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You’re in charge of inventory management. How can you find the best software for your supply chain?

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Inventory management is a crucial part of any supply chain, as it affects the availability, quality, and cost of the products you sell. But how do you choose the right software to help you manage your inventory effectively and efficiently? In this article, we'll guide you through some key steps and factors to consider when looking for the best inventory management software for your business.

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Charu Thomas

Founder @Ox | Forbes 30 Under 30

1 Assess your needs

Before you start browsing for software options, you need to have a clear idea of what you want to achieve with your inventory management system. What are the main challenges and goals of your supply chain? How do you measure your inventory performance? What features and functions do you need to support your processes and workflows? How much are you willing to invest in software development and maintenance? By answering these questions, you can define your requirements and priorities, and narrow down your search criteria.

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Charu Thomas

Founder @Ox | Forbes 30 Under 30
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Starting with the end in mind is the key to success. Key considerations include: timeline, cost (capex +opex), flexibility, metrics re: performance.

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2 Compare different solutions

Once you have a list of your needs, you can start comparing different software solutions that match them. There are many types of inventory management software available, such as cloud-based, on-premise, or hybrid; standalone, integrated, or modular; industry-specific, or general-purpose. You can use online platforms, reviews, demos, or free trials to evaluate the pros and cons of each solution, and see how they fit your budget, security, scalability, and usability expectations.

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Gary Gabriel Garcia Cruz

Consultor de proyectos de TI en Vegostart | Consultor de Sistemas WMS - SGA, Sistemas de gestión de almacenes | Inventarios.
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En la búsqueda de proveedores de software, la experiencia en implementaciones similares es importante. Si bien no es un requisito absoluto, es un punto a favor que el proveedor cuente con antecedentes en un rubros similares. ?Por qué es importante? Porque nos permite no solo buscar un software funcional, sino el de lograr encontrar un proveedor que ya entiende el negocio, aporte con sus experiencias y pueda adaptarse a los requerimientos más rápidamente.

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3 Check the compatibility

Another important factor to consider when choosing inventory management software is how well it integrates with your existing systems and tools. You want to avoid software that causes compatibility issues, data silos, or duplication of work. Instead, you want to look for software that connects seamlessly with your enterprise resource planning (ERP), accounting, e-commerce, point of sale (POS), warehouse management (WMS), or other systems that you use to run your business. This way, you can ensure data accuracy, visibility, and synchronization across your supply chain.

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Charu Thomas

Founder @Ox | Forbes 30 Under 30
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Inventory management systems impact the core infrastructure of your business - which implies that a poor decision can have far-reaching impacts. Systems must be able to communicate in realtime or near-realtime. It is important to consider data transfer methodology (FTP, REST/SOAP/ODATA API, Sockets, Direct DB Connection, RFC Message Bus, etc) and network configuration constraints (VPN, Virtual Machine, Reverse Proxy, Whitelisting, etc).

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4 Test the functionality

Before you make a final decision, you should test the functionality and performance of the software that you are interested in. You can do this by requesting a live demo, a proof of concept, or a pilot project from the software vendor or provider. This will allow you to see how the software works in real-time, with your own data and scenarios. You can also ask for feedback from your staff, customers, and suppliers, who will be using or affected by the software. This will help you identify any gaps, glitches, or improvements that need to be addressed.

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5 Evaluate the support

The last step in finding the best inventory management software for your supply chain is to evaluate the level and quality of support that you will receive from the software vendor or provider. You want to choose a software that comes with reliable and responsive technical support, training, documentation, and updates. You also want to check the reputation and credibility of the vendor or provider, and their customer satisfaction and retention rates. You can do this by reading testimonials, case studies, or references from other users or clients.

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Charu Thomas

Founder @Ox | Forbes 30 Under 30
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We have found that our customers and operators are the best advocates for Human Centered Automation. If I was in my customer's shoes, I would ask for references and case studies prior to engaging in pilot or proof of concept projects.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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You’re in charge of inventory management. How can you find the best software for your supply chain?

1

2

3

4

5

6

1 Assess your needs

2 Compare different solutions

3 Check the compatibility

4 Test the functionality

5 Evaluate the support

6 Here’s what else to consider

Inventory Management

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You’re in charge of inventory management. How can you find the best software for your supply chain?

1

2

3

4

5

6

1 Assess your needs

2 Compare different solutions

3 Check the compatibility

4 Test the functionality

5 Evaluate the support

6 Here’s what else to consider

Inventory Management

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