Chapter 10

g a n
o sin
Cho

ste m
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What is an inventory
management system?
An inventory management system is a
piece of software used to track inventory
items in a business, and oversee all the
processes involved in stock optimization.
Any system’s bottom line goal is to
ensure the right inventory is available, in
the right amounts, at the right time - with
as few manual tasks involved as possible.
Benefits of using
an inventory
system
Selling and storing physical
goods must track inventory in one
way or another. Tracking can be
done via pen & paper or
spreadsheets. But using an
automated, computerized system
has many benefits:
1. Less time wasted on manual tasks.
2. More consistent customer experience. 5. More insightful analytics and reports.
3. Stock levels updated in real-time. 6. Faster fulfillment from being
4. Reduced labor costs. better organized.
7. Less cash wasted on unnecessary inventory
and storage.
8. Company becomes more easily scalable.
Key inventory management system features

• Live syncing • Returns processing

• Forecasting • Multiple warehouses
• Re-ordering • Integrations
• Suppliers • Cycle counts
• Barcode scanning • Automations & rules
• Stock notifications • Bundles
• Reports
Additional 1. Order management 4. Returns management
features for 2. Picking & packing 5. Wholesale orders
retailers 3. Warehouse management 6. Accounting
Choosing an
inventory
management system

1. Timing
2. Integrations
3. Features
4. Ease-of-use
5. Support.
6. Development.
Inventory system options
Veeqo
Brightpearl
Tradegecko
Linnworks
Stitch Labs