Stock Inventory Management Application
An inventory management system is the process by which the system tracks the goods of the company through in the entire supply chain, from raw material inward purchase to finished production to end sales deliveries.
Inventory management enables control of manufacturing to supply operations. In Simple words it gives the stakeholders real time data what is in the warehouse, and what is deliverable , what is shortfall and what is undersupply.
Why is inventory management software critical need for any business?
A software application that automates micro details of inventory and warehouse data management, streamlining the reporting to effectively track inventory, manage record and update business accounts.
What is there in my warehouse? How much is there in the ware house? What should be the quantum in the warehouse? Is there any shortfall between the demand and supply production? How much is the wastage happening? What are the critical inventory expiry happening? These are few of the questions that creates nightmares to all the store managers and business owners.
Since inventory management software is the heart of any business operations it’s imperative that there should be an automated system in place to record and display a real-time dashboard solution that is reliable, effective and has the features that enables the flow of goods in and out of warehouse inventory through designated channels.
What are the benefits of using inventory management software from Himalayan IT?
Inventory management software can streamline the smooth business process through inventory control, inward tracking and outward movement of goods. For a production house manufacturer or a large warehouse gives a complete view of existing inventory across multiple locations.
Inventory tracking
Inventory management software integrates with other business data applications to improve inventory control by tracking inventory in real time, reflecting the actual location of inventory and its movement in the ecosystem. This eliminates human error in the process, something for which a manual, excel spreadsheet is unable to reflect actual data real time.
Inventory management software, at its best, not only offers you a clear record of your complete inventory, it can also help to reflect actual records to ensure that raw materials are in stack, there is enough finished goods to meet the supply chain and warehouse stock across the territories. Moreover, the dashboard can show product manufacturing date and expiry date of the principle of first move in first move out is applied.
Automated Re-ordering Process control
When the inventory level is running low, it’s important that the system should generate an alert with the minimum base quantity pre-defined in the system so that there is a margin of window timeline to place fresh orders for raw materials. Likewise, when the supply chain stock is running low with pre-defined stock levels the system should notify the production plant to increase the production levels.
The systems also help you compare historical data, time lapses and generate a dashboard report for future escalations. The systems input data and defined levels can be updated as per historical events and circumstances.
Why should you choose Himalayan IT as your preferred Vendor to develop inventory management software?
While choosing an organisation to build your inventory management software, it’s important that your Vendor has first-hand experience of Industrial Business Operations and the unique circumstances of how your business operates. Himalayan IT Has got the depth and knowledge as a first-hand experience working with large corporations, production houses and has an expert team of developers and scientific board of members drawn from various fields to understand and do the requirement gathering.
Himalayan IT Solutions offers Cloud based inventory management software. Today, everything is on the cloud. Cloud-based software is free of many large input running costs like large data centre or servers skilled IT maintenance team, or cyber threat or cybersecurity protocol’s.
The components of a robust inventory management are like Raw Materials management system, Work-In-Process, Scheduled Maintenance, Plant Repair and Operations and Finished Goods stock which requires a skilled IT team and expert planners to architect the flow diagram and design, scalable and robust data structure and easy to upgrade.