Inventory Software

Tracking it all from start to finish

Whether you own a small business or manage a large one, you need some type of inventory software. Inventory software makes it easy for businesses to keep track of stock, utilize bar code scanning, manage shipping and receiving, and much more. There are many types of this software, so before purchasing, you should identify which type suits your needs.

If you’re looking for one program that will do it all, start by looking at software for inventory management. Inventory management software is a term that refers to programs that can manage most, if not all, aspects of your business. It can handle shipping and receiving, invoicing and even accounting.

If your needs are more specific, you’ll want to focus on what you have to track. Tracking software, generally speaking, is a computer program that records action of some sort. It can be as simple as tracking employee hours or Internet use, or it can be a larger-scale program, such as using GPS to track inventory movement. PC inventory software, for example, is designed to track the computers, servers and even upgrades on your network, making it easier to control your network. Asset management software helps you make informed decisions about physical assets belonging to the company. It tracks things like desk chairs and employee computers, as well as service, maintenance and replacement schedules.

If it’s your company’s inventory that you are looking to manage, there are several options you should consider. Inventory control software is used to manage inventory and stock. It lets you create invoices quickly and easily, and is often compatible with most bar code readers. Bar code software is used to make and print bar codes that can be used for inventory, invoices or whatever you need to track. Bar code scanning software is used to read bar codes, which act as unique identifiers. When scanned into a computer, they give you immediate access to information about the product. This may include the price, quantity available, department or any number of other pieces of information.

If you’re thinking large scale, then warehouse management software automates many processes that are critical in a warehouse, like shipping and receiving. In order to make the information available immediately, they often use bar codes and upload information as it changes.

Features and Benefits

• This type of software can be used for anything – inventory, assets, ID badges -- whatever you want to track.
• You can buy software that handles one aspect of your business or something that manages it all. Many programs integrate several needs into one package, offering inventory control and bar code software together, for example.
• Many programs can be customized to meet your specific needs, so you don’t have to worry about features you won’t use.

Top Choices

• NetSuite offers inventory control and customer relationship management software all in one package.
• Microsoft Dynamics software will work with all of your existing Microsoft programs, so it’s easy to use.
• SIMMS Inventory Management Software can be customized to meet your needs.

Major Considerations

• What do I need this program to track?
• Will it be compatible with the software that I am already using?
• Besides the software, what else will I need to buy? Do I need bar code scanners, GPS units, special printers or anything else that will add to my cost?

Price Range

Prices for these programs vary wildly. A program that just creates bar codes starts at about $40. If you’re looking at a program that will do it all, you’ll have to put out more money. Pricing depends on the licensing and subscription options that you choose. At the lower end - say one copy with a year’s subscription - you’re looking at about $1,000. If you’re looking at buying a fairly sophisticated program for a chain of 100 stores, each with several terminals, you could spend $80,000. Keep in mind that equipment can cost, as well; for example, if you intend to use bar codes, you’ll need to buy bar code readers.

Summary

There’s a lot to consider when purchasing inventory control software. Before you purchase, be sure to check out the demos and trials that are offered. They’ll give you a better understanding of how the program will work in real situations – and that will be handy when you’ve got 300 boxes of stock to be inventoried and priced before closing time!