INVENTORY

Inventory management software is a Web based Application for tracking stock levels; purchase orders, sales order and deliveries. It can also be used to create a purchase order and bill of materials. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets. Nowadays companies often use inventory management software to reduce their carrying costs. The software is used to track products and parts as they are transported from a vendor to a warehouse, between warehouses, and finally to a retail location or directly to a customer.

Inventory management software is used for a variety of purposes, including:

• Maintaining a balance between too much and too little inventory.
• Tracking inventory as it is transported between locations.
• Receiving items into a warehouse or other location.
• Keeping track of product sales and inventory levels.
• Cutting down on product obsolescence and spoilage.