Computer Inventory Management Software

June 14, 2022

Did you know the average person has over 100 passwords to remember? If you're like most people, you use apps and websites for many facets of your life. But, if you own a business, you have even more to remember when it comes to computer systems that are meant to make everything easier.

Computer Inventory Management Software

You can save yourself the frustration and improve your business with specific software. For example, computer inventory management software puts everything you need to run your business in one place. Best of all, it's automated and requires less tedious data entry.

Keep reading if you are ready to get rid of the traditional "books" and use an automated inventory system!

What Is Computer Inventory Management Software?

If you run a business that sells products, you need an effective and easy way to track your inventory. A computer inventory management system fulfills most of your needs as a business owner. Besides, every detail you could need about your merchandise is in one place, making for an effective tool in the workplace.

A computer inventory management system can track the location, amount of the item, and expiration dates. This software is a worthwhile investment because you can manage your inventory in real-time. As merchandise gets sold, you can immediately see what needs to be ordered or restocked.

Benefits of This Software

A computer inventory management software provides you with total control of your merchandise and finances. You can access your inventory in real-time, meaning that you can see the items sold as it is happening! You can also see what products are not selling as well. This feature is powerful because it allows you to choose whether to continue selling a particular product.

Inventory software also allows the entire team to be on board. If every worker can learn the software, the whole team can track merchandise and stock as items start to run low. In addition, if your employees can track inventory, they will be able to provide input. It's essential to have many perspectives in business; it will help you bring in more customers!

The traditional style of maintaining your inventory uses something like an Excel spreadsheet. This inventory management style is famous for a reason, but it has a lot of faults. For example, data is entered by hand, and the employee has to cross-check it many times.

With manual data entry, human error is inevitable. For example, typing the wrong SKU number can completely throw off your inventory. Using an updated computer inventory management software, you will scan your items using a barcode scanner. Britecheck even offers a more accessible option; scanning with your phone! With computer inventory management software, you will avoid mistakes and increase business functionality!

Financial Security

Another major perk to using computerized inventory management software is the financial security it allows. Every time you count your inventory, there is always the possibility that you are missing items. In the business industry, this is called shrink.

Customers and employees are possibly the culprits of your lost items. However, utilizing an inventory management system will help keep that shrinkage number low. Why? In addition, it allows you to keep a better eye on the shipping, receiving, and sales of items.

Speaking of shipping and receiving, using software to track your inventory will increase the speed of this process! As you receive stock, an employee can scan it into the system. Once in the software, it is automatically added to your inventory in real-time. If you ship items to customers, it will work the same way! You scan the item you are mailing, and it will remove it from your inventory.

As you integrate a computerized inventory management software, it will begin to analyze data and create reports. This flexible reporting feature will create forecasting and strategic planning reports. These reports allow the owner to see which items sell the best in certain months or seasons. In addition, information from these reports will help you order the appropriate inventory at the right time!

Are There Disadvantages?

Though there are very few, some disadvantages exist in using computer inventory management software. Let's discuss them and how to avoid them!

A problem with any computer software is the possibility of a system crash. Therefore, a vital step with any online business component is to back up your data as often as possible. A system crash can occur for various reasons, but the most frequently seen are corrupted hard drives or power outages. Maintain your hardware, and the software will continue to serve you!

Another possible (not inevitable) disadvantage is a hacker getting into your systems. Hackers look for any way to get into a company's software to access consumer information. For example, an inventory system connected to point-of-sale information is a treasure trove for hackers trying to obtain card information.

So how do we avoid this? Update your firewalls, change passwords frequently, and maintain anti-virus software on your devices! The disadvantages of computer inventory management software are manageable and avoidable if the proper precautions are taken.

Now Is The Time!

Managing inventory effectively can make or break your business. If there was a way to save money and time while tracking all of your merchandise in real-time, wouldn't you use it? Throw out the spreadsheet program you are currently using and upgrade! Purchase computer inventory management software and see how much easier your life becomes.

Increase your business functionality by visiting Britecheck's website today!