Choosing the Best Inventory Management software for Your Business

There are a few things to consider when you decide to look into inventory management software for your business, because you will want to choose the best possible!

First and foremost, your business’ sector will assuredly lead you to the proper system. For instance, if you are an online e-commerce fashion site you would not be able to properly utilize all of the incredible tools that PartsBase has to offer, like Automation via APIs, our list capabilities, Overhaul tools, access to over 30,000 users in 217 countries, and increased company exposure with advertising. When you realize what software will best serve your company needs, we can move to our next step.

Budgeting

Deciding on a budget for your future inventory management software is vitally important for your business. It is commonly said that you decide how to get the most out of your inventory management software, and the first step in that equation is to properly budget.

You will have to know the price range that you are looking to spend on this software. You want the best services, for the best price point available. By narrowing your search in terms of your budget you will not only save yourself plenty of time searching through options, but you will undoubtedly save your business so much needed cash. If you are looking for the most basics of software, there are free sites for your needs. However if you are a large corporation that needs to list a heavy amount of inventory, you may want to investigate an enterprise type software.

Don’t be afraid to check for your options!

Know Your Limitations

Now, you may be thinking, “doesn’t this sound an awful lot like budgeting”? And to that, you are not entirely wrong. This section however is more geared towards proper CRM, accounting, ERP, and other options. The inventory system you choose should be able to integrate with systems that your business already has in place because, if you don’t, you will have to manually enter your data. We take it that no one REALLY wants to do all of that manual entry work in your business, so be sure that your specs line up properly.

Depending on how many data points your business will have (i.e. listing items, items for sale, locations, orders, restock …) manually entering will take ages. By having all the proper specs lined up, you will negate potential loss in data and even just clustered data points.

System Tracking & Users

Tracking your stock is obviously the most important factor when choosing your inventory management system, whether that be through barcodes, serial numbers, kitting, lot control, or RFID tag. It may be challenging to decide on this because some work better than others, which can also depend on the market of your business.

Not all of the inventory management systems that you find will give you the option to track your stock, especially when speaking on small office markets and businesses. Trying to force your business to conform to a system purely based on tracking can be very costly, which is why you need to do an in-depth analysis of your options.

Furthermore, you don’t want to have the highest end system in place for your business … if you don’t have the highest demand for your product. Knowing how many end users your business has will give a great deal of information when deciding which inventory management system you choose. When you view pricing information or contact the company for a quote, having this information readily available will quicken your decision and allow for the money to start rolling in!

In Conclusion

We hope that these small tidbits manage to help you and your business when you decide to choose an inventory management system, regardless of your industry. If you are, however, in the Aviation, Aerospace, and Technology industries we heavily recommend getting in contact with someone here at PartsBase.

PartsBase has been in the industry for two decades, and you don’t manage to stay at the top of this field for that long without learning a thing or two. We take great pride in being able to work with our customer’s needs, and ensuring that they are satisfied with the services we provide. If you are at all interested in learning more, please visit our website here or call any one of our numerous professionals at 561-953-0700 to get started!