{"id":4282,"date":"2018-12-11T07:33:46","date_gmt":"2018-12-11T12:33:46","guid":{"rendered":"http:\/\/flevy.com\/blog\/?p=4282"},"modified":"2018-12-10T14:39:55","modified_gmt":"2018-12-10T19:39:55","slug":"5-tools-to-help-you-manage-inventory-more-effectively","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/5-tools-to-help-you-manage-inventory-more-effectively\/","title":{"rendered":"5 Tools to Help You Manage Inventory More Effectively"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignright size-medium wp-image-4283\" src=\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image1-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image1-300x200.jpg 300w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image1-768x512.jpg 768w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image1-1024x683.jpg 1024w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image1.jpg 1599w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>For a great number of businesses, having a world-class inventory management process is critical to the success of their operation. These businesses recognize the importance of always knowing their inventory levels, their inventory holding costs, and the movement of their inventory. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">To ensure that they always have real-time inventory data, most businesses now use inventory tracking software. Manual inventory tracking is being phased out in almost all sectors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If yours is one of the companies that are looking for great software solutions to better manage their inventory, you are in luck. I have put together a list of 5 excellent inventory management tools that will completely revolutionize how you track inventory.<\/span><\/p>\n<h2><b>1. Dynamic Inventory<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Dynamic Inventory calls itself the Rolls-Royce of inventory tracking. Given the features of their software and the value those features offer to businesses that use them, their claim is not farfetched.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dynamic Inventory is developed to accommodate the demands of any business no matter its size. Whether you are a startup or a big operation with branches in several states, you will like Dynamic Inventory.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of the features include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Dynamic reporting: the major benefit of having Dynamic Inventory is the ability to tell in real time what your position is at any given time as far as your key inventory metrics are concerned. Dynamic Inventory reports visualize data in real time from all the important areas including customers, sales, purchases, and vendors.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Low stock alert: the software will notify you whenever your stock levels drop to your pre-set minimum stock levels. These notifications can be in the form of an email, a text message, or a notification icon or dialog box on your computer screen.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Multiple location management: <\/span><a href=\"https:\/\/www.skuvault.com\/blog\/warehouse-inventory-management-tips\"><span style=\"font-weight: 400;\">if you have several warehouses<\/span><\/a><span style=\"font-weight: 400;\">, you can manage the movement of inventory in all of them from one place. You will never get things mixed up as Dynamic Inventory allows you to define locations, sub-locations, and specific stores. All the data you need for each store can be collected and updated from one portal.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Other important features include <\/span><a href=\"https:\/\/www.dynamicinventory.net\/sales-order-management-software\/\"><span style=\"font-weight: 400;\">sales order management<\/span><\/a><span style=\"font-weight: 400;\">, purchase order management, product management, vendor management, audit logs, ability to limit user permissions, and consignment sales software.<\/span><\/p>\n<h2><b>2. Oracle NetSuite OneWorld<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignright size-medium wp-image-4284\" src=\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image2-300x263.jpg\" alt=\"\" width=\"300\" height=\"263\" srcset=\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image2-300x263.jpg 300w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image2-768x674.jpg 768w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image2-1024x899.jpg 1024w, https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/12\/image2.jpg 1366w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>Most people who have worked in inventory management or customer relationship management are familiar with or have heard of NetSuite. Before 2016, the software was simply called NetSuite. It was acquired by Oracle in 2016 and was renamed Oracle NetSuite.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The software\u2019s target market is mainly SMEs and it over-delivers every time for this market segment. For this segment, it can be used for customer relationship management, inventory management, and as a general ledger. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The fact that it does other functions besides inventory management does not dilute <\/span><a href=\"https:\/\/www.shopify.com\/blog\/70603013-warning-youre-losing-money-by-not-using-these-8-inventory-management-techniques\"><span style=\"font-weight: 400;\">its inventory management features<\/span><\/a><span style=\"font-weight: 400;\">. In fact, it may be one of the most robust pieces of inventory management software you ever use.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Oracle NetSuite OneWorld can be comfortably used by all people handling inventory management including supervisors. It has Key Performance Indicators that can be customized by every user to define the performance areas they most care about.<\/span><\/p>\n<h2><b>3. Zoho Inventory<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">At only $29 per month for up to 10 users, Zoho Inventory is one of the most affordable inventory management solutions in the market right now. This $29 package will allow you to manage up to two warehouses. For greater capability, you will have to buy a bigger package.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The software has all the typical inventory management capabilities you\u2019d want including purchase and sales order management, multiple warehouse tracking, and barcoding.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the best advantages of using Zoho Inventory is that it integrates seamlessly with other online solutions that a typical online retailer might use. You can integrate Zoho Inventory with Shopify, Etsy, eBay, Amazon, Stripe, and Zoho CRM.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can also benefit from Zoho\u2019s partnerships with various shipping carriers. They have partnered with FedEx, TNT, Australia Post, UPS, Asendia, and Fastway. <\/span><\/p>\n<h2><b>4. AdvancePro <\/b><\/h2>\n<p><span style=\"font-weight: 400;\">If you need a feature-rich affordable inventory management solution for SMEs that integrates with QuickBooks and other popular accounting software, AdvancePro has got you covered.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The services offered include inventory management, order fulfillment, inventory control, order processing, management of the picking and packing process, invoicing and billing, barcode scanning, FedEx and UPS integration, and vendor purchase orders, among others.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You will be able to track inventory in several pickup locations and be able to seamlessly manage the transfer of inventory from one location to another. \u00a0The software also gives re-order alerts to ensure that you never run out of stock.<\/span><\/p>\n<h2><b>5. Fishbowl Inventory<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Fishbowl Inventory is one of the best inventory tracking solutions for manufacturing concerns and warehouses.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Manufacturers are able to easily create work orders for almost all jobs including assembly and disassembly. These orders, if commonly used, can be saved and used repeatedly to save time and money.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fishbowl Inventory also allows manufacturers to keep track of inventory during every stage of manufacturing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Warehouses are able to get up to date information about their inventory levels. Since they can establish re-order points for every product in the warehouse, Fishbowl will ensure that out-of-stock events are always avoided. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The software integrates with QuickBooks, Amazon, eBay, DropBox, Shopify, FedEx, Salesforce, Magento, UPS and other popular retail software.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For a great number of businesses, having a world-class inventory management process is critical to the success of their operation. These businesses recognize the importance of always knowing their inventory levels, their inventory holding costs, and the movement of their inventory. To ensure that they always have real-time inventory data, most businesses now use inventory&hellip;&nbsp;<a href=\"https:\/\/flevy.com\/blog\/5-tools-to-help-you-manage-inventory-more-effectively\/\" rel=\"bookmark\"><span class=\"screen-reader-text\">5 Tools to Help You Manage Inventory More Effectively<\/span><\/a><\/p>\n","protected":false},"author":17,"featured_media":4283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-4282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/4282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=4282"}],"version-history":[{"count":2,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/4282\/revisions"}],"predecessor-version":[{"id":4286,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/4282\/revisions\/4286"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/4283"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=4282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=4282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=4282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}