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You're in charge of inventory management. How do you choose the most reliable software for your business?

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Inventory management is a crucial aspect of logistics management, as it affects the availability, quality, and cost of your products. However, managing inventory manually can be time-consuming, error-prone, and inefficient. That's why you need to choose the most reliable software for your business, one that can automate, optimize, and simplify your inventory processes. But how do you find the best software for your needs? Here are some tips to help you make an informed decision.

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Thiago Lima

Director | Doctor in Business Administration | Professor in Executive Programs l Lean Six Sigma Black Belt | Certified…
Douglas Souza

Logística | E-commerce | Fulfillment
Efrata Denny

My new book 'L.E.A.D.S. in Supply Chain Leadership' is now LIVE. Grab your copy here??

1 Assess your inventory challenges

Before you start looking for software, you need to identify the specific problems and goals that you have with your inventory management. For example, do you struggle with overstocking or understocking, inaccurate forecasting, slow inventory turnover, or poor customer service? Do you want to reduce inventory costs, improve inventory visibility, or integrate with other systems? By defining your inventory challenges, you can narrow down your software options and prioritize the features and functions that matter most to you.

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Thiago Lima

Director | Doctor in Business Administration | Professor in Executive Programs l Lean Six Sigma Black Belt | Certified International Advanced Procurement Professional
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Para escolher um software de gest?o de inventário confiável, avalie primeiramente as necessidades do seu negócio, como tamanho do inventário e recursos específicos necessários. Pesquise e compare op??es de software, considerando características, escalabilidade, interface do usuário e compatibilidade com sistemas existentes. Priorize aqueles com bom suporte ao cliente e histórico confiável. Experimente softwares que ofere?am período de teste para avaliar sua funcionalidade no seu ambiente de negócios. Consulte avalia??es e feedbacks de empresas similares para uma escolha bem-informada que otimize opera??es e melhore a eficiência.

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Douglas Souza

Logística | E-commerce | Fulfillment
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dentifique os desafios específicos que sua opera??o de estoque enfrenta, como controle de estoque, rastreamento de produtos ou preven??o de perdas. Considere se o software pode abordar eficientemente esses desafios e se integra-se às suas práticas operacionais existentes.

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Efrata Denny

My new book 'L.E.A.D.S. in Supply Chain Leadership' is now LIVE. Grab your copy here??
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Start by conducting a thorough assessment of your inventory management challenges. Identify specific pain points, such as inaccurate stock levels, order fulfillment delays, or difficulties in tracking items across the supply chain. Understanding your unique challenges provides a clear foundation for selecting inventory management software that addresses your specific needs.

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Sean Rutherford
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In retail understanding your inventory challenges is key to formulating a solution. There can be many issues; too much, too little, poor sizing distribution within locations compared to customer demand, timelines of product types vs the season, etc. Getting out to walk your locations, engaging with store associates and seeing products in your stores all can help you on the road to a solution that will help you achieve your inventory productivity goals.

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Alejandro Guzman

Gerente Comercial at Tecnogruas Ltda
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Identifying, together with the work team, the bottlenecks of the process, both from the point of view of work complexity, as well as the time and practicality required. Today our organization's need for data is fundamental, but if you do not use the correct tools that integrate, optimize and facilitate processes, the information we finally have may not be accurate.

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2 Compare different software types

Inventory management software comes in different types, each offering its own advantages and disadvantages. Spreadsheet-based software is the simplest and cheapest option, but it is also the most limited and risky since you must manually enter and update the information, which can lead to errors, inconsistencies, and security issues. Desktop-based software is a more advanced and secure option, however it is also more expensive and less flexible as you must maintain and update the software yourself and can only access it from a specific location or device. Cloud-based software is the most modern and popular option as it provides the best balance of cost, functionality, and accessibility. With this type of software, you can use a web-based platform or app to manage your inventory data which is stored remotely. You can access the software from any location or device with an internet connection, as well as benefit from automatic backups, updates, and support.

