Many businesses have implemented technological solutions into their operations to help boost efficiency and productivity. This has been done in marketing, customer service, sales and a variety of other aspects. When it comes to inventory, there is now technology available that can help companies better manage associated processes, and firms are increasingly adopting the solutions. Inventory management software
is allowing businesses to maintain more control over their supplies and have better insight into what they process daily. Also, the technology keeps companies up-to-date with inventory compliance
, reducing the risk of violations.Firms want to optimize their inventory
Making sure there are enough supplies available to meet consumers' needs can be an arduous task for businesses. Employees need to dedicate hours on end to accurately count inventory and go through every step, meaning that other duties can go ignored. According to DC Velocity
, many companies are now turning to technology solutions to maintain control over their inventories. A survey by the source revealed that nearly one-quarter of businesses plan to purchase inventory management software in 2013.
There are many reasons why firms are making these systems a priority in the new year. Companies are looking for ways to reduce unnecessary expenses, and technology is one way to accomplish that. Additionally, as more purchasing channels emerge, businesses need strategies to effectively manage products, which has led to the adoption of inventory software
. Firms in every industry are seeing the benefits of implementing the systems, the source writes.
"Inventory optimization tools are not really industry-specific, so they can be used in most verticals," Tim Payne, research director for Gartner, told the source. "The main distinction between the different tools is whether they can do just finished goods or can go back into manufacturing and consider 'WIP' [work in process] and 'RMS' [raw material supply] as well."Other advantages of inventory software
So what are some of the other benefits that inventory software can provide for companies? The Houston Chronicle writes
that customer service can be improved by using the systems. Businesses will be able to determine which products they have in store, letting consumers know whether the items they want to purchase are available. Labor costs and time are reduced with the technology, as employees do not have to spend large amounts of time on keeping inventory up-to-date. By implementing the software, companies will maintain more control over and improve their processes.