4.Does the solution integrate with other systems?
Most companies use more than one type of software; for example, you may have accounting software, reporting solutions and data analysis (Power BI).Then it’s important to make sure your inventory management software integrates with the other systems in your company.
Integration can also help reduce errors by preventing the creation of duplicate entries throughout your solution. For example, if an item is ordered from one system, received in another, and finally released in a third, you need to have communication from start to finish. Your accounting department will appreciate the tracking of fixed assets and depreciation.
Overall, when choosing inventory management software for your business, make sure any potential solution can integrate seamlessly with existing applications to avoid any issues.
5.Is your inventory management solution optimized for your company?
You need to make sure that the inventory management system you are using is suitable or adaptable to your business. This is a fairly simple concept, but it is often overlooked. If you are using software that is not tailored to your business process or uses, it will eventually become unused by your employees. For example, Excel is not a collaborative tool and does not trigger alerts, your workbook will quickly become outdated, and the information will be wrong.
Another example, a library management software is too formatted for books, and is not flexible enough to add tools, computers or audiovisual material.
Make sure that the software you choose really meets your needs, depending on the sector in which you operate.
6.What features should you be looking for in your inventory management solution?
There are many features you can look for in your inventory management solution. In addition to ease of use and compatibility with other systems within your organization, there are two other things you should pay particular attention to:
Is your data protected against cyber threats and other attacks? Does the software include virus protection? How does it handle passwords? Are unauthorized users able to access sensitive information?
These are all questions you should ask yourself and your team before making the decision to purchase the inventory management solution you want.
How accurate is the software in tracking your inventory data? Does it keep track of all your products, or just some of them? (barcoding, tagging, scanning…) Are there ways in which it could cause inaccuracies?
The inventory management solution you choose must be compatible and adaptable to your current business processes.
Don’t put off your inventory management project, the status quo is your enemy in improving your processes. Take the time to establish your requirements and meet with our team to validate your inventory management project!
Meet with our team to discuss how Hector can help you with your project here.