Choosing a good inventory management system is not easy, especially if you don’t know your options for picking the inventory system that is right for you. How do you know what to look for in an inventory software, or how to tell the difference between one or the other? The answer does not necessarily lie in the price of the product; just because the inventory management system is more expensive, it doesn’t mean it is the best for you. However, there ARE ways of finding the perfect system for you. Here are a few key traits to look for in a good inventory management system:
An inventory system that works accurately from start to finish with the minimal amount of errors per order line is a good inventory management system for retailers. This ensures that your inventory transactions will be recorded properly, with the smallest amount of mishaps. By checking this key component, you will save yourself damage-control time in the long run.
You can ensure that a good inventory management system is cost-effective by checking whether you will have to make an investment in an on-premise system or subscribe to a cloud-based system. Cloud based inventory systems are much more cost-effective than licensing an on-premise system because the investment and implementation is far cheaper, and often you have more tools at your disposal without worrying about the hardware costs. Cloud inventory management software can also be constantly updated with the latest and greatest tools, giving you a more recent version of the system with no reinstallation hassle.
It’s Integration Ready.
Whether you are a retailer or supplier, a good inventory system should be adaptable to any customer need and be ready to integrate with various shipping platforms, such as UPS, USPS, DHL and FedEx. Every online retailer has a different shipping carrier, so make sure that your inventory management system is flexible enough to integrate with that, as well as your inventory, purchase order and order processing systems.
Finally, the most important thing to look for in a good inventory management system is one that is transparent and provides information on-demand. It should allow you to see what is going on with your inventory in real time. Look for an inventory system that provides real-time reporting, as well as a clear view of the date and time of warehouse and fulfillment activities. This ensures that if there is a problem, you can easily find the source of the issue.
The ultimate purpose of a good inventory management system is to make inventory management worry-free—does your system do that for you? Logiwa’s multi-channel inventory management system checks all these boxes, and more. Our B2B and B2C cloud inventory management system is one of the most advanced systems around. Check out what we can do for you here.
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