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Douglas Souza

Logística | E-commerce | Fulfillment
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Avalie diferentes tipos de software de gest?o de estoque, incluindo sistemas independentes, módulos em sistemas ERP (Enterprise Resource Planning) e solu??es baseadas em nuvem. Considere a escalabilidade, a personaliza??o e a facilidade de integra??o com outros sistemas.

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Efrata Denny

My new book 'L.E.A.D.S. in Supply Chain Leadership' is now LIVE. Grab your copy here??
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There are various types of inventory management software available, ranging from basic systems to more advanced and specialized solutions. Compare the options, including standalone inventory management software, integrated enterprise resource planning (ERP) systems, and industry-specific solutions. Consider the scale and complexity of your business to determine which type aligns best with your requirements.

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Calebe E. R.

Especialista em Logística e Supply Chain Management | Especialista em Engenharia da Qualidade | Lean Six Sigma Black Belt | Almoxarifado | Eficiência Logística | Rotinas Logísticas
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Considere software de gerenciamento de estoque dedicado, ERPs (Enterprise Resource Planning) com módulos de estoque e solu??es baseadas em nuvem

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Joseph Kelley, MBA

?? Innovative Public Works Supervisor | ?? MBA | ??? Infrastructure & Operations Optimization | ?? Championing Data-Driven Solutions for Community Impact
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Juggling inventory as a startup can feel daunting, but affordable solutions exist! Here's a strategic guide for budget-conscious entrepreneurs: Spreadsheets:While prone to errors, they offer basic tracking and collaboration (Google Sheets). Kanban Boards:Trello or Asana can visually track inventory stages (e.g., "in stock," "shipped"). Budget-Friendly Software: Mobile Apps: Inventory Hero, Zoho Inventory App, or Stockpile offer affordable mobile solutions for barcode scanning, on-the-go tracking, and basic reporting. Cloud-Based Software:Explore freemium options like Airtable or Monday.com with limited features for free, and upgrade as needed. Consider pay-as-you-go plans or limited user tiers.

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Danilo Ferreira Da Concei??o Martins

Implementation Analyst | Projects | Logistics | Transport | Planning | Costs | KPI | Control Tower | WMS | ERP | TMS | Power BI | IA
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Para escolher o software de gerenciamento de estoque ideal, avalie suas necessidades, pesquise op??es, priorize a confiabilidade, teste e avalie, além de monitorar e fazer ajustes quando necessário. Revise periodicamente sua escolha.

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3 Evaluate software features and functions

Once you have chosen the type of software that suits your needs, you need to compare the specific features and functions that different software providers offer. It's essential to look for features such as inventory tracking, optimization, reporting, and integration. Inventory tracking should be able to track your inventory levels, locations, movements, and statuses in real time with barcode scanning, RFID tags, or serial numbers. Inventory optimization should help you optimize your inventory performance with demand forecasting, reorder points, safety stock, or ABC analysis. Inventory reporting should be able to generate and analyze various inventory reports such as inventory turnover, valuation, aging, or accuracy. Lastly, inventory integration should be able to integrate with other systems such as accounting, sales, purchasing, or warehouse management.

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Douglas Souza

Logística | E-commerce | Fulfillment
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Liste os recursos essenciais que sua empresa precisa, como rastreamento em tempo real, relatórios analíticos, previs?o de demanda e reabastecimento automático. Certifique-se de que o software atenda às necessidades presentes e futuras do seu negócio.

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Efrata Denny

My new book 'L.E.A.D.S. in Supply Chain Leadership' is now LIVE. Grab your copy here??
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Create a comprehensive list of features and functions that are crucial for your inventory management needs. This may include real-time tracking, demand forecasting, order management, reporting and analytics, barcode scanning, and integration capabilities with other business systems. Prioritize these features based on their relevance to your specific operational requirements.

