Inventory management

A supply chain is a vast business that involves the supply of products to warehouses, plants, customers or stores. The supply chain business also deals in the transformation of raw materials to finished products and later delivering them to end customers. Thus, a supply chain is basically a linkage between suppliers and companies. A product passes through a series of stages to reach the customer and a supply chain is all about the stages and the process. In order to manage the tactical administration of materials and their movement from their source to the destination a Supply chain management software is designed.

Supply chain management software is the perfect way to automate all the processes. It manages, controls and also audits every step involved in the supply chain. With its numerous features, it helps the growth, boosts efficiency and saves overall expenses.

Features:

• Inventory optimization:

It helps to keep the required amount of goods and resources in the inventory. Also, it manages fluctuations, demands, and schedules restocking according to the demand. Moreover, it provides tracking of items with the help of barcodes and serial numbers.

• Warehouse management:

The supply chain management system is also used for tracking goods, stock picking, managing warehouses, shelving, shipping and receiving warehouse items.

• Demand forecasting:

This feature manages the fluctuations in supply and demand. It forecasts the future demands and notifies the managers about the situation.

• Procurement:

It manages and automates your purchases, payment receipts, log expenses in order to create a clear trail of the audit.

• Order managing

Supply chain management essentially depends on order processing. This feature allows users to process and manage orders with great ease.

• Transportation management

Transportation is a major part of the supply chain business. In order to move goods from one place to another management of transport is very necessary yet extremely difficult. So supply chain management software helps to take care of shipments, addresses of every stop, timings of schedules, and other details.

• Easy auditing

This eases the process of inspection of suppliers. It also makes the business transparent.

• Scalable Nature

The system can be used for any kind and size of business

• Fully integrated system

All the solutions smoothly work together in a single interface allowing mobility and flexibility.

Plus points Supply chain management software offers:

• Easily overcomes the uncertainties related to production, supply, and demand

• Helps achieve operational efficiency which later increases profitability

• Provides your business with productivity and throughput

• Saves your business from losing customers and also sales

• Automates your maximum activities

• Centralizes all the information regarding inventory, warehouse, orders or other processes

• Provides real-time visibility

• Prevents false or unauthorized distribution because of instant alerts and notifications also

• Allows you to study sales patterns and also make smart decisions

• Eases transportation and order delivery

Inventory Management software

Inventory management stands for upholding the perfect balance of goods and materials in stock and taking care of related operations. The complex tasks of inventory are taken care of by the Inventory management software. Hence, it introduces you to a specialized system that uses numerous ways to effectively manage your inventory. Inventory management software offers you much more than just product tracking of your inventory.

Ways to take care of your inventory management:

Following are some features offered by the manufacturers of the inventory management software:

• Multi-location inventory tracking

• Barcoding of every product

• Quality control

• optimization and also performance analysis of inventory

• Reporting in Real-time

• transport planning and management

• logistics analytics

• better utilization of inventory capacity

• No delays in production also

• Improved customer satisfaction

• Demand forecasting and sensing

• Resource planning

• product forecasting

• The automated and fast delivery system

• Accurate and fast Response feature

• Tracking of consumables

• The lot and code tracking

Comforts inventory management software brings you:

• Makes business processes easy

• Speeds up the workflow

• Makes inventory operations accurate and precise also

• Requires less time to integrate with the system

• Also lets you react quickly in case of unexpected situations

• Helps make informed decisions

• Fulfils customer needs in the shortest time

• inspecting everything removes the chance of error and also loss

• Maintains high-quality standards also

• Reduces the demand for inventory storage wastage

• Eliminates the faults in delivering process also

Process Automation is a need for every growing business today. As businesses are expanding their reach beyond boundaries, efficient logistic management is the need of the hour. Hence, it is wiser to transform business processes from routine manual operation to automated solutions. 

Inventories have always been the backbone of any business dependent on stocks, trading, supplies, and merchandise. Managing them efficiently has also remained a big challenge for all sizes of companies. Automated procedures can replace manual checking and informing raw materials availability, finished goods availability, work in progress, reorder point, bottleneck enhancement, accounts receivable/payables, reporting, and outsourcing and can enable companies to focus more on other business enhancement measures. 

Let us review the top inventory control software solutions that are ruling the market today. 

