How to find the right Inventory Management Software for your business?

Finding the right inventory management software is easier said than done.

Let’s face it, inventory management is a critical part of any successful business, no matter how large or small. In a fast-paced world where agile solutions are key, efficient inventory management is essential to ensure that you:

• Improve customer satisfaction

• Minimise costs

• Maximise efficiency

 As we all know, finding the RIGHT software is easier said than done.

Because the angle that many software providers come at it is by providing a rigid solution that you have to bend to in order to make it fit – it’s a square peg in a round hole situation.

Now, at MPX, that’s not a philosophy we buy into.

Because we understand that inventory management is a vital part of your business and integrating it with all of your systems can make your lives a whole lot easier.

After all, how can you grow when you’re not running at optimal efficiency?

The Benefits Of Inventory Management Software
However you manage your inventory, there’s always improvements that can be made.

Part of the MPX ideology is to ensure that everyone in the MPX community benefits from the improvements, upgrades, and new ideas we bring to the table.

And we apply those principles to inventory management. But in terms of general applications of inventory software management, you’re looking at the following…

Real time inventory tracking and visibility:
Modern inventory management software allows businesses to monitor stock levels and movement in real time. That’s key to help ing prevent stockouts, overstocking, and other inventory-related issues, while ensuring you always have the right amount of products available to meet customer demand. The right amount of stock at the right time means you’re at peak efficiency, after all.

Enhanced accuracy and reduced human error:
Manual inventory management can be prone to human error, which can lead to inaccuracies and costly mistakes. Let’s face it, the goal is to help your team be as effective as possible and a smooth inventory management system will do exactly that. Reducing the likelihood of errors and improving the overall accuracy of your inventory records is without doubt a key benefit.

Improved cost management:
By optimising inventory levels, businesses can minimise carrying costs, reduce waste, and avoid emergency orders that might cause issues. Additionally, the software can help identify slow-moving items, allowing you to adjust pricing strategies or review underperforming stock.

Streamlined order fulfilment:
Inventory management software can automate the order fulfilment process, ensuring that orders are picked, packed, and shipped quickly and efficiently. This can lead to increased customer satisfaction, repeat business, and positive reviews – it’s a win, win, really.

How Do I Know What Inventory Management Software Is Right For Me?
When it comes to the right inventory management software, our advice would be the same as it would for any business management software and systems…

Have a serious think about what you want it to achieve.

There’s no point looking at the features and benefits and trying to apply them to your situation because that’s always going to be an awkward fit. 

The BEST thing you can do is speak to someone, outline what your needs are and see what solutions they can offer.

It’s exactly what we do here at MPX – we almost reverse engineer it by figuring out your biggest challenges and creating a system that overcomes them to create a more streamlined process in your business.

We believe that one system should rule them all (yep, that’s a Lord of the Rings reference).
And that means having one system that talks to each part of your business rather than dealing with a different system for inventory, another one for invoicing, a separate one for marketing and a bunch of spreadsheets trying to tie it all together.

It’s about doing joined-up thinking through your software and systems.

Think of it as integration – what do you have in your business that works and that you like?

Keep it and improve on it, creating a system that can do everything in one place.

For any help or advice with Inventory Management Software, get in touch with us today…

Email: letstalk@wearempx.co.uk
Phone: +44 (0) 1785 508 055
Or click here to Book a FREE Demo!