How do inventory systems work?
An inventory management system (IMS) is the combination of technology (hardware and software) and processes and procedures that allows you to track goods across your business’s supply chain.
It optimizes the entire spectrum spanning from order placement with your vendor to order delivery to your customer, mapping the complete journey of a product.
Many companies manage stock in their own unique way, depending on the nature and size of their business.
Common Uses & Questions
- Can we utilize barcoding or RFID?
- Need IMS to communicate with other business systems
- Scrap management
- Need to have accurate SKU counts
- Estimation of future usage
- Reorder notifications
- Customer portals
- Can this be used for multiple locations or warehouses?