Have you ever been aware of these 5 awesome tools for efficiently managing your wholesale inventory?
Let us know more about these tools in this short article. Here are those 5 tools –
- ERP Software
- Wireless Barcode Scanning
- Mobile Sales App
- Lot Tracking
- Document Management
But before that, we need to understand the exact meaning of Wholesale Inventory Management.
Wholesale Inventory Management –
Wholesale Inventory management is the process of obtaining B2B goods storing and gaining profits from them. It is usually a method to know which products the company should have in stock at different price points & locations in order to project a perfect inventory flow.
In simple words, we can say that wholesale inventories are the amount of unsold inventory in possession of the wholesaler.
Let us now have a look at the 5 Tools –
5 Tools for Wholesale Inventory Management
1) ERP Software –
Wholesale Inventory Management software’s like ERP, SAP, etc. perform the functionalities of managing the inventory efficiently from purchase to sale. The ERP software has various modules as per the need of the company i.e. procurement, manufacturing, sales, production, stock, etc.
With such software, you can keep a close eye on the stocks, by assigning a particular code to the items in your inventory. For example – if you have an item to be purchased regularly for your production needs, then you can assign a respective code for it in the ERP software and whenever you need to purchase the said item, you just need to click on the code assigned. In this way, you can keep a close eye on all your respective inventories.
2) Wireless Barcode Scanning –
When you are having a large warehouse where you have your inventories placed in the racks or shelves, it is very important to organize those products for easy pick and delivery.
The Barcoding system makes it easier for picking, packing and shipping products smoothly without any interventions. These barcodes are scanned while picking up the stocks from the inventories so that the inventory shortages can be updated in real-time to make the user knowledgeable about the current inventory scenario.
3) Mobile Sales App –
There are various mobile sales app for wholesale Inventory management. As sales is an important aspect of business, such mobile sales app that manages inventory can perform important functions for the said business. Such apps can help to take orders and scan inventory in real-time for efficient inventory management.
With such mobile sales app, the inventory information is linked with the system and the back-end ERP system for real-time updates. With this, you do not have to re-enter the orders and make your product delivery quicker.
4) Lot Tracking in Inventory management–
Lot Tracking is the process of batching the products according to the shipping location, product type, delivery essentials, etc. In Wholesale Inventory Management, Lot Tracking is very essential as it tracks specific lots or specific products in the inventory system.
In Wholesale Inventory Management, Lot tracking ensures which customer has received the product and when did the customer receive it. With the Lot Tracking system, we can have a detailed tracking system over the inventory and this is why it is very important in wholesale inventory management.
5) Document Management –
It is one of the important things in wholesale inventory management which helps to record, store and retrieve important documents related to the inventory management system.
Such document management systems allow businesses to scan inventory documents and gather relevant information in quick time which can help them to generate a specific workflow related to the inventory management system. The documents can be easily retrieved from the system with efficient document management which can help to perform better and provide quick service to the customers.
These are the top 5 tools for wholesale inventory management that can help to perform better and proceed in the first quadrant of the success graph.
For more information on wholesale inventory management software visit zapinventory.com and learn more about the inventories and inventory management system.