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Blog post

5 Key Advantages of Inventory Management Software

07 Mar, 2019 | Business Tips

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The benefits and advantages of modern inventory management software for many types of retail, wholesale or manufacturing businesses cannot be stated enough.

DEAR inventory management software allows for proper planning, real time inventory tracking, accounting integration, detailed analytics, and prompt service delivery to help businesses trim the fat off their operation and start moving with purpose.

There are many other advantages of inventory management software for business owners as discussed below.

Integration of back end systems with accounting

Modern inventory management software such as DEAR allows for connectivity between all back-end systems including your inventory software, ecommerce system, (Shopify) and accounting systems (Xero, Quickbooks).

The result is minimal data entry requirements, a much smoother order processing flow, and detailed financials on demand.

Integration through inventory management software creates a centralized system for the processing of all inventory related data. This allows for easy real-time monitoring across the entire supply chain with efficient order processing.

Improves merchandising and marketing decisions

As we have found in many of our case studies, our customers are often left in the dark as to which of their products are their best performers when they don’t utilize inventory management software.

With software that is equipped with the proper analytics like DEAR, you can quickly view essential data on product performance to help you make informed decisions on your merchandise, such as promotions, marketing campaigns and inventory levels to maintain.

Cloud based inventory tracking across multiple outlets

The centralized management of inventory from different outlets is made possible through cloud based inventory management.

Storefronts at multiple locations, warehouses, and e-commerce stores can all share the same data and systems, finally uniting the business as one and allowing it to function on all cylinders.

Store owners and employees can track orders and fulfill many business obligations and from a single dashboard regardless of where they are in the world.

This is often convenient for store owners who are desperate to get out of the office from time to time. Both employees and store owners can perform many work requirements from home using cloud based inventory management, allowing for a degree of flexibility.

Eliminate human errors

Early in your business you have to rely on humans for many processes and for inventory tracking, ordering, etc.

However, many stock level inaccuracies occur due to human error. And, the cost of those errors can quickly begin to add up.

Inventory management software automates key areas such as eliminating the need for visual checks through barcode scanning, and automating reordering, which decreases over and under-stocking, both of which are costly for businesses.

Inventory software gives a clear flow of your stock, which also helps in identifying inaccuracies and patterns of loss. These patterns can then be investigated to get to the bottom of any over or undersupply related issues.

Despite the many benefits of inventory software, it’s important to choose the right solution for your business with the proper features.

DEAR offers a no risk or obligation 14-day trial to see the power of our software to transform your business. Try DEAR today and enter a new era of growth, efficiency and reliability in your business.

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