What An Inventory Management App May Do For You?

Posted by Sandeep Srivastava on April 12th, 2018

Inventory management is about knowing what you have in inventory and where all the stock is located.  But unless the inventory management mobile app is integrated with ERP, you may not be able to realize the full potential. To optimize inventory management, leading companies are integrating their software directly with back-office and accounting systems.  With such integration, you have a competitive edge that comes with the ability to plan effectively. Which system will be best for you depends on specific needs and also the plans for future growth. For maximum benefits, the integrated solution should be in real time, it should be flexible, transparent to the users, and it should be reconcilable and scalable as well.

The inventory management software, when it is integrated with your back-office systems, offers unique advantages:

• It may optimize inventory to meet availability and ROI goals
• It may provide inventory stability to supply chain partners
• You may also remain updated at all times when you provide inventory accurately in financial reports.

Optimization of Inventory

When you have the right mix and right amount of inventory on hand, it is of utmost importance to both customer and investor satisfaction. Most customers want the fresh product on demand. And investors may not want that that their inventory is tied to maintaining excess inventory. Balancing the objectives is tricky, and extra inventory wastes money beyond the initial material.

Enhanced Visibility of Supply Chain

Numerous companies are making use of supply chain partners to manage the inventory levels and also the customer shipments. To do this effectively, the inventory system should be integrated not only with company’s back-office operations but also with suppliers and third-party logistics. When you go for the inventory management mobile app, you may be able to find out which products your customers need and when readily.

True Reports

When you are preparing financial reports, it is crucial that you provide correct information to all the related parties. Inventory value may be significant portion your stated assets. No matter which way you may manage your inventory, the recorded value in your books must match the physical value in the warehouse.

In The End

While inventory management app may be useful for you in many ways, just make sure that you use them in right way.