What is inventory app ?
An inventory app is an app for your business that records, tracks and categorizes items in inventory. These apps can be helpful for many different reasons, such as identifying a product's location, finding out when merchandise will be delivered to a particular store or keeping track of what products are on sale or out of stock. The benefits of using an inventory app are numerous because they can help you keep tabs on your inventory and restock your shelves in less time. Read on to know how to pick the best inventory app for your business.
Inventory App- The Best Way to Keep Track of Your Inventory
What is an inventory app?
Inventory apps are extremely helpful for businesses. They can be used in many cases such as a food business, a retail store, or even a home-based business. These apps are easy to use and will save you time on the front end. By using an inventory app, you can increase your productivity and efficiency in your work. In this article, we have narrowed down some of the best inventory apps that can help with these tasks. "Businesses today rely on technology to maximize their engagement with their customers but also to improve their bottom lines," said Jack Middleton, CEO of Zonbu Inc., in a recent Forbes article. "The proliferation of inventory-management software is helping companies streamline their supply chains by allowing them to track and manage items from suppliers all the way through to customers." As more businesses move towards e-commerce and technological advances in supply chain management, inventory management has become an integral part of keeping up with demand. The time to install an inventory app is now!
Why you should use an inventory app?
Managing inventory is tricky, but it is crucial for large and small businesses to achieve efficiency in operations and reduce costs, thereby keeping accounts and finances in check. If you lose control over your inventory, it will eventually lead to a drop in your profits. Inventory management apps allow users to manage their inventories, find accurate pricing information, receive automatic alerts when inventory levels drop below a certain level, and manage sales. These apps have also been proven to increase productivity and sales by up to 87%! It also helps establish better relationships with your suppliers as well as your customers. Inventory apps help you avert common stock-related issues such as inconsistent tracking, changing demand, inaccurate data, limited visibility, supply chain complexities, under-or overstocking, among others. There are several benefits to installing an inventory app. Read this article to know what they are and how they can help your business grow.
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The benefits of using an inventory app?
Businesses need to run like a well-oiled machine, and inventory management apps help them do so. All businesses have certain issues that can often keep them from running efficiently as they should. Using management software to monitor stock counters many of these challenges and has several benefits. Some of these include-
Efficient Inventory Processing- These apps help streamline inventory processing by tracking stock and monitoring associated costs. Inventory apps offer visibility through real-time updates about stock movement. This way, you will always know the status of your inventory. These apps also alert users about quantities and come with in-built restocking alerts. So, you can ensure that you are neither under nor overstocked. This further results in quicker processing and selling times.
Digitize Inventory Tasks- Inventory management automation will give you greater accuracy, reduce human error, and avert costly mistakes, thereby increasing your revenue. When you switch from traditional, manual inventory management systems to automated software, you and your team don't have to spend hours counting and recounting stock, reading shipping labels and serial numbers, or documenting the movement of inventory manually. You use the saved time to focus on achieving other objectives. With inventory apps, you can track your stock, expenses, and gains with a few clicks.
Minimize Aged Inventory and Stock-outs-Inventory apps allow you to sort your inventory by date so you can track what order came in first, ascertain the quantity you have, and control how much to sell accordingly. Knowing the goods nearing their expiry puts you in a position to move aged inventory before it becomes deadstock and save your company from incurring losses. Inventory apps also enable businesses to deal with stock-out, which affects the demand and supply of your products. A stock-out is a term used to refer to a scenario where there is an unexpected demand for a specific product, causing it to sell out. Inventory apps can help businesses prepare for this with features like low-stock alerts, real-time inventory valuation, and automatic updates.
Precise Expense Tracking- These apps run reports for total sales, taxes, and other relevant financial information in real-time to help businesses track inventory costs and revenue. These reports are especially useful when businesses audit and account for various aspects of their inventory. This also puts businesses in a good position to make informed financial decisions.
