The Basics

Stock management systems, also known as inventory management software, do exactly what their name suggests. They provide real-time information on the resources and data available to an organization, thereby dealing with the supply and demand needs of the company.

That’s not all they do, however. Like all other modern software, they are “smart”. They closely monitor your inventory and check patterns, evaluating your performance and resource management through dedicated insight reports. This software can be applied anywhere, but it is the manufacturers that can especially benefit from it.

The Functioning

  • Usually, stock management software goes hand-in-hand with similar software like ERP, to manage a company’s logistics.
  • Barcodes are this software’s bread and butter. By scanning individual barcodes, taking stock of products is a breeze.
  • Most stock management software can also create barcodes, to include new components to your registry.
  • The software will update your registry in real-time, showing a deficit in any commodities and keeping your stock in optimum supply.
  • By integrating with your ERP and other associated software, it can also maintain stocks and sort by vendor, and other parameters.

The Benefits

  • It makes importing goods much more seamless, whether in bulk or individually.
  • It makes a great addition to your software such as ERP and CRM for more efficient management.
  • It can integrate purchase orders directly into the system, thereby updating the registry in real-time.
  • Some stock management software also let you access the data from mobile, for on-the-go information.

  • It keeps your manufacturing process smooth by staying on top of any requirements in material.
  • Since it is entirely digital, there is no error factor involved, as the software updates data in real-time.
  • There is no possibility of your data being tampered with, as the stock management software keeps it secured and safe.