What is inventory management app ?
The inventory management app is a software application that helps you to keep an eye on the stock of your products and manage the inventory of your business. It will help you to maximize your company's profits by cutting down on inventory costs and managing the supply chain of your product. In addition, it will also help you to streamline the ordering process so that you can build better relationships with clients. The inventory management app will also help you to save time and effort by handling all the day-to-day tasks related to it for you.
5 Ways an Inventory Management App Can Keep Your Restaurant On Track
What is Inventory Management?
Are you seeking a formula to solve all your problems related to stocks and inventory? With inventory management, you can get the right purchase at right time at the right cost. Isn't that amazing? So what exactly an Inventory Management does?
In simple language, inventory is a list of goods that are stored either as raw material for the production of the finished goods ready to be sold or for reselling purposes. Inventory management is an important asset for any company as its turnover depicts revenue earned by the business. It tracks the coming in and going out of goods with the help of barcode scanning machines that helps transfer all product information into the inventory software for proper analysis.
What's an Inventory Management App?
In today's time, it is impossible to meet industry standards if businesses try and achieve correct inventory manually. It's time you take the guesswork out of your daily running business and create a better flow of information within teams.
Software companies have upgraded inventory management systems by creating inventory app that can be downloaded from ios android app stores and allow the users to search and enter data anywhere anytime. It is no longer feasible to operate software only through your desktops, as managing inventory is a 24-hour job as most businesses today are global having multiple SKUs. Inventory app serves as a centralized database with features that allow you to forecast sales, track purchase orders, automate the re-ordering process, generate daily, weekly, monthly as well as yearly reports with many other competencies. It basically aligns business with better communication and ease of working.
Inventory management apps can help you reduce costs, increase profits and track your inventory.
Not sure which app is the one for you? This article will help you find out.
5 Ways an Inventory Management App Can Profit My Business
Inventory mobile apps have been successful in providing the minutest details in real time in seconds without taking the pains of actually going to your workstation and opening your laptops. Here are 5 tasks managed on mobile app that has helped small businesses increase their profits-
1. Barcode scanning is possible with mobile apps- Today's processes are so easy use that you can use your mobile camera for scanning barcodes. The image then gets uploaded directly to your inventory software. The convenience of tracking and counting inventory was never this easy and helps save many employee hours that they otherwise waste in counting inventory every day.
2. Managing multiple locations with a single device- The asset tracking of inventory goods is an important and tedious task as the inventory costs money and is the source for all your profits. Business owners through the inventory app can source all the information from their inventory warehouses situated in multiple locations in one single small app. The managers can communicate and analyze inventory data in real time every second.
3. Manage inventory from remote locations- It often happens that inventory tracker software doesn't work properly in stock rooms due to poor wifi networks, extreme temperature conditions or, it's just not feasible to take your laptops where your inventory goods are kept. Here mobile apps come in handy and you can count and save inventory even if there is no wifi network. Once you are back in the wifi network the counted inventory gets uploaded into the software automatically. Inventory apps this way are time efficient as well as viable.
4. Instant visibility and optimization of supply chain- control inventory by knowing your inventory levels through batch tracking that lets you know how much purchase orders, order fulfillment, and sales have been achieved by getting constant updates about each stage of the supply chain. Know your sales instantly on a cloud based inventory app and manage inventory items by differentiating them on the basis of price, tags, weight, and quantity.
5. Password-protected accounts- achieve the highest level of security and scrutiny in your business through a data locking system that is accessible only to the top-of-the-line managers. No employee can dare to commit any kind of theft that can cost the company its money and reputation.
Benefits of Inventory Management Software Over Manual Inventory
If you want to scale your business and get maximum output from your business with respect to sales and keeping control of your supply chain then, you need inventory management software that manages all your data and turns them into informative reports that help in making better business decisions while lowering costs.
Manual inventory is highly incorrect and takes more time to count daily inventory as compared to today's intuitive software that is reliable and stores historical data and predicts your buying behavior.
Manual inventory is open to theft, as no tracking system is available that can keep accurate count checks on inventory while Inventory apps let you count inventory in the remotest area with barcode scanners that accurately tells you what is kept where and in how much quantity.
Even though manual entry may not be as bad for small businesses, but what if that small business wants to become a brand and wish to give a great dining experience to their customers and make them happy, then automation and adopting inventory software is the only way forward as it helps to maintain the quality and quantity of your inventory so that no problems related overstocking or understocking ever occur.
5 Best Inventory Management Apps for Restaurants
Food Management is no rocket science but it is tricky to maintain the right inventory levels at all times. Some of the app inventory pioneers that have transformed and automated the restaurant business are-
1. Zip inventory- An affordable cloud based software that does inventory tracking so that you can make informed decisions regarding your sales related to what's selling and what's not. Track your asset management and control your costs by knowing your order quantities. A simple and user-friendly app gives you all the information related to basic inventory like inventory levels, stock alerts, historical data of past orders, and so on.
2. QuickBooks online- Optimize your shelf to sheet data into a comprehensive inventory report and detect and resolve issues before they become big through QuickBooks online mobile app.
3. zoho inventory- Track your inventory with barcode scanning tools to manage batch numbers, SKUs, and serial numbers provided on different products. Read reports that let you know vendor payments, inventory aging, inventory valuation, and much more. The easy use interface of Zoho inventory app is easy to navigate and lets you share and download reports at any given time. This inventory software can be integrated with exisiting software running in your business seamlessly. For small businesses, you can try their free plan that lets you process orders up to 50 daily orders. For big companies, their paid program is a good option as you can track multi channel inventories from a single app and can add an unlimited number of products.
4. XtraChef by Toast- it is the best inventory management software that managed all your sales channels from one simple inventory app. Now you can speed up your process of food service deliveries, take more orders and make more sales than ever through advanced management features that are well integrated with your existing software to give you insightful data related to your restaurant business.
5. Crunchtime- this is a great software app meant to handle a multi-location restaurant business that is mostly known for its sales forecasting features and e-procurement for your vendor supply chain.
Your restaurant is always running out of something, and it’s driving you crazy.
An inventory management app will help you keep track of your inventory. This article directs you to the best in the business.
How Much Does Inventory Management Software Cost?
Based upon your business needs, inventory software providers offer you a plan that suits your business and can support you for better future growth. To begin with, small businesses can try free plan offered by software inventory companies and see if that streamlines business.
For medium to large-scale enterprises, a complete inventory management system is much more suitable and comes at a cost. With paid software, you can customize some software features according to your business requirements. The system also provides an immense number of features that can track your entire supply chain from procuring, purchasing, packaging to fulfillment and shipping.
Since the inventory software works on a subscription model their prices can vary. On average, the pricing starts at $19 per month per user and can go up to $300 per month per terminal. Again, the more the pricing the more added features and upgraded software a company gets.
Inventory Management FAQs
1. What is the right time to purchase an inventory app?
An app inventory is the easiest way to count and track items that are already kept or needed for your inventory. It is one of the most affordable software that brings uniformity, transparency, and growth to your working culture. As soon as your new start-up is up and running, inventory software should be one of the first apps to be purchased.
2. Is it necessary to integrate inventory software with existing running software? Will it disrupt the existing system?
It is advisable to choose a system that integrates well with other existing software as it can help in business growth by providing you with better insightful data related to inventory handling and lower your existing posts through smart decisions based on facts.
You heard a lot about inventory managing apps, but you haven’t understood them completely.
The article discusses how they work and shows you where to find the best ones.