In the modern-day factory, manufacturing inventory software is a staple to ensure smooth operations. With the right software, you’ll be able to pull up inventory numbers in an instant, saving you time searching for product and money spent over-ordering extras. But where should you even start when it comes to finding the perfect manufacturing inventory software? With so many options on the market, it can be easy to get overwhelmed. When you’re starting your search, make sure that you’re looking out for these key factors.
Superior Inventory Control
We know, this probably seems like a given. Your manufacturing inventory software should be able to control your inventory, right? You would be surprised at how many people overlook the importance of this vital feature. Your software should provide the Product Availability Report and allow you to easily look up an item with a robust SKU item master file. Ideally, a good inventory software will project or forecast demand for a certain item, so you can be aware of when you should re-order or when you start to run low. The Low Stock Reorder function in DEAR allows streamlined reordering of stock that is running low, ensuring no sales are lost due to an item being out of stock. Stock Reorder parameters can be set globally for each product or independently for each location of your organisation.
Usable Inventory Analysis
It’s not enough for your manufacturing inventory software to simply tell you how much of a product you have. Your software should also be able to tell you what to do with the numbers. Like we’ve mentioned, your software should be able to project demand for an item via Smart Reordering functionality, that way you don’t run out of a hot item or over-order a product and that isn’t moving out of your warehouse as quickly. It’s also helpful if your software can help you determine which products might be good candidates for overstock liquidation, helping you to move inventory out of your warehouse as efficiently as possible.
Being able to automate as many processes as possible will save you countless headaches down the road, and one of the most important things to automate is product reorders. Within your manufacturing inventory software, you should be able to set a designated amount for a reorder. As soon as your stock begins to get low, the order will be automatically placed without you having to lift a finger. Just run the Inventory Velocity Report or schedule it using the Report Scheduling Module and reorder all the products at a click of a button. This ensures that you will always have enough product for your customers and will never have to worry about falling behind.
Streamlined Expense Tracking
Your manufacturing inventory software should allow you to easily see into your bottom line. Not only should it tell you your inventory and the figures associated with the product, but your software should also let you see service-based expenses. By streamlining every expense your business undergoes, your manufacturing inventory software allows you to take control of your finances and make the best monetary decisions for your company.
Convenient Cloud System
While you will of course have to use your manufacturing inventory software in the warehouse itself, it’s also nice to be able to pull up this information from anywhere in the world. DEAR Warehouse Management Solution (WMS) integrates seamlessly with DEAR manufacturing inventory software, streamlining your order fulfilment processes while increasing your productivity and reducing costs in the warehouse. Be sure that your software comes with a cloud-based and software-as-a-service (SaaS) feature. Not only does this add an extra layer of security to your information, but it also allows you to designate the number of users allowed and the amount of data you require. This feature is especially helpful if you maintain multiple locations, as you can quickly reference the numbers wherever you are and compare them side-by-side.
While many manufacturing inventory software systems are designed to be one-size-fits-all, your business is one of a kind. Make sure that your software can be configured to your exact specifications and can provide the features you need in your factory. This may include being able to designate certain users for specific functions by assigning the fine-grained control over user permissions, setting your own KPIs and metrics, customising the document and email templates, and adopting your own budget and expense accounting structure.
Advanced Barcoding Systems
Your barcode system can make or break your entire operation. If your manufacturing inventory software isn’t able to meet your high demands, you might risk miscounts or find your business lagging behind in a big project. Your software should be able to support a variety of standards, including everything from your typical barcode to more advanced QR codes. DEAR manufacturing inventory software can handle advanced barcodes with embedded data, which are ideal for stores that sell products based on weight or price.
Especially when you have a big order coming through, it’s just not enough to know that your order has or hasn’t been completed. The ideal manufacturing inventory software will allow you to see the progress of a job and track it in real time. This feature is not only advantageous for you when you speak to your clients, but it can also help your employees understand exactly what needs to be done at any given time.
While there are countless manufacturing inventory software systems available today, DEAR Systems is proud to offer one of the most affordable and advanced versions. Our software allows you to create advanced Bills of Materials, implement parallel and non-parallel operations in a Production BOM, define manufacturing processes for a single finished product or for multiple finished products at a time, quickly estimate costs by allocating them correctly to all the produced products as a result of one production process, generate the Production BOM Explosion by displaying an assembly at the highest level broken down into its individual components and parts at the lowest level, address production issues as replanning the Capacity and managing the overallocated resources, reschedule the production orders, production runs and operations, and so much more. Our team is always available to help with any questions or concerns, and once you’ve tried the software for yourself, you’ll wonder how your warehouse ever survived without it! Contact us today to learn more about our services.