About Inventory Software
Welcome to the Inventory Software portal. Inventory, or warehouse management software, (WMS) is often more than a just a warehouse management program. Many applications also include sales, invoicing, purchase orders, accounts payable/receivable, report writing, job tracking, supply chain management, scheduling and other ERP/MRP software applications. The purpose of Inventory Software is to provide a way to track inventory levels, track product locations, track suppliers, orders and more. Inventory software applications can be integrated with bar code reading systems for more efficient tracking of goods and even RFID (radio frequency identification) for high tech tracking and other applications.
Web based inventory management software offers traceability or genealogy capability. See Inventory and warehouse management for more applications.
Benefits of Inventory Software
Faster time to market Faster order fulfillment More satisfied customers Reduced inventory carrying costs More efficient warehouse operations Reduced production down-time Automatic ordering from suppliers when pre-set inventory level is reachedInventory Software Innovations
RFID technology will eventually have a huge impact on Inventory software, due to the mountains of data it can generate about the location of pallets, cases, cartons, totes and individual products in the supply chain. RFID will allow for a high level of logistics processes automation and highly increased operational accuracy allowing manufacturers to increase efficiency, reduce operating costs and minimize errors caused by the human factor.Best Practices Inventory Management
Best Practices allow an organization to utilize their resources to the fullest extent. But generic practices won’t improve every organization. In most cases, Best Practices for inventory management require a system that works for the way a particular company organizes its inventory. For example, some companies need an inventory system that will incorporate location based tracking of item, or even a FIFO system, while others require batch or component tracking in case of a recall.
For simple procurement companies, a system encorporating one-size-fits-all Best Pratices may be the way to go. However, most businesses are more complex, thus they need a system designed specifically for their situation. Custom software is one approach, but it is expensive and development is time consuming. An Out-of-the-Box/generic system forces a company to use industry wide “Best Practices”, eliminating their unique practices which gave them an edge over the competition. There is solution to these problems -- a tailored system.
A tailored system is flexible enough to encorporate functionality uniquely necessary for a company while concurrently offering Best Practices to areas of the business that are universal. Flexible software allows one to sustain the procedures that work well while modifying the practices that require optimization. By molding the software around specific needs, desired functionality is achieved without needing a overly complicated system.
Just-In-Time Inventory Software
Monitoring inventory is important for any company. But as such a system should provide more than just simple count of inventory. Some cost savings are incurred by reducing or eliminating physical counts, but sophisticated Inventory solutions can save companies thousands of dollars. With an Inventory system based around your goals, you can ensure a user friendly system that will provide cost-benefit.
Just-In-Time (JIT) Inventory reviews historic trends to estimate the necessary amounts of required raw materials that you will need. This type of system is implemented to reduce depreciation costs and storage space. Only tailored software offers reliable JIT functionality.
Alert inventory managers by e-mail, page, or otherwise through data push when supplies are low to avoid production gaps. EDI (Electronic Data Interface) eliminates data entry errors and unnecessary paperwork. Increase efficiency by refining your Inventory management with a top of the line Inventory system. The possibilities are endless, but the interface will be intuitive if you choose software tailored to your specifications.
Best Practice Inventory Management
Managing inventory in the supply chain is critical to ensure high customer service levels, as well as reduce the amount of unnecessary inventory sitting in the warehouse. There are several best practices which are currently used to reduce inventory levels and logistics costs.
In general, these practices provide inventory users with the capability to order supplies as they are needed and then delivering those items directly to the customer within hours after the order is placed ("just-in-time"). Ordering supplies only as they are needed, combined with quick logistics response times, enable companies to reduce or eliminate inventory levels, buy only the items that are currently needed, reduce or eliminate the possibility of inventory spoilage or obsolescence, and reduce overall supply system costs.
What are these best practices?
1) The prime vendor. A single vendor, or prime vendor buys inventory from a variety of suppliers and stores the inventory in it's warehouse. This concept is characterized by a close partnership between the prime vendor and customer.
2) The local distribution center. One or more suppliers locate a distribution center within close proximity to their customers. From this location, the supplier delivers items to the customer within 24 hours or less of receiving an order. The supplier is linked electronically with the customer via software (SRM, or supplier relationship management).
3) The integrated supplier. An integrated supplier assumes almost total inventory management responsibilities for a customer. This is the most aggressive form of a supplier partnership where a supplier representative works in the customer’s facility, ordering supplies as they are needed, and replenishing storage locations. Inventory is stored by the supplier in the supplier’s warehouse until ordered and then delivered on a “just-in-time” basis.
Inventory Management Through Best Practices
Best Practices Inventory Management through a high quality software system is one way you can streamline your organization’s inventory maintenance. The idea of “best practices” comes from the need to optimize a company’s operations. Consultants and experts study an industry’s most successful practices in order to implement these practices at companies that need procedural improvements.
Although generic software with the right structure can help to streamline your inventory procedures, the best software combines best practices with a tailorable interface. With a project manager working on your behalf, a flexible software system can offer more capabilities than an out-of-the-box option.
Leverage the best practices of your industry with the agility of a configurable solution and the result is true innovation that offers an enormous return on your investment. As the industry changes, so can your inventory system. If you have a unique setup, the software adapts to your requirements. Plus a flexible software is user-friendly since it only includes the functionality that you desire.
Advanced Inventory Systems
Inventory Systems are necessary for a company carrying and/or transferring a moderate quantity of supplies. But as such a system should provide more than just simple count of inventory. Sophisticated Inventory Solutions can save companies thousands of dollars.
In addition to saving time and money by reducing or eliminating physical counts, advanced Inventory Software can create purchase requisitions when supplies are low. Data push allows cutting edge software to e-mail, page, or otherwise alert key individuals when it is time to purchase goods. EDI (Electronic Data Interface) can eliminate the need for purchasing paperwork.
JIT (Just-In-Time) Inventory can analyse past market trends to accurately predict amounts of required supplies. This can save storage space and depreciation costs. Look for configurable software for this advanced functionality.
 Manufacturing ERP |
ShopFloorReporting.com |
|
Thin Client ERP |
Wireless ERP |
|
Plant Schedule |
IBM |
| ERP | Industrial Control |
| Industrial | Inventory Control |
| Inventory | Lean Manufacturing |
| Manufacturing | MES |