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Eduardo José Delgado Flores

Supply Chain Management | Logistics | International Business Operations | 3PL & 4PL | Lean - Six Sigma | Cold Chain
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Since every operation is different and each one has it’s own peculiarities, evaluating the functions and capabilities of the software options we could implement is a crucial component for our operational success. The adaptability of this software to our specific needs will determine how secure, effective and efficient we can be to respond to our customers and new challenges. In this topic we have to consider that being flexible in the services we provide is an aspect that everyday is more important and cherished by clients worldwide.

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Pablo Boix Ruiz

Gerente Unidad de Negocio Supply Chain e Industria 4.0 leading in Supply Chain Innovation at L?berit
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Los módulos proporcionados por la misma marca del ERP tiene la ventaja de que estará bien integrado al ser del mismo fabricante. Los software de otros fabricantes puede tener algún tipo de dificultad y coste de implementación. Pero es importante tener en cuenta que el éxito de una implantación depende a partes iguales de tres cosas: El software, el implantador y nuestras especificaciones y dirección. Supongamos que hemos hecho un buen análisis de requerimientos, y que el software es adecuado para nuestro alcance. Pero un implantador sin experiencia en logística de almacenes puede llevar al fracaso o a una implantación mínima el proyecto. Y esto ocurre a veces con implantadores cuyo core es el ERP, especialmente la parte financiera del ERP.

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FREDERICK Y.

Warehouse Operations & Logistics Professional | SAP ERP, Six Sigma
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Ensure the software integrates seamlessly with your existing systems, such as accounting software, e-commerce platforms, and point-of-sale (POS) systems. Compatibility reduces data entry errors and streamlines overall operations.

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4 Test software usability and reliability

Finally, you need to test the usability and reliability of the software that you are considering, by requesting a demo, a trial, or a reference from the software provider. When assessing the software, consider its usability - is it easy to use, navigate, and customize? Does it have a user-friendly interface and clear instructions? Is there helpful support available? Additionally, check its reliability - is it secure and scalable? Does it have a high uptime and low downtime? Are there strong data protection measures in place? Furthermore, examine the customer service offered by the software provider - is their staff responsive, knowledgeable, and friendly? Are there various channels of communication available?

Choosing the most reliable software for your inventory management is not an easy task; however, investing in quality software can improve your logistics efficiency, profitability, and competitiveness. By following these tips you can find the best software for your business and take your inventory management to the next level.

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Douglas Souza

Logística | E-commerce | Fulfillment
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Realize testes práticos do software para avaliar a usabilidade, a interface e a facilidade de aprendizado. Investigue a confiabilidade do software, verificando a estabilidade do sistema, a seguran?a dos dados e a capacidade de recupera??o em caso de falhas.

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Efrata Denny

My new book 'L.E.A.D.S. in Supply Chain Leadership' is now LIVE. Grab your copy here??
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Before making a final decision, conduct hands-on testing of the shortlisted inventory management software. Evaluate the usability of the interface to ensure it is intuitive and easy for your team to navigate. Test the reliability of the software by inputting sample data and simulating various scenarios to see how well it handles different aspects of inventory management.

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Matheus M.

Operador Logístico III na Cervejaria Cidade Imperial | Engenheiro Mecanico | Pós-graduado em Logística | Green Belt 6 Sigma
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Implemente testes de unidade, integra??o e sistema para garantir o funcionamento correto do software em todas as suas partes. Utilize métricas como taxas de erro, tempo de resposta e satisfa??o do usuário para uma avalia??o abrangente.

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Calebe E. R.

Especialista em Logística e Supply Chain Management | Especialista em Engenharia da Qualidade | Lean Six Sigma Black Belt | Almoxarifado | Eficiência Logística | Rotinas Logísticas
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Realize testes práticos para garantir que o software seja intuitivo para seus usuários e ofere?a confiabilidade operacional.

