Inventory Development Software

By Author: Tasha Thompson
Total Articles: 4
Comment this article

Inventory is one of the most important indicators that reflect the effectiveness of your business and managing it is a huge and complex task. For this you need plenty of resources, in terms of human resource and adequate infrastructure for accommodating and maintaining them. Inventory Development Software could be a perfect substitute for all these requirements. It manages your entire supply chain and reduces the cost incurred on inventory management; subsequently increasing the level of efficiency and control over your business by providing you with exact details of the inventory you have in store, inventory that you have ordered and inventory you have sold, thus measuring all the primary parameters for effectiveness of your business.

A professional software development company creates a specific software application for developing and maintaining the inventory, which could replace the whole team of employees and a huge pile of papers. Using such software application you could enter any item into the inventory record system, sell, write off, and move them between your warehouses and branches. The transfer of each inventory ...
... item will be fixed automatically at the time of registering it in a document. Professional PHP, Java, .Net software developers can create and implement a software application for maintaining your inventory items, that will allow you to analyze the company’s activities in general and by separate commodity items and warehouses.

A software development company can be your best business partner/associate at this point by offering you an apposite and effective software solution for handling your diverse key processes and segments efficiently. Goods Order Inventory System is one such software suite that has already proved its metal by rendering its beneficial services to many hundreds of clients worldwide. Precise inventory management by synchronizing varied types of business activities and inventory status can now be achieved with the use of a single software application.

Effective Inventory Development Software should include the following features:

• Maintain an item master file for the company that will keeps all pertinent information on each item to be controlled.
• Process the inventory within the company including the material issues, receipts, shipments, transfers, returns, rejections, inspections, and scrap.
• Facilitate purchasing through order point calculation based on the prior use of items. Automatic computation of these numbers greatly helps in inventory control.
• Provide adequate online inquiry and management reporting capabilities. The information regarding online inquiry into the stock status by different locations, inventory value by different location and descriptive information for each item should be obtainable on the screen from different computer terminal locations.
• The system should also be capable of generating numerous operational and management reports. These might include:

 Stock status report
 Inventory movement report
 Recommended purchases report
 Parts history report

A computerized inventory control system through Inventory Management/Development Software could prove to be a big asset for any company, whether large, medium, or small. These systems help the management in inventory control and cut significant costs which have a striking impact on the financial bottom line of the company.

Benefits of effective Inventory Development Software:

• Facilitates Customized inventory monitoring and tracking
• Process management such as purchase order placements, usage tracking, inventory checking, etc. are also improvised
• Periodic stock matching become easy
• Serial number assignment and Work order assignment makes the process very efficient
• Customized report generation is possible
• Labor and indirect costs are calculate and controlled with ease