Inventory management system software is essential to make a business successful as it can manage inventory properly. Inventory management lets you know what you have in your warehouse and where your inventory is located.
Unless it gets integrated with the system of your back-office, an inventory management system alone cannot effectively optimize your warehouse, nor can it ensure that the value of the inventory assets in your financial statements matches the value – at least physically – in stock not without manuals, difficult interventions, and reconciliation. You can even surf the web to check the features of integrated inventory management systems.
Inventory optimization helps maintain customer satisfaction and avoid losses. Storage and handling costs are associated with each inventory. So, the accumulation of excess inventory causes unsold goods to be stored on the shelves.
This is a separate expense, and even more so if the item is damaged or out of date. On the other hand, a shortage of goods leads to missed sales opportunities and frustrated customers.
Integrated accounting and inventory management software solutions can improve data analysis accuracy and provide valuable information such as sales forecasts and cash flow. Real-time visibility solutions help companies plan inventory requests more accurately.
Most of the business costs are spent on labor. By integrating inventory management and accounting software, the possibility of unnecessarily time-consuming manual filing of interconnected components is reduced – saving time and money.