Inventory management software

Inventory control or Inventory management software is a software package which allows the user(s) to track inventory levels across all product lines, place orders with suppliers, update product information, and in some cases provide the ability or the interface to communicate with other software packages such as a point of sales (POS) system, MRP, ERP and production management software.

There are many inventory management software packages available and each has its own sets of strengths and weaknesses. Some are standalone inventory management packages that are able to receipt in supply orders, update inventory holdings when items are sold or used within the supply chain or sales department. Others can be more complex and able to calculate safety stock levels for different items and can incorporate inventory models such as the EOQ model.

It is impossible to recommend a particular software package(s) for any business or operation. What is sensible to do in the early stages of searching and purchasing of inventory management software is to establish the requirements and method of business operation which will be used to control production, quality management, inventory and sales before deciding which software to buy.

       More on inventory management