How To Choose Inventory Management Software

2007-03-08 10:33:40

( Computers )



When planning to implement any type of inventory management software, you must consider several factors. The most expensive software application may not always be the best for the functionalities that you actually need for your company.

Consider the cost of the inventory management software. The cost of the application is one of the biggest factors in your project. By establishing your budget, you more or less have an idea of what software you are going to buy and implement.

Consider also the different functionalities of the software. Do your research. Study your current inventory management system. You should know what you need and what you don’t in order to manage your inventory. Depending on the available functionalities, retail inventory management applications can range from nothing to millions of dollars. You have to determine if you need just software to locate your inventory in one or multiple plants. You also have to determine if you want an application to forecasts and analysis. Each functionality that you add on top of the basic is likely to add to the original costs of your software.

Inventory management is only one application in your company’s system. You should think about software integration. Most of the inventory management software can be integrated or can be programmed to stand alone. Check the compatibility of the particular application you are considering with your current systems. This is an important factor. If your new application is incompatible with your existing ones, this mistake can cost you millions of dollars in shipping and production.

Lastly, check the supportability of the system. Implementing the application is just the first step in inventory management. There is also the issue of ongoing support and maintenance. You should check the extent of support and maintenance schedules your vendor will provide you if you decide to purchase their application.


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