Stock management software: Improves operational efficiency

Finding the best stock management software

If you don't already have these tools to control the flow of goods in your company, hurry to do so. Remember that your competitors in most cases already have this in place and you should not be stuck with old methods. Today, technology provides us with a great opportunity to fine-tune work processes and seek higher service quality.

Analysing the right stock management software is not easy, as each company has its own requirements. Naturally, there will be companies that will seek free service, but this will be at the cost of reduced possibilities. Almost all of the most useful programmes with the most functionalities have to be paid for in order to be able to use them fully. However, there are free versions of these that will be suitable to try out first and if that is enough, continue with them.

But to be honest, the best and most appropriate features will be those included in the paid version. We recommend that you do an intensive study to make sure that you will have the solution that best suits your business. Talk to the sales people, have them give you a presentation and give you access to a demo to try it out before you make up your mind.

The functionalities of stock management software will bring clear benefits, let's take a look at them.

Main functions of stock management software

• It provides for the definition of a product catalogue hierarchised by families. It will therefore be further organised by different parameters such as manufacturer, origin, use, etc.

• Set production items, purchase items and out-of-stock items while managing the default information for each item, such as supplier, measure and tax status.

• Management software also allows you to create measure units for product purchase and sales.

• Assign bar codes in different formats such as EAN8, EAN13, CODE 128, CODE 39. In this way, a computerised control of incoming and outgoing goods is carried out by means of a scanner, as well as a quick count with this technology.

• Efficient and complete traceability of items with the use of batches and using parameters such as codes, dates, sizes, colours, etc.

• Optimises stock counting by identifying when each item should be counted, the importance of having reports and alerts generated to ensure that items are counted at the required frequency. This will allow you to control both the expiry date and the stock when it falls below defined minimums.

• The digitisation of processes also makes it possible to define complete product sheets with all the necessary details. It will be very interesting to establish such things as different product images, or documentation annexes in .pdf format.

• Rate amendments are automatic via external files (databases) such as Excel sheets. You will only need to receive the direct information from the supplier and upload it to our system. Fast, simple and, above all, potential mistakes are avoided.

• The flow and status of product reserves is another issue that is controlled by stock management software. Each status will be reflected in real time: Available, reserved, pending, etc. Everything updated on the spot.

• Timely monitoring of purchases, orders, stock to be received, etc.

• Exact location of the product in the factory or warehouse on a floor plan. Consequently, the article is fully localised.

• Purchasing and ordering using the technology of this stock management software is the most efficient and secure way to operate.

Benefits of stock management software

Building customer loyalty

By improving the service and being faster as well as effective, the company's image will be strengthened. A stock that is always ready to do business will always generate confidence in your customers. After all, loyalty is about being true professionals and providing optimal solutions.

Effectiveness in stock control

Correct planning will lead to cost reduction and avoidance of obsolete products in circulation. Efficient purchasing will lead to stock turns and a constant improvement in the flow of goods. In addition, the generation of reports and statistics will make the processes more and more refined, in order to achieve the highest profitability.

Exact situation of the warehouse in real time

Since it is possible to know the movements of goods in real time, we will have an accurate "picture" of the situation. We will be able to locate products that are stuck, monitor product quality and thus be able to draw up business strategies.

Joint work of several warehouses

A comprehensive stock management software must be able to work with several warehouses simultaneously. Coordinating outputs, receipt and location of goods among them will result in greater efficiency and control. This is the best way to have the business fully monitored and managed in real time.

Conclusions

The correct maintenance of the stock and its constant updating is the best solution to reduce costs and seek greater profitability. For this purpose, the use of stock management software will allow the prediction of real demand levels and, therefore, the allocation of space. This software application will be the key to monitoring incoming and outgoing goods.
That said, the choice of stock management software will be extremely important, so it is important to bear in mind that you will need to invest in it. It is clear that a quality service has a certain cost, but it is important to take into account the advantages it offers.

We hope you found this article on stock management software useful. SEIDOR offers software solutions for stock management, such as SAP BUSINESS ONE to obtain greater efficiency gains in operations, focused on SMEs. Among other features, SAP BUSINESS ONE allows you to manage serial numbers, price lists, inventories and generate picking lists for open orders.

In addition, they also offer the possibility, within stock control solutions for warehouse management with radiofrequency, of using devices PDA type mobile phones or similar ones for receiving tickets, picking up orders, monitoring inventory... with real-time data updates.

We customize our customers' needs, seeking the greatest satisfaction. Contact us and we will advise you to give you the solution that best suits your business.