Must-Have Features In Inventory Management Software

1
Must-Have Features in Inventory Management
Software

• If you own an e-store, managing your inventory on
  the go is crucial. And an efficient Magento
  inventory management app for mobile or tablet can
  help you manage your inventory from anywhere.
• However, effective inventory management software
  is hard to choose due to a plethora of options
  available.
• Whenever you decide to invest in an inventory
  manager for your Magento e-store, ensure that it
  has the following effective functionalities.
• Functionalities of Effective Magento 2 order
  management
• Product Management

2

• As your business grows, the count of products
  also increases. So, effective product management
  becomes inevitable. So, it is better to pick an
  inventory manager that lets you add, remove or
  edit products details and their sources.
• Stock Management
• Stock management is an important aspect in
  inventory management.
• Your inventory management software or app should
  let you manage stock for every e-store in case
  you have multiple stores. It should also let you
  update the quantity of stock in real-time.
  Besides, it should also give you the freedom to
  assign and change sources (warehouses) for a
  particular stock.

• Multi-Store Support
• It is possible for your business to expand to
  more than one country. In
• that case, you may have to manage multiple
  stores. The multi-store support feature in your
  inventory app makes it possible to view sales
  orders, customers, stocks, etc. separately for
  each store view.
• Supplier Management
• When picking an inventory manager for your store,
  ensure that it has a
• separate section of Suppliers. In this section,
  you should be able to view your list of
  suppliers and products associated with every
  supplier.
• Moreover, it should let you add, disable or
  enable a supplier of a product(s). Every
  supplier should also be able to view purchase
  orders, create products or edit their details.
  These functionalities facilitate effective
  communication between you and suppliers.

• Purchase Order Management

3

• A continuous on-time supply of products from
  suppliers is the key to
• on-time deliveries to your customers. So, make
  sure that you are able to generate and manage
  purchase orders easily with your inventory
  management app. It should let you view all
  suppliers with whom you have placed purchase
  orders, their information, and the current status
  of your purchase orders. It should have features
  that let you update purchase orders manually,
  the status of a purchase order from Pending to
  Complete etc.
• These features will let you manage not only to
  purchase orders but also product quantities. As
  you can easily keep track of all products
  available in the stock.
• For instance, if a product goes out of stock and
  its purchase order is still pending, you can
  disable that product until it becomes available
  again.
• Interactive Reports and Charts
• Interactive charts and reports of your sales give
  you a better
• understanding of your business operations,
  customers and their behavior. So, always bear in
  mind that the inventory management software you
  pick gives you an insight into sales data.
• It should have reports like average items per
  order, most wish-listed item, best seller item
  with period filter (24 hours, a week, or a month,
  etc.), and country base sales orders.
• Customers Review Management
• Management of reviews on your site is also
  important. Unless you weed
• out spam reviews on your products, your reviews
  will fail to give true feedback about your
  products to your customers.

4

• So, make sure that the app you choose to manage
  inventory gives you control of reviews and lets
  you approve or disapprove a review before it
  goes live on your site.
• Notification Alerts
• Notifications are always necessary to update you
  about different
• activities. So, make sure your Magento inventory
  management software notifies you when a customer
  places an order, adds a review or your stock
  quantity goes below a threshold limit. This
  feature will help you stay updated about new
  orders and the status of stocks. And minimize
  the incidences of stock-outs and delayed
  deliveries.
• In a Nutshell
• Before investing in a Magento 2 inventory
  management extension, make sure it covers all
  the aspects of your business operations. Be it
  customer reviews, source management, purchase
  orders, stock or product management.
• It should help you keep an eye on your business
  no matter where you are.