Updated: Dec 10, 2021
The importance of modern inventory management software for many types of businesses, such as retail, wholesale and manufacturing, cannot be overstated.
By providing proper planning, real-time inventory tracking, accounting integration, detailed analytics, and prompt service delivery, DEAR inventory management software allows businesses to trim the fat from their operation and move forward with greater efficiency.
The top inventory management software often offers connectivity between your inventory management software, eCommerce system (Shopify) and accounting system (Xero, Quickbooks).
There is a significant reduction in data entry requirements, a smoother order processing flow, and detailed financial reports are available upon request as a result.
A data centralized system is created by integrating Inventory Management Software. With this, real-time monitoring can be easily achieved throughout the entire supply chain with efficient order processing.
Generate better marketing and advertising decisions
As we have found in many of our case studies, our customers are often left in the dark as to which of their products are their best performers when they don’t utilize inventory management software.
With software that is equipped with the proper analytics like DEAR, you can quickly view essential data on product performance to help you make informed decisions on your merchandise, such as promotions, marketing campaigns and inventory levels to maintain.
Monitoring multiple outlets' inventory through cloud tech
Cloud based inventory management can centrally manage inventory across multiple outlets.
With the same data and systems flowing across multiple storefronts, warehouses, and e-commerce stores, the business can finally function as one and be fully effective.
With one dashboard, store owners and employees can manage orders and perform many business actions, regardless of where they are in the world.
Many store owners are in desperate need of time away from their desk from time to time, so this is convenient. Cloud-based inventory management makes inventory management more flexible for both employees and store owners.
Avoid human errors
For many processes, inventory tracking, ordering, etc., you have to use humans in the early stages of your business.
Inaccurate stock levels are often caused by human error. It is easy for the cost of those errors to quickly accumulate.
Through inventory management software, businesses can eliminate visual checks through barcode scanning, and automate reordering, which decreases overstocking and understocking, both of which are costly.
The software helps you keep track of your stock, which is essential for uncovering errors and patterns of loss. In order to resolve any oversupply or undersupply issues, these patterns will have to be investigated.
It is important to select the right inventory software for your business, even if inventory software offers many benefits.