Inventory Management System
Inventory management software is a computer-based system for tracking inventory levels,
orders, sales and deliveries.
Inventory management software is a computer-based system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages.
It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets. It is often associated with and is similar to distribution software, as distributors that can compete with less cash tied up in inventories have a distinct advantage over their competitors.
Inventory management software is made up of several key components, all working together
to create a cohesive inventory for many organizations’ systems.