Retail Inventory Software – Is your future in the Cloud?

Retail Inventory Software - Is Your Future in the Cloud

The superior benefits of on-demand-solutions coupled with the proliferation of ecommerce and the growing preference for multi-channel retailing are fueling renewed interest in cloud-based retail inventory software. In this article, you will learn why the growing preference for cloud-based retail inventory management software is moving many retailers across the globe to replace their conventional on-premise solutions with on-demand cloud-based solutions. Retail Inventory Software – the big picture Several studies have been published by well-known market research organizations on the global retail inventory management software market. These studies were aimed at breaking down the market into distinct segments to provide a more in-depth view of the market. In the report published by Credence Research, the market was analyzed in terms of the deployment model (on-premise or on-demand), end-user (traditional retailers or off-price retailers) and geography (North America, Europe, Asia Pacific and the rest of the World). The target audience for the report was Industry Investors, Inventory Management Software Solution Providers, Distributors, and End-users. The report provided the target audience with in-depth insights to enable them to make informed strategic decisions related to opportunities in this market space. Based on information from this report and others like it, the target audience now has a better understanding of where the market is going and what it will take to be competitive and successful. This renewed focus on the global retail inventory management software market by key players will ultimately benefit your business by delivering competitive products and services from which to choose. The current state of the market for retail inventory software Up until recently … Read More

Retail Inventory Management Software; Efficiency Expedited

Retail Inventory Management Software Efficiency Expedited

What is inventory management software? Before explaining what retail inventory management systems are, we’ll quickly glance over what inventory is. Inventory is any product that a business sells to make a profit. Naturally, as a business grows the quantity of product (inventory) sold will grow with it. If you don’t have systems/software already in place, your business can quickly outgrow itself and become disorderly. But, if you do have the right systems in place, your business will be ready to handle growth and capitalize on it. A retail inventory management system helps a business organize, track, manage and monitor its inventory. This helps ensure that product isn’t lost, misplaced, miscounted, or unaccounted for. These systems typically come with various products, apps, and processes to help you do this. Why is retail inventory management software important? An inventory management system gives your business control. Business owners must have control over their workflow, inventory cost, and know how to optimize their inventories for their particular business. That’s what these systems do. They allow you to optimize, customize, and enhance your control over your business. These systems record and organize the data a business needs to run efficiently such as inventory location, pending orders, reorder schedules, etc. This information gives the business owner/manager the power to control the business in the best way possible. What are some specific uses for inventory management software in retail? Letting retail inventory management software automate processes benefits a business in many ways. Here are a few that are specifically helpful: Effective re-order schedules lower operation costs by limiting … Read More

Is Inventory Management the key to your bottom line?

Is Inventory Management the key to your bottom line

Is inventory management the key to your bottom line? If you are in the business of selling products, your inventory may be your most important asset. If growing your business is your goal, then you must make inventory management your primary focus. In merchandising, inventory is the backbone of your business, and a healthy inventory management system will keep you on top. Take an in-depth look at how you’re handling your inventory today, if you are ready to take your business to the next level. It can make all the difference as to what shows up on your bottom line. Here are some benefits of building a robust inventory management system for your business: Your cash flow will strengthen Your inventory turnover will instantly improve You will be freed up to experiment with new markets Inventory management and cash flow When you manage your inventory properly, you get access to hidden cash. Cash flow gets stifled when you hold on to the wrong type and amounts of stock. To manage your inventory properly means that you will have the correct amount of inventory to meet your customers’ needs.  Not too little—not too much. And certainly not the wrong kind! This goes to say that you will have the optimal quantity of the right inventory to meet your customers’ needs. This also means you will reduce your expenditure on up-keeping of the wrong inventory. When you maintain the right inventory in the right amount, you will not have to worry about running out of stock. Sometimes when you run short on stock, … Read More

10 Best stock control software tips for inventory management

10 Best stock control software tips for inventory management

10 Best stock control software tips for inventory management Wondering how the big businesses do it? Here are some of the best stock control software tips to help you manage inventory more efficiently. Various experts have defined inventory stock management as the process of coordinating and supervising the supply, storage, recording, and distribution of stock. The aim of which is to maintain adequate stock levels, enough to satisfy demand without any over-supply or loss. By decreasing the amount spent on inventory, the best stock control software helps companies maximize their profits. However, all businesses suffer from some degree of inventory stock management problems. The most common cause of this is “shrinkage,” which is caused by theft and administrative errors. Shrinkage accounts for losses that amount to at least 1.4 percent of all sales per annum. While the best stock control software focuses on cutting down human or administrative errors, it is still important to know how stock levels can affect your company. This is especially true for businesses that are trying to expand their operations. Inventory stock management can affect how much the company makes, as well as customer satisfaction in your products and services. The best stock control software tips Here are ten inventory management tips that can help your company improve its inventory stock management: 1. Check all your stock Every time a supplier delivers new stock, your first step should be confirming that it is exactly what you ordered. This rule applies to both the number and quality of the delivered inventory. This might seem like an … Read More