Simply put, an inventory control system is a software that aims to automate the basic processes associated with tracking goods in a warehouse from the moment they arrive at the warehouse or other place of business until they leave.
Historically, the sole purpose of inventory systems, which mostly looked like simple spreadsheets, was to organize and store inventory data on a regular basis. But new technology has opened the door to more possibilities. Modern inventory software is not limited to gathering information about products offered for sale. You can browse www.cin7.com/features/inventory-management/ to get inventory management system.
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A warehouse management system can be set up as a stand-alone solution or as part of another, more comprehensive logistics system, such as a warehouse management system or supply chain management (SCM) software. Both options have their pros and cons, so the choice must take into account the specific business needs of the organization.
Types of inventory management software
Warehouse Management System (WIMS)
As the name suggests, this type of inventory software solution is used by logistics companies to manage warehouse operations. Since warehouses only provide warehouse services and do not store inventory, the main goal of WIMS is to ensure that all items can be found quickly.
Manufacturing inventory management system (MIMS)
Manufacturers need an inventory system to store raw materials and finished products. Therefore, the main role of any MIMS is to help plant managers maintain a balance of both levels of inventory so that the production process runs smoothly and sustainably.