Whether you run a small brick-and-mortar store, an e-commerce business, or a large corporation, you NEED an effective way to monitor your stock levels.
A lack of inventory management can lead to negative repercussions for your business, such as a surplus of a certain product, a shortage of another, and absolutely no idea of what is available in your warehouse.
Many businesses find difficulty in managing their stock levels manually, and understandable so. But the good news is that there are so many inventory management solutions available in the market that offer automation and an electronic means of managing products and units.
Inventory Management System Explained for Beginners
Inventory management software is a software system for tracking inventory levels, orders, sales, and deliveries. Simply put, it is a tool that allows you to track goods across your business’s supply chain.
From delivery to shipping and transfers between different locations, an effective IMS software will monitor your stock at all times. It also makes it easy to monitor stock levels, generate documents such as purchase orders and invoices, and analyze data.
The best part about a stock management solution is that it provides transparency. You will be able to see how many units you have available at all times and can even track each unit individually.
What Does an Inventory Management System Do?
There are hundreds of software solution providers available in the market, and each of them differs based on its features and capabilities. But in the simplest form, an ERP software should be able to perform the following:
- Catalogue tracking and adjustment in real-time
- Current stock levels monitoring
- Alerting when certain items reach the re-order level
- Generating purchase orders and invoices
- Barcode scanning and point of sale software
- Shipping tracking and handling capability
- Returns recording and handling
- Serialized inventory management solution for organizing products
- Product categorization and tags
- Reporting and analysis tools
Apart from the basic functionalities of an ERP management software, you may be able to find additional features to effectively handle your stocks.
For example, Inventory Sol offers a host of unique features such as stock optimization, instant invoicing, and in-house transfers.
At the end of the day, an ERP solution will save time, money, and make the entire process of managing your in-house products much easier.
How to Find the Best Inventory Management Software in Dubai
Whether you are a new startup, family-run business, SME, or large organization, you can benefit from an ERP system in UAE. It will save time, cut costs, and minimize errors or discrepancies in your stock records.
Before you set up any software for your business, you must find the best one to suit your unique business needs. With an inventory management solution, this involves identifying the modules and features it offers and determining how they can be utilized by your business.
By far, Inventory Sol is one of the best inventory management software in Dubai. This is because it provides an all-in-one stock management solution to businesses of all sizes. From its state-of-the-art POS system to its automatic product unit level adjustments, and instant invoicing functionality, Inventory Sol makes it super easy to track and manage stock levels.