With increased online shopping and retail marketing, inventory management system has become the need of the hour. An online inventory management system is an organised and systematic process for controlling the inflow and outflow of our product in the organisation.
The maintenance and upkeep of our inventory are important to ensure that the right amount of inventory is available at the right time and in the right quantity.
As inventory management system has become more of a necessity for businesses and it is being widely used in a variety of industries from manufacturing to utilities, healthcare, education, government, and more.
These material management software have come a long way when it comes to the history of using the inventory system. Inventory in the earlier days was managed by a system known as BRTech system. These cards were read and updated once an inventory was moved from a location. Apart from these cards, books or registers were maintained to note these transactions and reports manually.
This system was quite basic and time consuming for the employees and had led to many human errors and product losses.
Next came the credit and debit card for inventory methods which were equally time consuming and prone to errors.
A new revolution was created with new online inventory management system software where intelligent applications manage the inventory, help in analysis, categorisation and to a large extend reduce human errors, product damage and theft.