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Pablo Boix Ruiz

Gerente Unidad de Negocio Supply Chain e Industria 4.0 leading in Supply Chain Innovation at L?berit
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La proximidad del proveedor es importante. Pero hoy en día no necesitamos que esté en la misma ciudad. Una de las medidas de proximidad actualmente podría ser que el equipo de soporte sea un equipo reducido para mi empresa, un equipo al que pueda conocer por el nombre. Lo contrario sería llamar a un pool de soporte donde trabajan cientos de personas que no conocen mi empresa y su problemática especial.

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5 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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Douglas Souza

Logística | E-commerce | Fulfillment
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Analise as op??es de suporte e treinamento oferecidas pelo fornecedor do software, garantindo que sua equipe esteja devidamente capacitada. Considere a integra??o do software com dispositivos móveis para facilitar a gest?o de estoque em diferentes locais. Esteja atento à escalabilidade do software, assegurando que ele possa crescer junto com o seu negócio.

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Efrata Denny

My new book 'L.E.A.D.S. in Supply Chain Leadership' is now LIVE. Grab your copy here??
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Scalability: Choose inventory management software that can scale with your business. As your inventory and operational needs grow, the software should be adaptable to accommodate increased demand. Integration Capabilities: Assess the software's ability to integrate with other critical business systems, such as accounting software, order processing, or customer relationship management (CRM) systems. Seamless integration enhances overall efficiency. Cloud-Based vs. On-Premises: Decide whether a cloud-based or on-premises solution is more suitable for your business. Cloud-based solutions offer flexibility and accessibility, while on-premises solutions may provide greater control over data security.

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Ameer VM

Head of Logistics | Supply Chain Management | Talks about #End to End supply chain #International Logistics #Cross Trade #Process Improvement #ERP implementations #GAP analysis #MEA
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When selecting inventory management software, focus on features, scalability, user-friendliness, integration capabilities, customization options, security, customer support, and cost. Test demos or trials, seek recommendations, and consider long-term needs for the best choice.

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Steve Barton

Business Development Specialist @ KWI | New Business Development, Omnichannel Process Improvement
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Today customer expectations are higher than ever, margins are tighter than ever, and the world is watching. So your retail strategy can’t afford to be anything less than extraordinary. 75% of consumers are more likely to buy from a retailer that recognizes them by name, recommends options based on past purchases, or knows their purchase history Retailers need innovative features that foster strong customer rapport and enable comprehensive inventory management. Robust CRM functionalities support repeat, high-value sales and provide real-time inventory visibility to maintain control over our diverse and valuable inventory for an "endless aisle" experience for our discerning clientele.

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Daniel Espinoza Saavedra

Gerente de Operaciones | Logística | Supply Chain | S&OP | Abastecimiento
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Hola a todos, muchas veces pensamos en conseguir la mejor herramienta, y está bien; pero también hay que pensar como la íntegro correctamente y que puede pasar en este proceso (implementación) Pensar en cambiar de WMS, dependiendo de la manera que lo hagas; es como hacer un trasplante de corazón, es un tremendo esfuerzo y pones en riesgo la operación. No sobreestimes tu entusiasmo o el de tu equipo. El manejo de inventario es lo más importante, demorar unas semanas más en la evaluación, preparación y/o análisis. Siempre será mejor. Dependiendo de las características de tu empresa. Nunca descartes la antigua pregunta, que para algunos es un tabú hacerla; ?Qué significa y cuanto nos cuesta en el largo plazo si lo desarrollamos nosotros…?

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You're in charge of inventory management. How do you choose the most reliable software for your business?

1

2

3

4

5

1 Assess your inventory challenges

2 Compare different software types

3 Evaluate software features and functions

4 Test software usability and reliability

5 Here’s what else to consider

Logistics Management

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You're in charge of inventory management. How do you choose the most reliable software for your business?

1

2

3

4

5

1 Assess your inventory challenges

2 Compare different software types

3 Evaluate software features and functions

4 Test software usability and reliability

5 Here’s what else to consider

Logistics Management

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