TradeGecko:TradeGecko is one of the most powerful inventory management software that helps you take control of your business. It is a cloud-based software that has an interface and offers automated delivery of asset management services. The software can be easily integrated with world-class ecommerce and accounting systems and is fully optimized for iOS, Windows, and Android platforms. 

Orderhive:Orderhive is a multi-channel order, shipping, and inventory management software to automate and streamline your order workflow. It is the number one cloud-based software that easily integrates with all of your relevant data. It tracks the entire product movement from the warehouse to the end-customer. 

Zoho Inventory:Zoho Inventory constitutes an integral part of the Zoho’s advanced productivity suite. It enables businesses to automate their order and inventory management, along with keeping track of delivery for making smarter business decisions. 

NetSuite ERP:Oracle NetSuite is an award-winning inventory software. It comprises more than 18,000 customer base worldwide and assures trusted and secure cloud-based integration. It is best for real-time inventory synchronization and ecommerce automation. It also simplifies purchase management and provides quick reports and analytics. 

Vend:Vend is the best inventory management software for small retail business. It is an easy, efficient, and powerful system that maximizes your profits and aims to make your products work for you. It improves efficiency, offers visibility into your stock, and automates the entire inventory handling procedures. 

Now, have a look at the comparison chart given below to analyze these software solutions in detail. 

Barcode scanners are used to read and translate barcodes from images into readable alphanumeric elements. The scanner matches the corresponding information in the database to the data on the barcode. A barcode is mostly found printed on the products containing information such as manufacturing date, batch number, expiry date, and the price of the product.

QR Codes are the most popular barcodes today and are becoming more popular. These codes read internet-based information, like offers and online payments on the user’s smartphones.

Barcode scanning apps are used to scan almost all types of QR codes. Some of the widely used Barcode and QR code scanners available in the market are listed below:

1.BarCloud

The BarCloud App is an extensive, cloud-based app explicitly designed for asset and inventory management for businesses. This app is compatible with all iOS and Android devices, along with desktop internet browsers. It offers features such as auto-backup, scheduling backups, data security, and is accessible even remotely. 

BarCloud app provides extensive features ranging from inventory management to task management, and it maintains a record of batches and serial numbers. The latest check-in and check-out feature of this app helps in an effortless management of the inventory. Moreover, it can be retrieved when required.

Features:

• Option to input data manually or scan
• Extensive data storage alternatives
• Stock record management equipment
• Export data in Excel and PDF formats
• Optical and graphical analytics device
• Alert of overdue stock, low and expiring inventory

2. Scandit

Scandit is an SDK that provides companies to integrate barcode scanning in their systems with the help of the Barcode Scanner app. This app transforms smartphones and desktops to efficient tools for barcode scanning and can be used by both customers and businesses. 

Scandit provides all the tools to customize and create barcode scanning apps with features of business choice. This app also allows organizations that commission mobile apps for specific requirements, such as inventory management and stock monitoring.

Features:

• Transform phones, tablets, desktops, and other smart devices into barcode scanners for both Android and iOS platforms
• Agile and accurate barcode scans and results
• An array of supported systems
• Compatible with basic devices
• Efficient scanning from different angles

3. QuickMark

QuickMark is a barcode scanner app that enables its users to scan as well as create QR codes. This scanner app is compatible with all the leading platforms and can read a plethora of different layers of barcode and barcode formats. This versatility makes QuickMark one of the most diverse and equipped barcode apps available in the market. This app also minimizes the task of entering data such as serial numbers and inventory information. Users can quickly and seamlessly record data such as prices, dates, product names, batch number, manufacturing details, and more such details with QuickMark.

Features:

• Scans various barcode and QR code formats
• Compatible with different platforms
• Image recording ability for seamless access and data transfer
• Agile and user-friendly capability to transfer scanned data

4. ScanLife

ScanLife is a consumer-centric barcode scanner and inventory management app. It allows consumers to scan barcodes and QR codes on various products to fetch user data. One can manage different types of data, such as ingredients, nutritional facts, manufacturing, and expiration date, with the help of ScanLife. This app can be integrated with larger platforms for businesses that wish to inform and engage consumers by submitting QR codes in their marketing policies. Users across multiple platforms are satisfied with ScanLife’s features and tools.

