2019 Reviews of Inventory Management Systems

Imagine the following scenario: You spend thousands of dollars advertising a new product, causing hundreds of people to immediately place an order. The good news is that your advertising campaign worked. The bad news is that due to a lack of improper inventory control, you find yourself with only ten of the advertised items in stock, leaving you with ten happy customers and hundreds of unhappy potential customers who are now unlikely to purchase anything from your business in the future.

If you sell a product, you need proper inventory management software. Along with tracking inventory levels, a good inventory management application can provide business owners with the details they need to effectively run their business. Features such as product movement allow business owners to purchase inventory accordingly, keeping the most popular items in stock, while ordering less of those that are not. After all, no one wants a warehouse full of products that aren’t selling, yet thousands of businesses each year find themselves saddled with items they can’t sell. A good inventory management application can prevent that.

Inventory management can be just as important to manufacturers, where an out-of-stock item can hold up the entire manufacturing process. Service businesses can also benefit from a good inventory management solution; tracking parts and equipment. Other businesses can utilize an inventory management system to track computers and other internal assets, particularly those issued to employees.

The bottom line is that if you own any type of inventory, whether it’s for resale, utilized in the course of business, or provided as part of a service, you need to have a method to manage that inventory properly.

Today, businesses have the opportunity to choose from a variety of inventory management applications; some designed for smaller businesses while others work well with multiple locations and multiple warehouses. The reviews included in this issue can be a good starting point in your search for the inventory management application that is best suited for your needs. The products included in this month’s Inventory Management review include:

As we indicated earlier, various businesses use inventory management to perform specific tasks. While reviewing the above products, we looked at a variety of features such as deployment options available, mobile accessibility, barcode functionality, labeling features, kitting capability, asset tracking, the option to assign multiple pricing levels to inventory products, as well as the ability to offer separate pricing for different levels of customers. We have also included a handy chart that displays the availability of these and other features typically desired in an inventory application.

If you own or operate a business, chances are that inventory management software would be beneficial. Most of the products reviewed also offer a free trial period, making it easy to try a product out prior to purchasing.

Inventory is one of the most valuable assets any business owns. Be sure you’re managing it properly.

Accounting