What is an Inventory Management System and 4 Factors to Look for in One

September 10th 2019 15:00:00 PM

Inventory management is a process that is used to ensure a business always has the products it needs available. It also strives to keep the costs of these products as reasonable as possible. An inventory management system uses technology and processes to monitor and protect stocked items. These items include raw materials, supplies, finished products to be shipped to customers, and company assets.

Ready to update your inventory management system? Let one of Scanco’s friendly experts work with you to find the right solution. Contact us online or call (330) 645-9959 now to make your personal appointment.

What to Look for in an Inventory Management System 

As the e-commerce section of the market continues to grow, it becomes increasingly important for companies to keep up with the latest technology to manage their inventory effectively. How can you compare your options when you are looking for an inventory management system? Here are some suggestions to help you.

1. Is it easy to operate “out of the box”?
   You may find companies offering inventory management options that have many bells and whistles. While this may sound intriguing at the outset, a system that is challenging to learn or operate will only result in your team getting bogged down. Ideally, you want to choose one that is user-friendly from the start and easy to operate.
2. Will it run on a number of devices?
   Ideally, you want a system that will work with more than one device. Depending on your team’s needs, you will want the flexibility to input or access data using a bar code scanner, a smartphone, an iPad, a laptop, or a desktop computer. This level of flexibility allows you to mix and match your hardware to meet your team members’ needs while keeping a firm eye on the cost factor.
3. Can it update in “real-time”?
   An inventory management system will only be as good as the data it provides to you and your team. If you have to wait for your system to “sync” in order to give you the latest data, you may be missing out on valuable facts. It’s costly and embarrassing to ship the wrong item to a customer because your inventory management system wasn’t able to update an order change quickly enough. Likewise, you don’t want to get stuck paying for items you never received. The right inventory management choice can help you avoid both situations.
4. How well does it track bin locations?
   Ideally, you want to be able to tell at a glance exactly where your inventory is situated within your warehouse. Your system should be able to identify physical inventory counts and freeze items on the fly, as necessary.

Scanco Mobility App for Sage 100/100 Ticks all the Inventory Management System Boxes 

Scanco’s Mobility App for Sage 100/100 allows you to automate your cycle counting and year-end inventory. You get the double advantages of saving time and greater accuracy, all while using any iOS or Android device.

It was developed to be user-friendly and can be taught to your team members quickly. With the mobility app, you have the flexibility to conduct item inquiries, inventory transfers, instant bin-to-bin moves, and more! All these updates are done live, in real-time, so everyone on your team can rest assured the information they are seeing on their device is accurate.

Would you like to learn more about Scanco’s app for Sage 100? It’s easy to take the next step. All you have to do is contact us online or call (330) 645-9959 for your personal appointment with a Scanco Solutions Expert.