The transparency that such software provides can have a significant impact on a company's bottom line Companies that track their goods closely can minimize waste analyze trends and make better investment decisions. How merchandise management systems make companies more efficient functions of merchandise management systems Your software of choice should offer all the functions necessary for effective inventory management in addition to any useful additional functions. These include the following Barcode Scanning System Inventory management systems should be able to interface with barcode scanners to easily identify label and track products.
Stock Optimization Make sure you have just the right amount of each item neither too much nor too little. This is particularly important if you trade in products whose demand increases or decreases seasonally. Stock Alerts Get notified when stock levels go above or below a certain amount. This allows you to place orders at the right time Specific Database or offer special discounts to reduce excess stock. Reporting Overview of past sales history with a list of the most popular products. You can also use reports to manage items in your inventory that have not yet reached the expected sales figures and for example give discounts on these items. Management of multiple locations Manage multiple warehouses and points of sale points-of-sale or POS .
All locations can be integrated into a central merchandise management system. Returns Processing Manage returns more effectively by reducing processing time by automating the entire process. Grouping of goods Group your inventory into predefined categories and ensure that you are always up-to-date on the quantities in your inventory. Manage reorder plans as needed. Order data Get a central overview of all orders. This way you can easily see which products are in high demand – seasonally or consistently – and prepare accordingly to meet customer needs. Useful additional functions RFID-based in-transit tracking This feature is useful when you receive shipments from third parties and ship goods yourself. The RFID technology enables real-time tracking of your items during transport.