Increased Profitability- Inventory tracker apps offer valuable insights into products that are selling well and those that aren't. With this information, businesses can make sound decisions about what to stock more of, and this enables businesses to understand their market better and lead to greater profitability.
Better Customer Service- Automatic low-stock alerts enable businesses to always have their best-selling items in their inventory and meet customer demand. Inventory apps ensure that they send you real-time updates about your stock, so you never run out of your top inventory items. They also allow users to store vendor information, so all they need to do when running low is raise a purchase order. Constantly meeting customer demand may also convert one-time buyers into loyal customers.
Better Warehouse Management- An efficiently-run warehouse, where items are organized according to demand and other factors, reduces labor costs and quickens order fulfillment. An organized warehouse also ensures better inventory tracking and stock control, and this further empowers users with the ability to identify sales trends and track reordered products.
Improved Data Visibility and Planning-Inventory apps allow for easy data transfer that can be accessed from a centralised source. With the help of inventory apps, companies can establish accurate data asses that will help them analyse their operations. In today's extremely competitive environment, businesses intelligence is particularly important. It can empower companies to adjust their marketing and outreach programs and boost profits.
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How does an inventory app work?
Inventory apps are the single most effective tool to manage inventory for any business. Hundreds of inventory management apps with various features are available for android or iOS devices that allow users to track inventory in real-time from anywhere. While each app comes with its own installation and upgrade procedures, capabilities, and pricing, most of them enable users to streamline inventory management through the following-
Control Inventory- inventory management software usually includes categorization of products, inventory history, cycle counts, live reports, and vendor management, among others. This data syncs with other systems to help you get an overview of your current stock and provide you with valuable insights about what to order next. This enables businesses to streamline inventory management across locations and in real-time while preparing you to deal with inventory mishaps.
Barcoding and Tagging- Manual inventory management leaves room for plenty of errors. Inventory apps eliminate this possibility with the help of barcode systems or QR codes, which track pricing and product details. Easy barcode scanning also leads to faster performance.
Reporting and Alerts- One of the most useful aspects of inventory apps is their ability to generate and update users on vital information in real-time. Most apps can be synced with various reporting tools and features that lead to quick communication and reduce clerical errors, thereby increasing productivity. Stock alerts, too, allow you to optimize inventory levels by saving your business from running out of your bestselling items or incurring losses on wasted inventory. Improved cross-department visibility of data eventually helps maintain operational control while driving sales.
Inventory Forecasting- This feature of inventory apps helps users determine what products are going out of stock, so businesses never run out of their top-selling items. This enhances the users' experience and offers them greater control over their stock. These insights help businesses align sales and marketing efforts, reduce the risk of stock-outs while reducing holding costs, and increase asset efficiency.
Integrations with Other Systems- Inventory management apps can easily be integrated into other systems to improve accuracy and efficiency.
Remote Control- Inventory management apps allow you to monitor inventory remotely. They boost productivity by giving 24/7 access and real-time data inputs, which can boost productivity.
In a nutshell, inventory apps offer you the tools to track inventory either by item or in bulk by connecting to a database to update stock levels. They are quick to set up, easy to use, and offer you stock alerts in real-time.
What are the best inventory apps to use for your business?
There are more cloud-based inventory management solutions in the market today that promise to cater to the needs of a variety of businesses than ever before. Most inventory management apps used to be available on iOS alone, but many apps for Android have begun to make a mark for themselves in the market. They also come with multiple features, some of which may be better suited to a certain kind of business. Many also include integrations with other systems such as Point of Sale (POS) or accounting to offer supply chain insights. But it is all the more difficult to choose the right fit when you are spoilt for choice. We have narrowed down a few of the best inventory management apps so you can pick the one that would work the best for your business.
Zoho Inventory- Available for desktop, or as a mobile app on iOS and Android, it offers wide-ranging features such as item kitting, reordering alerts, warehouse management, and real-time reporting. These features make the inventory app ideal for retail, distribution, and manufacturing businesses. Zoho Inventory offers a 14-day free trial and integrates top-tier e-commerce accounts such as Amazon, eBay, and Shopify.
