Inventory management System Development Service | Inventory management System

Inventory Management System

Inventory management System is a software system for tracking inventory levels, orders, sales, deliveries, and to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock, outages and to organize inventory data that before was generally stored in hard-copy form or spreadsheets. The definition of inventory management software brings together all tools that help prevent products from decaying/decomposing, thefts, eliminate costly mistakes, and most importantly – keep all customers satisfied.


Features of Inventory Management Software

Inventory management software is made up of several key components working together to create a cohesive inventory. These features include.

Centralized Data System

The warehouse management module of our application provides you the complete data of your inventory, from in-house stock items to shipped goods and their price - marketing price, selling price, factor cost, etc. It enables you to plan, organize, and manage the utilization of the available resources and create alternatives for every item based on their attributes. With this Module, you can also categorize products between different groups and channels, and make them easily searchable by type, name, price, date, supplier, popularity, and many other filters.

Reorder Point and Automation

When inventory reaches a specific threshold, a company's inventory management system can be programmed to notify managers about a list of products along with their quantities that are required for the stock and assist you in reordering that product. This helps companies avoid running out of products - shortage of stocks or tying up too much capital in inventory - the issue of overstocking. When the stock is about to reach its re-order points, Pre-determined automatic purchase orders are generated so that you remain on the top of your inventory all the time.

Asset tracking

Asset Tracking enables you to track products when they are in a warehouse or store via its barcode and/or other tracking criteria, such as serial number, lot number, or revision number. Barcode Scanning allows you to track the products via their barcodes by exchanging electronic data through smartphones, eliminating the need to buy expensive scanning hardware. A barcode reader also assists you in Product Identification by reading barcodes and look up information on the products they represent.

Order Management

Order Management Module assists you in managing your sales and purchases from the same system, track orders and control stock levels, and even bill and invoice your clients. Online transactions and Centralized data system - inventory data are synced together to give updated information on your inventory. We at iShore software Solutions can also integrate Order Management Module/Inventory management Software with Accounting Software to organize and manage records all the financial activity within a business organization.

Delivery Management

Logistics features such as transport analytics and GPS Vehicle Trackers bring an augmented level of transparency to the movement of goods and materials. The warehouse managers can easily track each step of the vehicle from taking the product out from the warehouse to the destined delivery location and let the customer know the time of arrival.

Reporting Tools

Accurate, up-to-date and relevant inventory management reports will allow you to discover trends, identify weaknesses and strengths, fill gaps and inefficiencies, manage your inventory stock as accurately and optimally as possible, and help you grow your business. Our Inventory Management System generates Item fill rate report - the percentage of products from a customer’s order your business shipped, Inventory turnover – the number of times inventory stock is replaced in a given period, Inventory forecasting report -Projecting sales for the future and matching inventory stock levels, Specific identification – tracking the specific cost of individual items of inventory stock.

Benefit of Inventory Management System

Cost savings

A company's inventory is one of its largest investments, along with its workforce and locations. Inventory management software helps companies cut expenses by minimizing the number of unnecessary products in the storage facility, decreasing inventory write-offs, and lowering inventory holding costs. It also helps companies keep lost sales to a minimum level by having enough stock on hand to meet the market demand.

Centralized Storage

The more stock locations you have to administer, the more difficult it becomes to manage orders and transport products to the right customers. With an adequate Inventory Management System, Centralized Database in place, you will be able to track the availability of all products and services, and thus maintain customers informed on the status of their product delivery.

Better Planning and Accurate Forecasting

Inventory management systems help you with your planning as they track the status of your products, manage negative trends and opportunities, and retrieve vital historical data to predict the progress of your sales. Inventory tools are packed with analytic features that will free your time and pull off all important indicators that measure your productivity.

Improved efficiency

Inventory management systems come with tools that eliminate time-consuming and error-producing processes associated with manual systems and provide automation in several tasks. The software ties inventory to the Order management system and Accounting module. Inventory numbers and bar codes identify items, their location in the warehouse, and detailed specifications. These tools help make the entire system more efficient and reduce human errors.

Our Inventory management System development Services

Inventory Management System development

At iShore Software Solutions, we design, develop and help you implement a comprehensive Inventory management System with unique features to provide efficient mechanisms of business processes automation and maximizing overall efficiency and productivity.

Inventory Management System integration

Our custom Inventory management System development services include Inventory management System integration with your corporate software, social media platforms, and other third-party systems. We create single customer view systems with task tracking, comprehensive reports, and many other useful features.

Inventory Management System Upgradation

We at iShore Software Solutions offer software upgradation services that allow you to upgrade your existing software platform by adding modules according to your business needs and extend its functionality by streamlining business processes and automating workflows. We design out-of-the-box functionality and deliver custom modules that seamlessly integrate with your Inventory management System.

Inventory Management System Customization

iShore Software Solutions provides total solutions with the customization of the Third Party Inventory management System by altering the software system to meet the specific operational structure of the clients business and to deliver smoother functionality and matches the workflow patterns.