An essential ingredient for business success is the ability to track inventory levels, orders, sales and deliveries. This will ensure that you always have the products your clients or customers need, where and when they need them. Whilst it is possible to track your inventory manually, this is a labour intensive and time-consuming process. Inventory management software, such as the tool offered by Woocommerce inventory management, enables you to undertake efficient inventory management for different types of stock and even allows for custom orders. Inventory management software can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents.
The Benefits of Inventory Management
Katana, the self-service software company aimed at small and medium-sized business, has integrated with WooCommerce to provide business owners with end-to-end stock or inventory management. It is a simple plug in that you can use in real-time to assess the available amount and whereabouts of your product stock, raw materials, or any other vital information. The tool uses sales and production orders to deliver these updates, ensuring that business know what they have in stock, where it is held, and when they need to order more with ease. The benefits of inventory management software include:
• Total inventory control. You can track your inventory across multiple locations and avoid not having stock where you need it most.
• Livestock overviews. No need to wait for the next stock take, you can get a complete overview of the goods you hold in stock whenever you need.
• Automate the reordering process. Save the man time involved in reordering stock by using your software to signal when you need to create purchase orders at low stock thresholds.
• Financial surety. When using inventory management software from Katana, you can take advantage of their moving average cost feature allowing you to order at the optimum moment to save money, and always know what you’re spending.
• Work flexibly. Whether you’re making custom items or uniform items, inventory management software is able to manage your stock and supply levels in both formats.
How Does Inventory Management Software Work?
If you’ve established that inventory management software would be beneficial for your business, you may be wondering how it works. Inventory management software works by tracking the flow of products from supplier at every stage of the production process until it reaches the customer. In the warehouse, inventory management tracks stock receipt, picking, packing and shipping.
You can use inventory management and control software for multiple sales channels if you use the right integrations and automation software in conjunction. Inventory management software works to help you improve overall business efficiency and reduce human error in your inventory management processes. The whole process is automated and in real time, meaning that you are no longer reliant on other sources of support for your stock tracking process. Not only does Katana’s software track inventory and update stock store, but you can also connect to a broad range of services to bring unite all your business software. Katana integrates with a range of e-commerce platforms and marketplaces, as well as accounting, automation, reporting, and shipping solutions.
Conclusion
There are many economical inventory management tools on the market, but you should look at functionality as well as price. The right inventory management software will seamlessly connect sales channels and fulfillment sources within one system, making the whole process effortless and less prone to human error than ever before. If you have inventory to manage, then there is no better way to do so than with inventory management software.
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