What is Inventory Control Software?
Inventory Control Software, also known as Stock Control Software, helps manage an organization’s tangible inventory by showing how much of each product is on hand and available.
Inventory control tools help with business operations, such as purchasing decisions, demand analytics and forecasting, vendor evaluation, and order enhancement.
The value of inventory control software
Inventory control software is essential to keeping business running smoothly for organizations that deal in physical products, whether that means transporting them, selling them, or using inventory as intermediate goods to sell a finished product.
Common features
- Asset tracking
- Check-in and check-out
- Inventory databases
- Inventory forecasting
- Inventory history
- Barcoding
- Audits and reports
- Automated alert system
Inventory control solutions can help sales teams and point out any bottlenecks in productions and shipping. Barcode and warehouse management features enable stock control tools to integrate in with inventory management solutions.
Stock control software that does not integrate in with inventory management tools can integrate with barcode, accounting software, and warehouse management software.
For an inventory control software product to be included in this category, it should:
- Be able to support an inventory database
- Provide inventory forecasting tools
- Track inventory metrics
- Use RFID or barcode technology to track assets