8 key features to look for in automated inventory software
The benefits of automated inventory systems are numerous. But before you start deleting all your Excel spreadsheets, let’s see some of the more important features you should look out for when choosing the best inventory management automation software for your company.
1. Track multiple warehouses
If you have multiple warehouses to manage, then you need software that can keep track of them all in one place. This way, you can see at a glance which warehouse has the products you need and can make informed decisions about where to source them from.
2. Scan barcodes
If you want to speed up the inventory management process, thenbarcode scanners are a must. This means you can just scan the items as they come into the warehouse, and your enterprise inventory management softwarewill update the stock levels automatically.
3. Set reorder points
As we mentioned before,setting reorder points is a great way to avoid stockouts. Look for software that allows you to set notifications for each item so you can restock before you run out.
4. Seamlessly integrate with other apps
Most likely, you’re already using certain apps to run your business. These may include:
- Accounting tools
- E-commerce platforms
- CRM software
- Shipping providers
It’s important to choose inventory management software that can integrate with these.
Look for automation software that helps you manage all business operations. Implementing process automation helps you integrate your favorite tools to centralize your entire business into one platform.
5. Forecast your inventory
Some inventory management software comes with inventory planning and forecasting features. This can greatly streamline your demand planning while making it a lot more accurate as it’s based on precise sales data.
6. Report and analyze
Reporting is often overlooked, but data analytics is essential for effective inventory management. Look for a platform that offers proper reporting tools that give you invaluable insights regarding your:
- Sales
- Cost
- Inventory
- Production operations
7. Allow access for multiple users
Depending on the size of your business, you may need software that supports multiple users. Even if this is something you currently don’t need, it may become an important feature as your business grows. It should also include user permission, allowing you to limit access if not necessary for work.
8. Synchronize across multiple sales channels
Apoint of sale (POS) systemallows you to track inventory at physical locations and connect with data from online sales. If you have a multichannel sales strategy, then you need POS systems that can keep track of them all. This way, you can avoid selling the same product twice and avoid stockouts.
As you can see, this list can get pretty long, but it’s important to have a clear idea of your requirements before you start looking for the right platform. Once you know what features you need, you can narrow down your options and find the perfect solution for your business.
