As you’re likely well aware, every business is unique and offers its own set of potential obstacles and opportunities. This also means that no two inventory processes are exactly alike and that it is, therefore, important to assess your needs on an individual basis. The inventory management features that could make the biggest difference for you, might not be the same for the guy down the road. That being said, whether you’re using quickbooks inventory management or another service, there are a few features you should aim to have. Here is a breakdown of what they are and how they can help your business succeed.
Basic inventory tracking
The central concern of any inventory management system should be the ability to keep a flawless account of inventory levels. You want a system that makes it easy to access information about what you’re receiving, what orders are being filled, and where you need to increase the amount. In order to do this, you’ll need to use a system of either a barcode, RFID tags, serialization, or some alternative. Be aware that not all systems have the same kind of tracking capabilities, so it is important to know what feature would work best for you before you invest.
Make security a high priority
Knowing you have tight security and easy backup capabilities is going to provide you with major peace of mind. Whether you’re dealing with a cloud-based service or local installation, you want to know that additional security measures have been taken in order to safeguard your data. Not only can loss of data have a negative impact on your workflow, but it can also do more permanent damage to your reputation and business. Look for a system that offers daily back-ups and an overall security approach you feel good about.
Don’t lose sight of scalability
Regardless of your current size, you want to invest in a system with a little bit of wiggle room. Chances are that you have ambition towards expansion in the future, so you should be looking to invest in a scalable product. From upgrades to the ability to add users, it is best to go with a system that you feel will encourage you to grow, not limit what you’re capable of doing going forward.
Think about integration capabilities
In the same way, that scalability might not be a big concern at the moment, you might also need to think about integrating your inventory management system with other software in the future. As your business develops and new software comes on to the market, you want to ensure you’re in a good position to take advantage of any and all opportunities that present themselves.
Make keeping your reports in order a breeze
It’s a business school basic that is easy to lose track of when things pick up. Get yourself an inventory management system with a strong reporting function and you’ll never have to worry about overlooking something important again. Good reporting will help you maintain a seamless workflow by telling you how much, and where exactly your inventory is needed.