Explore the training features before you purchase a system. If you’ve never used an inventory management system, getting started can be intimidating. The system should also include new user training. it’s not overloaded with features you don’t need. For example, it can track your historic sales to predict when you will get a surge of purchases, so you can buy extra inventory and prepare better for your peak season.Ī user-friendly inventory management system should be easy to navigate, load information quickly and be simplistic, i.e. Data analysis uses information from your inventory cycle to help you make better business decisions. However, some systems can also help you predict future inventory needs. One of the biggest features of an inventory management system for small businesses is the ability to tell you how much you have left of each product. They can use a mobile app to access the inventory list and make sure the parts are available, either on their work truck or back at the office. One of your plumbers is at a customer’s home and needs a particular part to fix an issue. On the other hand, you probably need mobile access if you run multiple locations or work primarily from work sites.įor example, let’s say you run a plumbing company. Mobile Accessĭoes the inventory system offer mobile access, or does it only work on a desktop? For online or retail shops with one location, this may not be as important. Having an inventory program that doesn’t move data to your other systems could end up causing more hassle, rather than less. Even a simple inventory system for small business owners should have the ability to connect to current software.
Once you’re managing inventory electronically, it’s important that your software programs work together. Alternatively, a brick-and-mortar shop that uses a POS system needs an inventory system that automatically updates registers with in-stock products. Online merchants should consider a system that works with their e-commerce platform so the website stays up to date with current inventory.
Compatibility is necessary because it’s a huge time-saver – why spend time transferring data between systems when you can avoid it altogether?įor example, if you use accounting software like QuickBooks, look for an inventory management system that can update your tax information after buying or selling products. This allows your two software systems to share information, sync and generally “play well” together.
Ideally, your inventory management software will be able to integrate with your existing business software. Most businesses use multiple types of software at once. This feature removes the guesswork and sets an automatic re-order so you can focus on running your business. You can set your inventory system to place an order for more bulbs once the number in stock reaches 29. You want to keep at least 30 of a specific type of headlight bulb in stock at all times. Once a product falls below the limit, your inventory management system places an order with your supplier to restock the low items.įor example, you run an automotive parts store. You set a limit on how many of each item you need to have in stock. Some inventory management system software features include the ability to set up automatic restock of products. They might think that you’re unlikely to have other parts or items they need and choose a competitor the next time they’re shopping in your industry. Missing out on a customer because you’re out of stock not only loses the immediate sale, but can erode customer trust for your business.
If a key part or product is running low, you don’t want to wait until it’s out of stock to order more. There are plenty of options, so how do you choose the best inventory system for small businesses? A good fit should have these key features: Automatic Inventory Restocking
These systems electronically keep track of all the items you sell, allowing you to locate items quickly and restock before you run out. Upgrading to an inventory management system makes keeping track of your inventory easier, putting less strain on you and your employees. If you’re tracking inventory manually or through Excel, mistakes are bound to happen and could get worse as you expand. You know that it can cause setbacks in customer loyalty and sales. “Of course we have that part for you! We’ll grab it from the back.” Five minutes later: “So it looks like we’re all out.” Sound familiar? Chances are you’ve been in this situation, either as a customer or a shop owner.