• Usability
• Scalability
• Functionality

Usability is an important consideration in choosing an inventory management solution. Understandably any software suite needs to be easily accessible and understandable for its users, allowing workers to utilise its functionality. User acceptance will not be achieved with difficult to use inventory management software. An ERP package that provides integrated inventory management software reduces effort and streamlines information flows.

Scalability is vital when choosing inventory management software as the long term benefits should form a large constituent in any decision. As a dynamic business, the desired result of utilising inventory management solutions is to provide the company with resources that will grow and develop as the operation become larger and more complex. Your software should be able to grow with you.

One of the most important benefits of inventory management software is the way business functionality is impacted by stock availability awareness. Put simply this awareness is based upon accurate and current stock level knowledge, presented in an easy to understand format that provides genuine insight into business operations. Having such up to date and accurate figures creates serious benefits in both sales and purchasing processes.

• Sales teams benefit from being able to focus their efforts on existing stock, whilst faster, more efficient order fulfilment processes provide increased customer satisfaction, reducing instances of delayed or incomplete dispatches. The end result is happy customers and more productive customer relationships.

• Purchasing processes also benefit from inventory management software as decisions are based upon real time, accurate data, meaning that purchases are always appropriate and Just In Time purchasing can easily be implemented if desired. This improves cash flow by reducing stock holdings, while being sufficiently stocked to fulfil customer or manufacturing requirements.

The correct inventory management software can help your business in a number of ways; notably by improving stock availability awareness and operational efficiency. When purchasing software packages usability, scalability and functionality are key aspects that should form the basis of any decision; Microsoft Dynamics NAV provides all three and when implemented successfully offers businesses a solid platform from which to flourish and prosper.

Solutions to inventory management range from sole serving software that purely controls inventory and stock, to all encompassing ERP software that combine a whole range of different business functions as well as inventory management. There may be an argument for having a sole purpose solution; however this can soon be outweighed by the fact that all encompassing solutions are highly efficient with no duplication of work and customisable, allowing businesses to adapt the software so that it meets their demands perfectly.

If you are going to run a mid supply chain company smoothly and successfully, automating your inventory management and having accurate inventory information readily available is vital. By having a solution that provides flexible functionality and precise information on in-depth aspects of the inventory process, it is possible to maximise profits (through minimising your bottom line) and also ensure that your customers receive accurate updates on their orders and deliveries, greatly improving your company’s reputation.

Features of an integrated solution make it the most appealing option for businesses. It can provide applications such as item tracking and inventory costing, just like a sole serving solution but additionally it can provide inventory costing, item substitution and provide business notifications ensuring that your inventory management team are kept up to date with all relevant information pertaining to stock levels and inventory.

Whilst dedicated inventory management software certainly has benefits, in the modern distribution and importation industries there is a massive demand for integrated solutions. The cross functionality of ERP software and Microsoft Dynamics NAV in particular allows businesses to not only control their stock effectively but also to manage a host of different business functions. Ultimately this helps to increase efficiency within the company, improves customer relationships and also aids profit generation.

Evo-soft recommends the following 4 guidelines as keys to selecting a new software provider who will be a great partner, not just provider:

1) Capability – Does your partner have the knowledge and resources to get the necessary work done?

2) Character – Check some references. How does the provider deal with their current customers? Have they been honest and dependable?

3) Communication – Can you really talk to you supplier? Do they listen? Do they give you feedback and offer alternative solutions? Do they have any business experience? Can they relate to you?

4) Continuity – Will you have access to the people who design and implement your system after it is up and running? If not, how well will your support team know your business and its unique features?

A great partner will save you money and help your business deploy best practice strategies, while preserving your unique qualities. Get the right product, but be sure you get the right partner too!