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11 Nov 2019

How to find good inventory management tools?

1. Understand the need. Answer the question:
What is this tool for? What problem should be solved?
To do this, let's consider the following:

 ▷ Your requirements
Before you meet the seller, you must first understand the need.  Identify the obstacles you face in inventory management and decide what you expect from the tool.  The main task of the management systems is to optimize the processes associated with your inventory. Need an auto-order? A tool for working with assortment and suppliers? Competent management of seasonal goods and promotions? A clear understanding will help you make a choice. 

We, at ABM, believe that a good inventory management tool should be used:

  • to adapt to the specific needs of the retailer;
  • to have comprehensive functionality to work with inventory;
  • to have a flexible analytical module and reporting system to get the necessary data in real-time.
What are the software requirements for the inventory management system?▷ Cost
The cost of software usually depends on your requirements.  Focusing on a comprehensive, multifunctional inventory management system also entails a corresponding investment.

▷ Configuration
 Make sure that the solution provider offers training and first-time customization. This process is very difficult if to carry it out on your own.

 ▷ Ease of use
Usability criterion is most often missed by business owners, although it actually determines the efficiency of software implementation.  If you're looking for a solution that will help you simplify inventory management, choose a solution that's easy to use, not complicated, cumbersome.
▷ Integration
You need to make sure that the system you choose allows you to integrate with other programs.  Inventory management systems are often integrated with systems that perform inventory accounting, accounting, e-commerce and procurement management programs.

▷ Flexibility
Flexibility is another important factor to consider when selecting inventory management software. See if the software you are considering is compatible with mobile devices, how many users can use it, whether it is a network or local solution, etc. Flexibility is critical, especially if you have more than one store or warehouse that is located far apart.

▷ Support
Make sure you get full support when it comes to training, warranty, and assistance. Otherwise, misunderstanding of the system or its use may result in loss of capabilities.

2. Make a list of tools that are most suitable after the initial analysis.
3. Match the requirements to the proposal.
4. Familiarize yourself with the cases of the winners of the list, whether they are in the ratings.

We wish you to make the right choice!

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