Importance of Electronic Inventory Management in Supply Chain and Manufacturing Operations
Whether its a worldwide corporation or a 5 person startup, a modern system of inventory management has become a crucial factor in determining long term success. With no electronic aid, the tracking of inventory becomes nothing more than a hassle; often wasting time, money and resources. In the industrial sector we have experienced that adaption to a modern, inventory management software has been shown to significantly increases both profitability and efficiency.
In the fast paced work environment of supply chain and manufacturing operations, inaccurate inventory can result in bleak consequences. As human error is the central cause of inventory management miscalculations, more and more organizations are switching to a software assistant.
Key Components of an Advanced IMS
A successful organization runs on efficiency from ground up. A top notch inventory tracking system weaves that efficiency in beginning to end. From real time visibility to increased time management, a software aid strengthens an operation from the inside out. Incorporating an inventory management system (IMS) provides a network of up to date information in a simple and reliable way. An efficient IMS software will include:
- Visibility throughout a facility: Real time tracking gives minute to minute updates on quantity, status and history.
- Location assignment: An inventory management software provides location updates to combat lost inventory.
- Flexibility: IMS allows for free mobility. This gives operators the ability to complete multiple tasks at once as well as allows for inventory adjustments.
- Integration with other 3rd party software: IMS software is easily paired and supported by other modules.
- Alerts for min/max inventory: IMS is programmed to notify employees when an incorrect proportion of commodities is observed.
Installation of an advanced IMS
software is directly linked to improvements in time management. Within supply chains and manufacturing operations, misplaced time can often result in lost profit. However, with an enhanced level of organization brought by optimization of production, supply chains and manufactures will begin to see a reduction of down time. An effective inventory management system directly decreases system halts by providing a software that quickly records needed information of products. An upgraded inventory management software insures a system that utilizes the value of time.
Insequence’s IMS
As a company grows, as does the demand for an increase of inventory organization and traceability. Insequence’s IMS software fosters expansion by providing customers with a systemic method beginning to end. Our top of the line inventory management system not only includes the points listed above but also minute to minute updates, bar-code scanning, and a more efficient put-away/receiving method.
To learn more about how Insequence can help your inventory management, click here.
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