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info@flexsin.comInventory Management System
Like salt, your inventory should be in the right quantity, neither overstocked nor under-stocked.Efficient Inventory Management software is a must for smooth Ecommerce.
Primary function of any inventory management system is to let you track your all inventory activities in real-time and make it easier for you to find your items whenever needed, not harder. Poorly managed inventory would result in slower sales, disgruntled customers and sleeping investment on the shelf, all that will add up to business losses.
Besides tracking sales and communicating with stake holders like suppliers and clients in real-time, an effective IMS should be flexible to allow for the retailer's intuition and incorporate dynamic data, such as heavy seasonal demand. It facilitates efficient information sharing between the retailer and vendor, resulting in cost cutting for all the stake holders, including the end consumer.
Inventory management systems are not just used by retailers and manufacturers; they also come handy for enterprises managing a supply chain of consumable items, like medical facilities. These virtually rule the big enterprises that cannot run without an automated IMS that provides detailed reports on cost of goods sold, sales, purchases, stock level, profits, losses etc.
How Inventory Management System work?
When an item that the consumer wishes to purchase is put under a scanner, its bar code or RFID information is fed into the IMS that instantly updates the inventory. It keeps track of the sales and stocks, giving managers a real-time view of what is happening with the inventory. It also makes recommendations for re-ordering strategies.
When multiple users access inventory, the system ensures that they have updated information with them so that they do not end up ordering something which is out of stock. Custom view option lets you customize what you want your customers, vendors and third parties to see about your store and inventory, without letting them screw anything up.
IMS generates re-order, low stock warning reports and anticipates stock levels so that you have the item in shelf when customer asks for it. You have a full view of organized catalog of items for efficient inventory management, movement and maintenance.
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