7 Things To Take Into Account When Selecting An Inventory Management Software
Whatever the size of your business, if you have a large amount of inventory you plan to sell to customers that you must inventory management. If you still insist on managing your inventory manually by using pen, paper and Excel spreadsheets, that means you are ready to face a variety of risks including inaccurate records, inventory shrinkage and overstock, or delays in shipping. If you're currently thinking using an automated inventory solution it is important to be aware of these important factors.
Your requirements
Understanding your needs is the first step towards meeting with the vendor. Find out what obstacles you encounter in managing your inventory and the solutions you anticipate. Are you trying to keep track of the status of your products' shipping? Do you simply need to keep track of the inventory levels of your business? You can secure the best price faster by letting us know your needs in advance.
Cost
The price of software varies dependent on the features you require. It would be beneficial if you can find out the cost of the program, so you can decide whether the price offered by the vendor is worthwhile or too expensive.
Before you make the decision to invest in inventory software before you decide to invest in inventory software, you have to make sure that your business is in good shape for the big plan. Look over your budget and ask yourself; is this the right time to invest in technology? Since they're cheaper than traditional inventory systems, cloud-based inventory solutions can be a great alternative for small and medium-sized businesses as well as those who have limited funds.
Customization
If you have a lot of needs, you may need to customize your inventory management software. It is important to ensure that the software is customizable to meet your requirements.
If you are currently using an inventory management system and you want to add another one with different functions check if the new one can be easily combined with the existing one.
User-Friendliness
Usability is usually overlooked by business owners, while actually, it's a factor in how efficient the use of software for managing inventory in your business. It's not worth it if it takes your staff hours to learn the intricacies of the software. If you're seeking to make inventory management simpler, choose the most user-friendly solution.
Integrations
Although you might not need automated solutions, other than inventory management software, they'll become necessary as your business grows. Currently, most of startups have utilized up to four apps to streamline their daily processes. This is why you must make sure that the software you select allows integration with other systems. Systems for managing inventory are typically integrated with warehouse management as well as accounting, eCommerce as well as purchasing systems.
Flexibility
Another important point to consider when deciding on inventory management is the versatility. See if the software you are considering is compatible with mobile devices, how many users can use it, if it's a web-based or on-premises , and so on. Flexibility is crucial, particularly in the case of multiple warehouses or stores that are located apart.
Support
When you purchase inventory management software, you don't want to be left with no one to help you and trying to figure out how to use it. If you're unable to find your purchase transactions , or your employees don't know how to create low-level stock alerts, you will need someone to help you find the solution as soon as possible. So, ensure that you will receive complete assistance through training, warranty, or assistance.