Small businesses do not have the logistics nightmare that most big businesses have, however, it does not mean that it should not have its own inventory control system. A huge part of the success and growth of a business whether a start-up, a small, medium or big is its ability to manage and control its inventory. For every manufacturing or service oriented enterprise, keeping track of its inventory is of prime importance as production and day to day operations rely on raw materials, supplies and other products needed to run the business.
A well-managed inventory will propel the business to improve efficiency and productivity and will also lead to business growth. Inventory control systems provide businesses with a platform that would enable them to track, manage and control their inventory at real-time. With the advent of technology, inventory control systems can now be accessed using your phone and tablet and thus enables you to be always on top of your inventory and offer you more control.
Inventory Management Software
Inventory management is the least desired part of running a business, it is tedious, effortful, inaccurate and complex. Most managers put off updating their inventory as it is often a work that cannot be done by one person alone, and have to suspend a day’s work just to get it done. However, as technology have become more advanced, inventory management software have been developed in order to offer businesses a more efficient way of managing and controlling their inventory.
The software allow the automation of the inventory control system with the use of new technology like QR codes and the automatic scanning of barcodes and updating of the inventory on a preset schedule or when you want it to do so. Moreover, since the software now runs on multiple devices, you can access your inventory whenever you need to.
However, inventory control systems can be complicated and take a lot of effort to coordinate with other aspects of the business, but it can be set up with a little help from the developers. In the past, an inventory management system had to run from its own framework and you need to run it as a separate system within your business, and was quite expensive and cumbersome to work with.
Now that it can be run on a more lightweight system that can be integrated seamlessly with your existing network and does not need any new equipment. It cost less, work well, intuitive and improves productivity, thus, information management software are now within reach and necessary.
Inventory Control System
An inventory control system will assist the business owner manage and control his or her inventory. One needs to manage the inventory as it is usually where the money of the business is found, for every product or material that the business has, is money. If too much capital is tied up in the inventory, it would be difficult to see profits as it can only be realized once there is a sale or a purchase from the company.
On the other hand, if the inventory is low, then it would also lead to the shutdown or disruption of the day to day operation and would also mean losses for the business. Inventory control on the other hand would refer to controlling what goes in and what goes out in the inventory, it also means setting up alerts on when to order or when limits have been reached. One can access the inventory anytime and be able to see the movement of the materials and supplies and these can also be linked with sales and logistics making your business work perfectly.
Visual Inventory System
A new development in inventory control system is the addition of images in the system, which would enable the owner to see what is inside the inventory. The addition of images would provide updated information and details about the item and anyone who views it will actually be able to see what the item actually is, and can prevent errors and mistakes that could be costly. When entering the item into the inventory system, you can take pictures of the item and any other detail that you think is important for the item like how many there are in stock or when it should be replenished.
Admittedly people are more visual nowadays, and looking through a series of numbers can be quite confusing, like if you see 114 instead of the real 141 but a picture can be more engaging than just numbers. You can upload as many pictures of the item you want, it is fully customizable and can work with any business and size, you can also track the items across multiple devices and wherever you may be.
Inventory Control Tracking
Tracking inventory used to be a headache, for example trying to ascertain which item was used, where it was used and any profits that might be had from its use, or losses. Moreover, tracking is not an easy task, it has to be accurate, updated regularly and accessed by more than one person in the company. Also, tracking inventory is important not just for the business owner but also other aspects of the business, like purchasing, productions, sales and delivery. These would mean that many people need access to the inventory system, and it should be accessible across desktop computers, smart phones and tablets.
With the use of inventory control system, tracking can be done in a breeze, you just need to set up quantity or date alerts, and if a supply falls short, and then it will send alerts to the purchasing department. If one item leaves the warehouse, the inventory system will automatically log it out, and will log it in to where it will be used either in production or in marketing. If you need to make changes, you just get into the system, check whatever you need to check and leave and the inventory system will do the work for you.
Easy to Learn
The problem with using technology is that it can be quite daunting and the learning curve can be long. However, but due to technology also, inventory control systems have become easier to use and you can even set it up yourself without any need for technical assistance from the developer. You don’t even need any manual or guide book or work with complex jargon that can be confusing. Thus, using an inventory control systems can now be as easy as pie and yet so useful to your business.
An excellent inventory system is also intuitive and it will provide you with options based on what you consistently check and monitor. It also allows you to give access to other people like your staff and customers if needed, it also works with multiple file types and you can import and export files to and from the system to your own or others computer. Moreover, the system is synced and saved in the cloud so you would never lose any report or data even if the computers are destroyed.
You can have the system set-up, running and controlled within the hour. It is simple enough for anyone to handle as long as you know basic computer commands which everyone probably has learned in the past. But if you get stumped, one way or the other, then you can actually call the developer for assistance and they would happily help you.
Flexible Inventory Control System
The best inventory control system is one that is flexible and can work with all the inventory needs of the business at any size and type of industry from medical, IT, equipment and construction inventory. Its flexibility allows you to fully customize the system, and you can have full access without any limit to the number of items you enter into the system. But if you are just curious and wants to know how the system works, then you can opt for a free plan with a limit of 100 items.
This could especially be helpful if you have a start-up company and do not need the full access software. There are also other plans to choose from which is billed yearly and in the long run is cheaper than having to do inventory control manually. More and more businesses have used the inventory control software as it has proven to be the most important resource or tool that you can grow your business with.
Whatever business you may have, inventory management, control and tracking are of primary importance to your success and growth. It used to be such a difficult process and for most small businesses do not give attention to it. But with the development of a flexible, simple and robust inventory control system, there is now no question as to whether it is needed or not. Moreover, you can start with a free access and as your business grows, then you can also choose to upgrade your subscription. The fees are one-time a year and quite reasonably priced.
Salman is a prolific environmental writer, and has authored more than 500 articles in reputed journals, magazines and websites. He is proactively engaged in creating mass awareness on renewable energy, waste management, sustainability and conservation all over the world.
Salman can be reached on salman@cleantechloops.com
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