Inventory management software organizes, monitors, and manages product sales, material purchases, and other production processes. There are many types of inventory management software available. They vary not only in cost but also in features and deployment methods. The three core deployment methods are on-premise inventory management systems, Software-as-a-service (SaaS) inventory management systems, and cloud-hosted inventory management systems
How inventory management software enhances your business strategies
Small and large companies have inventories that include raw materials, finished goods, and assets. The automation of the entire inventory process can help reduce spillage and unneeded storage costs.
This is how it would look. You are the one that your customers order from. You order raw materials from suppliers to meet your customers’ needs. Problems could arise if there is no proper coordination between all involved. Inefficiency in the chain could be caused by a lack of inventory. Inventory management tools can help you manage your inventory.
Open-source inventory management software is the best way for companies to meet their client’s inventory needs. This software allows you to track your products, assets, and products. It also lets you manage your finished products.
These are the top open-source inventory management tools on the market today. These solutions can help you make better business decisions.
InFlow Inventory is suitable for businesses of any size. InFlow Inventory saves time, meets customer requirements precisely, and allows you to free up inventory cash. The free version of this software is available on-premise. This means that it is installed on your company’s servers rather than the cloud. You can manage up to 100 customers and products. It includes cost management, barcoding, count sheet functionality, purchase orders, sales orders, and cost management. It also tracks payments and provides real-time information about all completed and pending transactions.
You have two options to upgrade to paid plans: Premium and Regular. These premium plans offer additional features like separate user logins and bills of materials (BOM), work order management, and product serial number management.
Shortly Pro, unlike inFlow is an open-source inventory software that is built on the cloud. You can use it for any organization, as the free plan supports one user and allows you to manage up to 100 transactions per month.
You can upgrade your subscription to Pro if you need additional functionalities. You can use the cataloging and product tagging features to create product catalogs that include up to eight photos per item.
Upgrade to Ultra or Advanced plans to allow you to manage 100 entries each month. You can also use QR code scanning and tagging, user activity management, and custom branding.
Open-source business software Odoo includes a range of applications. It can be used for CRM, eCommerce, project management, inventory, and other business needs. Although this software is primarily used for enterprise resource planning (ERP), users can also download the inventory module and use it as an independent inventory management system. While Odoo is completely free for the inventory management module, you will need to pay a fee to access other apps such as CRM or project management.
Every aspect of your business is affected by inventory. Ineffective inventory management can lead to lost productivity, sales losses, and financial problems. Open-source inventory management tools can help you gain a better understanding of your supply/demand, which could give you an edge over your competition. To simplify your inventory management, contact Italian today.