Inventory management tools can help your small or midsized business align your stock levels with customer demand. As your business grows, you may find that manual inventory tracking, whether done on paper or Excel spreadsheets, simply doesn't scale well (in addition to being complicated and prone to mistakes). You may need some updated, automated inventory management tools that promote accuracy, are easy to use and integrate with your other business systems. Here are three great software tools and apps to consider.
Odoo is a comprehensive, open-source inventory tracking system that your business can customize. Developers have built hundreds of mobile apps that support it, so you can add apps to track sales, purchases and other inventory-related aspects of your business. Odoo has a proprietary point-of-sale system, making it even more useful for brick-and-mortar retailers. Adding inventory is easy with bar code scanning, and Odoo integrates with any e-commerce solutions you may use.
InFlow describes itself as "powerful inventory software made easy," and it offers a free downloadable version. InFlow doesn't provide all the bells and whistles that Odoo does, but its simplicity and straightforward user interface may make it a better choice for businesses with less complex inventory tracking needs. InFlow is primarily a software application and doesn't have add-on modules (as Odoo does) for customer relationship management (CRM) or online marketing. But if you're simply looking to track sales and inventory, InFlow may be your best solution.
Stock Control is an app for your iPhone or iPad that you can use to list and organize everything you have in stock and then find any item based on where it is stored, who supplied it or any categorization that makes sense for you and your business. You can monitor your stock levels as closely as you need to and even set up shortage alerts.
So which inventory management tools are best for your business? Start by taking stock of your needs, researching what's available and then testing out the tools.
Featured on THRIVE
SIGN UP FOR THE THRIVE NEWSLETTER