Sortly- Another promising inventory app, Sortly's key features include custom reports, stock alerts, barcode checks, and robust customer support. While the free plan of the app makes room for only one user, the paid upgrades can add up to five or more people. The app is available for desktop, iOS, and Android.
BoxStorm- The free inventory management app is also limited to a single user. An upgrade to the paid version allows users multiple locations, items, and transactions with features like data transfer, purchase orders, and stock alerts. BoxStorm is specifically designed for Quickbooks Online users of small to medium-sized businesses and is available on both iOS and Android.
Zip Inventory- Zipinventory allows users to set variable count frequencies, track variances, easily transfer data, and access supplier delivery schedules to streamline inventory management. The app is best suited to businesses in the food and beverage industry and is available on Android and iOS for a free demo.
Stock Control- Item sorting by location, easy search tools, and shortage alerts are some of the features of the app that help manage inventory. The free version of this app is limited to 15 items and is available only on iOS, and works seamlessly on an iPhone/iPad.
Cin7- This easy-to-use app works on a per month subscription basis which helps small to medium-sized businesses with real-time visibility, easy integration, and automation for efficient inventory management. The app is mostly used by companies dealing with apparel, flooring, and furniture. This is a web-based app that functions on both android and iOS platforms.
InFlow- The android app is primarily used by retail, distribution, manufacturing, wholesale, and e-commerce companies. InFlow offers a real-time assessment of their stock across locations. It even allows users to track sales and purchases from one system, thereby providing greater visibility and leading to greater efficiency.
Inventory Now- Key features of the app include product lifecycle tracking with category, subcategory, and location details, barcode scanners, item kitting, and invoicing. The app allows easy transfer of data that can be imported and exported as spreadsheets or can be automated to be backed up in your Dropbox account. The app is available on iOS and desktop.
Fishbowl- This inventory app is useful for those who use QuickBooks as it offers easy integrations, along with an easy barcode scanner setup, multichannel and real-time tracking. Fishbowl is available for iOS and android and for a free 14-day trial. Once the trial period is over, users have to contact Fishbowl directly for a quote.
SOS Inventory- This software was designed specifically for QuickBooks online and includes features such as bin tracking, advanced reporting, and sort and filter options. It is available for the web as well as iOS platforms and can be used for up to 30 days for free.
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How to set up your new inventory app?
Shipping inventory is a time-consuming process. One of the most difficult tasks involved with running a business is tracking your stock and reporting to your vendors. You might be stuck in the dark ages of paper reports, but today you can use an inventory app to make everything easier for you. Most inventory apps are designed to handhold you through the setup process. However, it is recommended that you be equipped with vital details about yourself and your business when signing up for a particular app. The key thing to remember here is that all apps vary in their setup processes so instead of trying out something new without having the relevant knowledge beforehand, make sure you know what type of data they ask for before choosing one. Once you have assessed your business needs and goals, homed in on the app that you think is best suited for your business, and decided between paying up or a free trial, you can proceed to install the app. With an app like Zipinventory, clarity about Zipinventory Features you wish to avail (to choose the right edition), keeping supplier and stock information on hand, or even minute details like the day of the week that your company starts work on, will ease the onboarding process.
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How to track your sales item with an inventory app?
Inventory apps allow for the control of inventory and actionable data, which is key to selling a product. For example, if you have an app integrated with your POS system, it can offer insights about every time you scan or ship a product- this could include helpful information like how many units are available in stock at any given time and total revenue generated from sales. Powerful inventory systems with integrated or supported tools like barcode scanner app, phone barcode scanner, bluetooth barcode scanner, inventory barcode scanner, and in special cases, food cost calculator app forge matrices that monitor inventory levels across multiple locations, create custom sales and purchase orders to enhance order management and offer data that can help companies compare sales and inventory data to make smarter decisions and increase profitability. By integrating these systems into your business model, organizations will be able to integrate powerful tools that help them succeed today and tomorrow!
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