Small manufacturers are typically transferring over from pen and paper to a more automated system and only need basic inventory control functions such as order processing and lot/serial tracking.
These buyers have straightforward requirements and need a system to improve data entry and inventory tracking. For manufacturers with international operations, the system should include multi-currency and multi-language support. These buyers need to track inventory for multiple facilities and balance levels across a geographic region. Operating multiple facilities adds a layer of complexity to the software requirements. For instance, a full-suite system can manage inventory picking, product assembly and invoicing from a single source. Having a single system control all manufacturing functions improves information sharing between applications. These buyers appreciate the integration that a solution from a single provider offers. More than 90 percent of buyers typically fall into one of these three categories:įull-suite buyers.
Inventory management systems can also track purchase orders and other value information that is helpful for accounting.īefore deciding on which system best fits your needs, it’s important to determine what type of buyer you are. Many systems have barcode, or radio frequency identification (RFID), functionality to scan items that are received, picked or transferred. Inventory management solutions use these numbers to track and locate in-stock items and produce picking information for item retrieval.
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Most inventory systems will track purchased material and stocked items by lot number and/or serial number. In addition to tracking raw materials and stocked items, the system also records work-in-progress (WIP) items, finished products and more. The systems allow manufacturers to instantly determine on-hand inventory balances, which is useful for financial planning. Inventory management software helps optimize supply levels so manufacturers always have what they need as orders are placed, without tying up capital in excess parts or ingredients. What Is Manufacturing Inventory Management Software? This buyer’s guide, along with our manufacturing inventory software reviews, cover the essential information needed to make a purchase. For this reason, there are more than 100 vendors that offer some form of manufacturing inventory management software. Manufacturing inventory software, sometimes referred to as manufacturing inventory control software, is one of the more traditional manufacturing applications. Maintaining tight control over inventory is crucial for manufacturers operating in modern manufacturing environments where stock is kept at a minimum and orders are filled just in time (JIT).
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