Features:

• Full online-offline logging and maintains a record of scanned products 
• Email notifications
• Different useful insights of products with the help of QR scanning
• Inherent social media integration and sharing alternatives
• Business platform for better engagement with customers

5. Lynkee Reader

Lynkee Reader is a barcode scanner app that emphasizes on the client rather than product managers or inventory supervisors. This app focuses on scanning both 1D and 2D barcodes, such as Data Matrix barcodes. Lynkee Reader enables its users to read multiple codes, such as vCards. Such codes are meant for the storage of contact information and maintenance of previously scanned barcodes.

Features:

• Offers QR code generator
• Comprehends barcodes from camera, webpage or files
• Studies barcodes, such as vCards, URL, Geolocation, Data Matrix, Flashcode 
• Offers addition and sharing of product reviews
• Provides the alternative to create personal Lynkee Reader profiles

6. UpCode

UpCode is a user-friendly barcode scanner app available on Apple Store and Google Play Store. This app supports 1D, 2D, and barcodes and allows its users to generate their optical barcodes without any additional charges. Users can scan all modern barcode formats from fast access to multiple data such as graphics, music, videos, files, websites, and lots more with the help of this app. UpCode also offers an inbuilt sharing feature that allows users to share their content with others.

Features:

• 1D, 2D, and Bidi barcode scanning
• Supports QR, Data Matrix, 1D Ean 8 & 13 barcodes
• Lets users create optical barcodes
• Provides quick access to media, websites, and several other contents

7. BeeTagg

BeeTagg delivers a plethora of applications, such as a mobile barcode and QR scanner app, a QR code generator app, a contact management app, an app for price verification & manufacturing, and recently introduced, an app to make customized QR codes. BeeTagg is an efficient multifunctional barcode solution that delivers excellent functionality.

Features:

• Multifunctional features
• Acquires substantial information from a single code
• 2D systems encompassing QR Codes, BeeTagg Codes, and Datamatrix
• 1D codes comprising EAN-13 and UPC-A
• Develops contact code to share information
• Compatible with different content types, such as vCard, Texts, SMS, e-mail, event planner

Conclusion

Seven of the best barcode scanning apps mentioned above offers small and large businesses with efficient tools for their scanning and inventory management requirements. These apps make barcode scanning seamless and provide easy access whenever required. The above-enlisted scanning apps ensure effortless manufacturing, wholesale, and retail businesses, along with customers to read, register, and save the necessary data of products. Hence, implementing any of these apps can assist in the management and efficient optimization of the company's inventory operations.

Whenever we hear the word “FREE” our mind goes crazy. BUT! If you are a business owner then you must be pretty well aware of the concept of offering freebies to attract more consumers. However, these freebies are good until it doesn’t affect your business.
  

Likewise, it goes with inventory management software or systems (IMS). Free inventory management tools are also among the top reasons why small businesses fail. Here are some of those reasons why “Free IMS” is not healthy for your small business:       

• NO Automation

Automating all the aspects of the inventory process is one of those features of inventory management software that doesn’t come for free. Although automation is an essential thing that any small or medium-size business requires if they are implementing an inventory management system. Affordable inventory management automation would not only save your time but will also pay off in the long run as your small business grows.

• High risks of Frauds   

Inventory fraud involves the theft of physical inventory items or the misstatement of inventory records on a business's financial statements. To tackle this type of predicament – inventory management system stores product data and keeps track of every transaction occurring, and for further compatibility, you may even have an eye on your products on-the-go via cloud access. And you can’t have all these features in a free IMS.

• Less or No Integrations   

Free inventory tools often come with basic features, and integrations with well-known online marketplaces are just MYTHS! Every IMS charges you some amounts for integrating your inventory with other platforms. Also, in our tech era world, it is recommended that before choosing any SaaS product for your business - make sure it does offer multiple integrations with all the platforms that a business is linked to.

• Manages only a few Orders per month   

During the initial phase of any product-based small business, the numbers of orders are less. But once that business starts scaling you can’t rely on your ‘free’ inventory management system. Because the free IMS manages only limited and fewer numbers of orders. And after you realize that you need to transfer all your product information from that free IMS to other (the more professional one) – it will be too late!

Investing in a comprehensive, multichannel inventory management solution can help eCommerce retailers or product-based business with all aspects of inventory.

Professional IMS provides a fully integrated system for stock listing and management across all outlets, including online marketplaces, warehouses, and brick-and-mortar stores. It also provides prediction (based on forecasting algorithms), stock synchronization and data analytics tools to help streamline your small business and make it more efficient and effective.