What is an Inventory Management Software?

The method through which you keep track of your products across the whole supply chain, from purchase to manufacture to final sales, is known as an inventory management system. 

Moving to a dedicated inventory solution can give significant benefits to your company. 

Inventory management software helps to 

  • track inventory levels,
  • raise procurement requests in case the inventory levels reach a certain threshold.
  • Raise inventory orders,
  • manage sales operations,
  • manage and track end to end fulfillment and last mile deliveries.

Inventory Management Software by RocketFlow is #1 Inventory Management Software used by warehouses, manufacturers, distributors, traders, stockists, mills and OEM. Inventory Management Software by RocketFlow can also be used in the manufacturing industry to create a work order, generate bill of materials (commonly referred as BOM) and automate procurement and fulfillment. Inventory Management Software by RocketFlow provides end to end supply chain automation with ease and helps you take digital in a pricing that suits Small and Medium Enterprises.

What is ERP Inventory Management Software?

Enterprise Resource Planning (ERP) inventory management is a software system that allows businesses to manage all aspects of their business on a single platform. Inventory Management Software by RocketFlow is an Enterprise Grade Software designed for Small and Medium Enterprises, startups which includes processes to manage inventory, planning, procurement, BOM, logistics, last mile delivery operations, financial processes and operations.

What are the benefits of using an inventory management software?

Using inventory management software like RocketFlow helps you manage your business better. Some of the notable benefits are listed below: 

  • Increased Efficiency: Manual processes around inventory management gets automated with Inventory Management Software by RocketFlow. Some of the processes which can be automated are warehousing related processes for Inventory IN and OUT, damage reporting, intra warehouse movement of stocks and products, inter warehouse movement of stocks and products, tracking and tracing of the inventory.
  • Higher profits: Inventory Management Software like RocketFlow helps you notice pilferage, outliers in terms of procurement or consumptions or expiry. This has a direct impact on your business revenues. Also, it helps you reduce your cycle of delivery through better production planning, forecasting and delivery fulfillment.
  • Inventory Optimization: Inventory Management Software by RocketFlow gives you real time visibility into the stocks. Avoid pre-order and un-utilization scenarios, define thresholds for inventory ordering in the software. Once the threshold levels are reached for a product, Inventory Management Software by RocketFlow automatically triggers notifications and places procurement requests. Inventory Management Software by RocketFlow also categorically shows the inventory in batches for inventory which is perishable in nature. This ensures that inventory is used in an efficient manner and utilized in a FIFO sequence.
  • Reduce Errors: Inventory Management Software by RocketFlow allows you to scan barcodes/qr-codes and browse to directly the inventory details or order details where inventory was utilized, this helps significantly in reducing errors. Inventory Management Software by RocketFlow also can automatically raise trigger messages for notifications via email, messages, whatsapp to pre-configured service vendors for procurement. Businesses can reduce the time for which inventory stays in the warehouse un-utilized using the software.
  • Improved customer experience: Inventory Management Software by RocketFlow helps you improve customer experience. Get a storefront (website) for your customers to place an order instantly. Using the business processes within RocketFlow for logistics, last mile delivery and integrations like Dunzo, ShipRocket, GPS Trackers even the fulfillment experience is drastically improved.

What all important features an Indian SME should look in an inventory management software?

Order Management, Manage and Track Inventory, product, sub-products, brands and variants. Provision to handle GST billing, financial processes for Sales, Purchase and Accounting. Oversee warehouses and associated processes for managing returns and damages, inter and intra warehouse movements of goods. Inventory Management Software by RocketFlow is an Inventory management software designed for Indian businesses. RocketFlow is a One Stop, Real Time Inventory management software to run all your inventory related businesses and operations.

Now since you have understood the behavior how ERP for Inventory Management can benefit your business. Please checkout Inventory Management Software by RocketFlow (https://rocketflow.in/solutions/inventory-management-software) for instant implementation at an affordable price crafted to suit the Indian SMEs.

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