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You might get an idea about what inventory management is with an example of a business or a shop that provides goods and services near you. It is one of the most critical aspects of a business, especially if you are a retail business. For retail businesses inventory that is managed properly can help carry on with business activities. If you are a business manager, inventory management systems help you track the inflow and outflow of your inventory and stocks.

Imagine that you have no clue about the inventory that you have in your warehouse. You will not have an idea about the number of lots you want to order and the status of your inventory. When we talk about making a business decision about your inventory using online tools, accuracy in allocating inventory to each channel is the result. Without such a system, you will get stuck with too much inventory to handle or get an incorrect amount of products. You can learn about different businesses and different business processes using Spectrum internet that also provide users with Spectrum Silver Package that is quite affordable as well. We have compiled a list of tools that will help you get the best results and accurate inventory management for your business:

Ecomdash

This is one of the best inventory management software that also helps your keep a track of your order as well. You can manage all online sales channels from a single dashboard. Ecomdash is very useful if you are someone who wants to manage sales and keep a track of them and check out your stock levels using platforms including Amazon, eBay and many other popular buying and selling platforms.

EZRentOut

This is a cloud-based inventory management tool that helps users to track rental items using easy to use processes. You can maximize your ROI and make your processes more efficient and productive. You can also use their mobile application to save time and carry out barcode and QR code scans very easily. It also helps businesses to create seamless order and shipping. You can keep tabs on the entire rental fleet working in different locations. If you are someone who needs to keep a track of your books using QB and Xero, this can also be done using the tool very easily.

ShipMonk

ShipMonk is one of the tools that offers users many features that can help you get a lot done. The software is capable of managing multichannel orders, manage inventory and work as a warehouse management solution with support to businesses of almost all sizes. The tool claims to provide users with sustainable growth in their profits and performance and is very simple to use. You can sync the tool with your sales channel and store, pick and pack your consignments and ship the order. The entire process is not going to cost you or take much time.

EZOfficeInventory

This is one of the best asset and inventory tracking software that helps you manage assets and inventory throughout the business. You can keep a track of your vendors, customize the alerts for low stock threshold so that you can optimize your inventory management process. It can also track and scan QR Codes, Barcodes and RFID tags to take actions. You can use one of the mobile apps offered by the company and manage your operations even if you are not in office.

PartsPal

This is one of the complete inventory management tools and fitment systems for businesses that are associated with manufacturing cars or auto parts. You can add data fitment, store information and manage different sales channels from a single place. You can also increase your market reach using the parts interchange system.

ERPAG

The tool helps you get orders from different sales channels and launch work orders based on the bill of material or the product structure. The tool helps you record your inventory/orders, track your inventory using barcodes, serials and lot information. You can get the user-level management, shipping integration, integrate invoices and use Gantt charts and many other tools to measure business operations of businesses of all sizes.

GOFRUGAL

These guys have been providing PoS to many Retail and Distribution businesses and Restaurants as complete business automation solutions. The tools can also be paired with the user’s mobile apps and other cloud solutions. Businesses and brands around the world use these tools and benefit from them. The restaurant management software by GOFRUGAL is to track inventory, manage receipts, provide free accounting and manage orders as well.

Final Words

Managing inventory is one of the most critical aspects of the trade. Effective management of your inventory and the goods at hand can get you an idea about the number of sales your brand or product is generating and the cost of goods that you are left at the end of the month or at the end of the year. This will help you decide the future of your business and make decisions accordingly.