Features of Inventory Management Software
In the past, small and medium businesses have had the choice between using ledger books or spreadsheets to manage their inventory. Managing hundreds or thousands of products this way is inefficient and prone to human error.
This complexity can be multiplied hundredfold when dealing with multiple warehouses, multiple selling channels and if more than one person is involved. Below are some inventory software features you should bear in mind when looking for the right program for your business.
For example, TradeGecko supports businesses that operate with multi-users, multi-currencies and tax requirements, multi-warehouses, as well as CRM tools and integrations that are essential to business such as QuickBooks, Xero, Shopify, WooCommerce and more.
Whether you’re a distributor, a brand owner selling wholesale or a direct to consumer eCommerce business, proper inventory management is crucial to ensuring the efficient operation of your business. With a good inventory management system you can manage your inventory, orders, and customers from one place.
Allowing you to take orders, sell more, and work smarter, a solid inventory management system means you have more time to focus on growing your eCommerce or wholesale distribution business.
Some features of a good inventory management system which our partners offer are:
You can improve stock and inventory tracking through automatically updated stock levels whenever sales and purchases are made. You can also manage your inventory across multiple warehouses, and in multiple currencies.
Create, edit, and email purchase orders that update inventory levels automatically while ensuring data accuracy. You can also generate reorder reports so you know exactly when to order more inventory.
Our partners’ Inventory management system allows you to have the right amount of stock at the right time. You can now streamline your internal operations through automated demand forecasting, inventory optimization, and reorder points.
Manage multiple warehouses and inventory locations efficiently across all locations on a single platform. Use a system that lets you transfer stock between warehouses, receive and fulfill orders through specific warehouses, and more.
Customer Relationship Management (CRM)
Keep all your customer and supplier data in one place. Automatically record your customer’s order and purchase history, so you can understand customer behaviors and provide a more personal customer experience.
Synchronize your orders with your inventory and increase your business efficiency from order creation to fulfillment. You will be able to synchronize orders with your inventory and access sales reports, all in real time.
Now you’re able to automate and control your order fulfillment in a greater volume and at lower costs. Integrate your channels, locations, and processes for greater visibility.
Whichever accounting platform you use, the accounting system integrates seamlessly with your inventory and order management systems. Automate your invoicing and gain greater visibility over costs and profits with the multi-currency pricing and more.
Batch and Expiry tracking
Batch or lot tracking allows insights into product traceability helping you maintain better customer relationships, reduce discounts and spoilage, and improve your business workflow. It also helps you handle recalls more easily if anything happens in the production line.
Access accurate inventory reports that offer real time insights into stock movement. Our inventory management software allows you to run stock reorder reports, inventory stock on hand reports, and more.
Access and generate accurate sales reports that offer insights for better business decisions, all in real time. Our inventory management software allows you to generate sales history and order reports by customer, product, channel, location, and more.
Flexible pricing tools
Managing product prices is key to running a business. Our partners’ inventory management software allows you to manage custom price lists in different currencies, for various customer types, product categories, zones, and so on.
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