Inventory Management and ControlTrack stocks ins and outs. Manage Transfers, identify supply chain shortages, and optimize inventory all in one place.
Inventory Management Features
Access inventory levels from anywhere around the world. View items details for different locations.
Each item can be edited to include information such as multiple images, variants, SKU code, barcode, supplier, locations, weight, cost price, sell price, multiple pricelists such as wholesale and retail, sellable option, taxable option, description, notes and pack sizes.
Each item has a detailed stock history, opening balance log for quantity, date and assigned team members.
Inventory Detailed Report
Check total stock on hand and filter by location or item type, total stock available. With our stock control software, the details can also be split by each item and variant.
Check all items and variants that have fallen below the reorder point in a list displaying supplier name, number of items and variants to reorder. Create POs to fulfill reorder levels automatically.
Our inventory control software enables you to increase and decrease stocks levels for new items, returns, and damages – which also works for multi-item stock adjustments.
Inventory stock on hand report
See your total units on hand plus total costs, retail value and total profit value for the stock on hand. For each item or variant, see the number of units in stock, if they’re taxable or not, the retail price, the inventory value, the retail value, the profit value and the profit margin.
Select a warehouse or stock location and check stock on hand, committed stock, last ordered stock, last purchased stock, inventory value, profit value and profit margin.
Bundles, product kitting and pack sizes
Define groups of items that are sold as one unit.
Benefits of Inventory Management and Control
- Boost Employee Efficiency
- Improve Delivery Performance
- Shorten Lead Times
- Reduce Write-Offs
- Lower Costs
- Increase Inventory Turnover
- Increase Planning Accuracy
- Stock More Accurately
- Reduce Over-Time
- Improve Relationships
- Increase Sales
- Increase Transparency
Using Think Aisle has allowed my organization to better manage our inventory and grow our business.
Frequently Asked Questions
Q1 - What is the difference between inventory management and custom inventory management?
Inventory management and inventory control are similar but have different focuses.
Inventory management handles forecasting and ordering stock. Inventory control, also known as stock control, is a part of inventory management that handles the stock on-hand.
Q2- What types of inventory management systems are there?
5 Basic types of inventories are raw materials, work-in-progress, finished goods, packing material, and MRO supplies. Inventories are also classified as merchandise and manufacturing inventory.
Q3- Can custom inventory management be used for retail?
Inventory management is one of the pillars of a successful retail operation. Custom Retail inventory management techniques help stores and eCommerce sellers satisfy customers, reduce costs and increase profits.
Capterra review Testimonial from our retail client: The software integrated so seamlessly with our current operations and in fact made the workings more efficient. The team is extremely helpful and adjusting. By far the best decision I’ve made for my operations team.
Q4- How can inventory management be improved?
There is no way to achieve the perfect inventory level, but minimum stock levels are a great way to approach this balance. Set a minimum stock level for each item that allows you to order new stock before you run out. Base your minimum stock on sales data combined with the time needed to acquire new stock.
Q5- How to deal with inventory shortages
Here are some of the strategies for remedying your shortage woes:
- Prioritize Critical Shortages by Supplier and Buyer and Identify the Root Causes
- Optimize Your VMI Threshols.
- Automate tasks with inventory management software
- Calculate reorder points.
- Perform supplier segmentation
Q6- What are the benefits of custom inventory management?
- The Ability to Automate Unique Workflow. …
- Custom Reports, a Much-Required Business Intelligence Tool. …
- 24/7 Technical Ongoing Support with Proper Analysis of Business Requirements.
- High-Speed Private Cloud Solution.
Q7- What are the three features in inventory management software?
- Real-time inventory tracking. …
- Real-time inventory value. …
- Reorder points & low stock alerts. …
- Purchase management & supplier management. …
- Unlimited SKUs. …
- Proper inventory reporting.