Online inventory management is the use of web-based software to track products and services. It allows for easier employee access, reduces costs, and saves time. The ability to create simple charts and reports is a frequently requested feature. Mobile versions are also in demand.
Online inventory management refers to the systematic use of web-based software to maintain up-to-date information for a company’s products and services. Many organizations have traditionally used installed software applications for this purpose; however, the trends have moved in the direction of web based applications. An online inventory management system is used to track the existing number of products, outgoing orders, delivery status, number of recent sales of each product and those products that may be oversold or not warranted. Depending on the industry, inventory management software can also be used to create invoices, sales invoices and work orders.
Many business owners find using online inventory tracking systems beneficial for several reasons. Using an online portal allows for easier employee access when products are tracked over a large geographic area with multiple stops between warehouses and retail outlets. As long as each location has Internet access, company employees can access up-to-date information about each product order while it’s in transit. Additionally, the cost of installing software in multiple locations can be prohibitive for small businesses. Online systems eliminate this added expense.
User access to web-based systems can help speed up the inventory control process. Online inventory management allows employees stationed in different locations across a nation or even the world to perform tasks like order tracking and monitoring product levels. The ability to perform these tasks instantly from anywhere saves businesses significant amounts of time and resources each year compared to manual location systems.
In addition to storing inventory information online, there is a movement among software developers to reduce the learning curve with new brands of online inventory management software. Many management teams have found that some of these software packages are time consuming to learn and expensive each time a new employee needs to be trained to use them. One of the most frequently requested criteria for an online inventory management system is the ability for the user to intuitively create charts and reports that contain the required information but are simple to understand at the same time.
Compared to traditional desktop software, the option to use an online system can create more flexibility for busy professionals. Just as with access to a web browser, managers can access up-to-date inventory and sales information at any time, even while traveling. The increasing use of smartphones has also led to an increase in the demand for mobile versions of web-based inventory management applications.
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