“Any sufficiently advanced technology is indistinguishable from magic”
Inventory Management Apps are the best example of this.
Involving technology is the best decision I ever made regarding my business. Inventory Management Apps turn out to be an absolute blessing for me. My business experienced rapid growth in sales. The supply chain operations were simplified which made the whole procedure trouble-free.
The competition in the market is booming. So you can’t compete with others if insufficiency occurs in technology. I learned this and ameliorated my performance. A study says that up to 73% of warehouses use this app for managing inventory.
I am writing this article to guide all the business owners like me to understand this beneficial application. I will tell you how to use it and what are the advantages of using inventory management apps.
So without any delay, let’s get started.
The Evolution of Inventory Management and the Rise of Mobile Apps
The data given above shows the number of app downloads. This clarifies that we are dependent on apps so we can also use them for business.
Before the introduction of these apps, inventory management was a hectic and time-consuming process. It required intense labor work and still, you can find errors in the end. But as time passed and technology got advanced. Some apps launched for inventory management. The introduction of an inventory management mobile app was a much-needed aspect as it was much easier than old methods. Keeping data entry on a computer or having a hard copy of it was the previously used technique.
The new apps came up with features that were needed for inventory management. Stock tracking, barcode reader, reporting, and analytics are some prominent features that helped me and several other users.
The workload was reduced and the accuracy of the work increased. Stocking, tracking, and handling the goods became effortless. Operating supply chains and tracking the demand of the customer also became simple with the use of these applications.
Real-Time Inventory Tracking
Real-time inventory tracking is a groundbreaking feature of the app. Monitoring the stocks is a crucial part of management. It tells you which commodity is out of stock so you can order it. You can check the data and re-stock the lot. I liked this feature the most.
As a businessman, it is essential to have all your wares in your stock so you never miss out on customers. Previously, this work was done manually by keeping hard copies of the records. It sometimes may result in a delay in re-stocking or miscalculating the inventory.
It also helped FMCG retailers. They have products that expire shortly after packaging, so they must keep records of their stocks. If you are one of them it’s time to use this feature and make your working experience easier than before.
Do You Know?In 2023, the average annual consumption of FMCG products in India was 117 kilograms per household.
Enhanced Accuracy With Barcode Scanning
It is an attribute of the application that scans the product and generates the details. The old way of generating details of the stock is mostly manual. The worker needs to collect the details of the products one by one which is time-consuming and also mistakes can be spotted.
The process of receiving and re-stocking goods gets quicker with the aid of barcode scanning, and it makes the records specific. This feature helps in managing and classifying the different products according to their details. This feature eases the way of keeping data on stocks by automating the process.
It reduces the chances of delaying re-stocking. It keeps updated on each product, you can check and manage the inventory according to your needs.
Streamlined Order Management
Order management is a vital aspect of business. Supply chain operations are directly affected by order management. It refers to managing the amount of wares ordered by the customers. It ensures the right figure of the commodities has been released or not. It controls the record of orders to avoid a slowdown in delivering the goods.
It includes the inspection of the whole procedure of the order. Starting from the warehouse to reaching the customer. Calculating the number of orders and then working ahead according to it comes under order management. I used this app to stop mistakes like the misplacing of products, delays in delivery, or running out of stock.
The market is full of competitors and that’s why you need multiple sales channels, it multiplies your reach. And when you use multiple channels the number of orders increases. That’s why order management becomes more pivotal if you intend to scale your business.
Data-Driven Decision Making
With the help of inventory managing apps, understanding the data becomes facile. The demand and sales can be calculated easily and decisions can be made according to it.
Once I spotted the decline in the sale of a certain product and after that I made some efforts to capture the market by giving some offers or reducing the price. And if a product is doing good in the market then I can have more stock of it. You can also do the same by checking data regularly.
As a car showroom owner myself, I can tell you that data-driven decision-making is much needed. Cars are not easy to store. That’s why I need to give orders according to the demand and supply. This application helped me in doing this with ease.
Scalability and Flexibility
The use of inventory management applications is not bounded by boundaries. It can be scaled to a very large extent. These apps can be used or operated from any place. Its flexibility makes it more prominent.
From managing a few products to international logistics, it is mastered for both. You can manage all your inventories from one place. It makes the handling of vast businesses easier and simplified.
Final Thoughts
I will wrap up my article by saying that inventory-managing apps are a blessing for me. And if you use it properly, it definitely will be one of the most crucial reasons for your growth.
