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Inventory Management Software

Take control of your company’s inventory while meeting the increasing needs of your customers by purchasing the best inventory management software you can afford. In the past the emphasis when it came to inventory management software was on the “buy-hold-sell” model but today the trend is towards the “sell-source-ship” model.

Before you set out on your inventory management software selection process you should take into consideration these four specific items to do with the purchase- the inventory management software costs, the functions, the integration and the maintenance. Let’s take a brief look at each one of these items.

The cost threshold for inventory management software is often the first thing that has to be taken under advisement as well as what sort of budget your business has for spending. Knowing these two things goes a long way in helping to make an informed decision as inventory management software can range in price, anywhere from virtually free to hundreds of dollars and even into the thousands or in the most high end cases, the millions.

The second item to consider before selecting inventory management software is the type of functions you will be requiring of the program you choose to operate. Is it a very simple set up or terribly complex and involved? The programs used to run inventory management software can provide a number of different functions such as making note of the inventory your company has in stock and where it can be found, to more elaborate functions such as predicting what the future will hold for your company inventory wise. Some systems use such things as neural network data in the form of weather forecasts and so on to make predictions.

The third item to consider is how much integration (if any) will take place between the inventory management software you plan to introduce and other systems (simple or complex) within the company structure. A variety of systems are available, everything from systems that stand alone to more elaborately constructed and more expensive systems of integration.

Finally, the fourth factor to consider in this entire decision making scenario is the funds your company has available for both the operation and maintenance of the system of inventory management software. In order to guarantee the highest level of accuracy and function the more complex systems require operators of the utmost skill and competence level. This therefore entails a larger budget be put into effect as operators don’t come cheap.

Strategos, Inc. brings a unique global perspective to Lean Manufacturing Strategy consulting.

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