received when an inventory movement occurs. Automation Inventory tracking
has completely removed the window for human errors and rework and eventually improve
business profitability.

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What is Inventory Management software?
A retail Inventory management system is defined for business-to-consumer (B2C) selling.
Two types of Retail inventory management are defined based on where and how the sales
takes place.
● E-commerce or online retail (eCommerce) is the purchase done online.
● Whereas, offline retail is where the purchase is done physically through a store or via
a salesperson.
Warehouse Inventory Management, on the other hand, refers to business-to-business
(B2B) product selling.
Understanding these different types of inventory management types help us to select the
most suited one for our organisation.
In current scenarios, many companies opt for a mixed inventory management system to
club the advantages of each model and maximise its product sales.

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Advantages of Online Inventory Management
software
Centralized Product information
Inventory management system provides centralised location for storing every detail about
a product and its vendors.
With these database entries, you can track the availability of each product and services.
Once the product in question is ordered from the customer, proper information about the
customer details, delivery date, and other information are added to a centralised database
which helps to promptly inform customers on the status of their orders.
Also, these centralised storage facilities help to keep a track on various Bills of
materials(BOM) for each product and its respective vendors to properly track each spare
parts and final products item. Other details which are needed for each product delivery like
sales receipt, purchase order bill, return bill, return payment and many other details are
diligently monitored using this centralised database to keep a track of each and every
information on incoming and outgoing products in the firm.
With the best online inventory management software like SalesBabuCRM, every minute
details starting from raw material to final good delivery is documented and tracked using a
cloud based database which helps in end-to-end support for inventory handling in an
organisation.

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software continues....
Eﬃcient stock operations
Many organisations incur huge losses due to missing and stolen raw materials because of
improper stock handling.
SalesBabuCRM online inventory management system, automates every manual stock
management process and saves a lot of time and eﬀort for the employees. Along, with this,
every item is tagged and linked with its product information and vendor receipt details in a
centralised location, which helps to track any missing raw material or spare part of a
product.
With details on every raw material, companies can keep a track on its raw material quality,
availability and reduce any forgery and delay in product availability to organise and
accelerate the delivery process. Also, with proper analysis and estimation of raw materials
and its production requirement, we can save a lot on unnecessary wastage and unknown
theft in the organisation.

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Improved sales
Quick Generation of automated Delivery challans and Good Receipt notes(GRN) are some
of the measures taken by inventory management software to keep a track on no. of
products delivered to the customers and the validation of each product sent to the
customer.
Customers can quickly verify the delivered goods and send the automated receipt
generated through these inventory management software to track and authenticate the
product delivery and service quality.
With these facilities, customers are rest assured on the product delivery and can track the
quality of services provided to them and send appropriate feedback based on their
satisfaction level. These measures help to reduce human error and further strengthen our
customer relationship and overall experience thus improving sales for the organisation.

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Delivery tracking
With increased online shopping and market shift towards online technologies, customers
are more demanding towards on-time delivery and regular order status updates.
With inventory management software we can organise our internal inventory process,
maintain our delivery deadlines and track our product delivery on every step, preventing
customers from waiting for ages for their shipment to arrive.
With GRN and other receipt details in the software, customers are well informed on the no.
of the products delivered and the whereabouts of each delivery status.
Online inventory management helps to organise our delivery process and provide
complete support for prompt shipment delivery for our customers.

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Accurate planning and forecasting
Online Inventory management systems provide numerous metrics and statistical tools to pull
out all important indicators that measure your sales productivity and retrieve vital historical data
to predict the pain points of the inventory system and progress areas of your sales cycle.
With these Information system metrics, we can track various analytical data on the status of
your products, negative trends and opportunities on every product, in demand vendor and
products, and other information. These analytical data helps to plan our futuristic policies to
enhance our inventory handling and create more customer centric environment and features.
Cost Effective
According to an article from Entrepreneur, “Companies can increase their profitability 20 to
50 percent or more through careful inventory management.” Those numbers are
significant.
With the numerous tool of organised and managed online inventory software system,
organizations can reduce a lot of cost by minimizing raw material wastage, duplicacy,
forgery, and stolen materials. Also, with an automated system in place, human errors and
rework are considerably reduced which saves a lots of time and money for our
organisation.

Contact Us: M: +91 9611 171 345
Conclusion
The online Inventory management system is a one-stop solution for all
your inventory management requirement and product tracking needs.
With the best inventory management software like SalesBabuCRM, we
can create a well organized and systematic process of tracking and
managing our products starting from every raw material to ﬁnal
customer delivery.
With these systematic process management, organisation can
improve on their inventory turnovers by maintaining the proﬁtable
goods in stock and providing quick customer deliveries to improve
overall customer satisfaction rate and experience with your
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

Online inventory tracking software

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Online inventory tracking software