Online Inventory Management Software
What is Inventory Management Software?
Inventory is the goods or materials a business keeps in the warehouse to sell to customers for profit. Inventory management software is a software 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. The following are some of the key functionalities that an inventory management system performs:
- Receive purchase order
- Pick, pack and ship sales
- Quoting and invoicing
- Returns management
- Reordering
- Serial number tracking
- Lot ID tracking
- Kitting/bundles
- Manufacturing — Bill of Materials (BOM)
- Label printing
- Customized data fields
- Sync invoices and bills to QuickBooks
Inventory Management Software Features
Inventory Item Definition
A product or item is what exists in the inventory management system. Usually, item code, description, selling cost, purchase price, discount, quantity, unit of measure, barcode and specification are the basic definition of an item that all inventory control system provides. Find more: inventory invoicing software
Unit of Measure
The unit of measure for items depends on the type of goods kept in warehouse. It is necessary the system should allow adding, removing, and editing units of measure according to the need.
Inventory Configurations
Inventory configurations may entails number of warehouse locations, enabling vendor catalog, changing of labels and others.
Inventory Stock Alert
It is important for businesses to get alerted when stock runs low for items. The stock threshold could be set up at a global level — that is one stock threshold for all items or individual item level. When the stock level goes below the threshold then alerts are generated where you can covert an alert to purchase order. This helps uninterrupted inventory operations.
Update Inventory from Sales Order Fulfillment
The ability to split an order to deliver items in multiple batches as well as merge multiple orders to one shipment is a very important feature for order fulfillment. This feature optimizes the complex fulfillment process.
Lot Tracking
Every use case does not require inventory tracking using lot numbers. But some business use case especially for pharma or cosmetic — it may be required. In such cases, you should make sure you have the ability to add inventory stock according to the batch number.
Bundle/Kitting
Inventory Item Bundling or Kitting is a process in which individually separate but related items are grouped, packaged, and sold together as one unit. For example, in ordering a PC online, a customer may select memory, drives, peripherals, and software from several alternatives. The supplier then creates a customized kit that is assembled and shipped as one unit.
API For Inventory
Datamoto supports APIs for inventory, sales orders, invoices, purchase orders, quote, and others. There is a limit to how many APIs can be called per day which can be adjusted according to the customer’s need. This is a very useful feature for e-Commerce.
Active and Archive Items
Sometimes, you may stop maintaining some of the items. For such items, you should able to archive them so that they will be kept aside from the view while you can still run the report on them. The system should provide the ability to view archived items and make them active if needed.
Warehouse Locations
Businesses’ operations often need to handle multiple warehouse locations. This means the warehouse management software must able to look up items across all warehouse locations, able to receive delivery or pickup from any locations, transfer stocks between locations. All the purchases and invoices must be able to track the items.
Image for Items
For e-Commerce, you may want to maintain multiple images for your items. Datamoto allows you to upload up to 3 images per item.
Manual Update of Stock
If you are managing a warehouse then you are familiar with that manual update of stock level is inevitable. Sometimes, items are misplaced, and other times it is hard to reconcile the actual count (or cycle count) and the count in the system. So, a manual update that can be audited is a required feature to run a warehouse smartly.
Update Inventory from Purchase Order Goods Receive
A good receive functionality allows you to record every good receive for POs and similarly, these received goods are automatically added to the inventory and recorded to a specific warehouse location.
Inventory Tracking
Inventory tracking is a large area that may include finding out the location of an item in the warehouse. But, here scope is limited and we are discussing tracking how your items’ stock level affecting. Who is adding items in the inventory, who is picking up the items from the inventory? Having an audit trail of every addition or subcontract of an item’s stock level is a must for an advanced inventory system. It should tell you which purchase order delivery added the stock and who was the item receiver.
Stock Transfer Between Warehouses
If you are a trader, distributor, wholesaler, or seller who maintains multiple warehouses then you may want to transfer inventory items from one warehouse to another. If you maintain batch or lot number then you may like to transfer items by lot and track the transfer. Transferring stocks between two warehouses is done through two separate transactions.
Bill of Materials
A bill of materials or product structure (sometimes bill of material, BOM, or associated list) is a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts, and quantities of each needed to manufacture an end product. An inventory management software with a bill of materials allows creating BoM for a product by adding items or raw materials and instruction notes. When products are produced these are added to the stock at hand whereas the stock levels of the items in the BoM are deducted.
Our Inventory Tracking Software
Help run your inventory efficiently.
INVENTORY – LOT TRACKING
Items kitting, bill of material, track item activities, set alerts for re-order, lot or batch tracking, multiple inventories, transfer between warehouses, link to sales and purchase orders
INVENTORY – LOT TRACKING
Items kitting, bill of material, track item activities, set alerts for re-order, lot or batch tracking, multiple inventories, transfer between warehouses, link to sales and purchase orders
BILL OF MATERIALS
An inventory management software with bill of materials allows creating BoM by adding items or raw materials and instruction notes. When items are produced these are added to the stock at hand whereas the stock level of the items in the BoM is deducted, more on Bill of Materials
PRODUCTION WORK ORDERS
Generate simple production work orders from the sales order for the manufacturing job. Automatically BoM information is transferred to work order. This helps production or assembly technicians to have complete information on the work order.
INVOICE & QUOTE
Create, track and manage quotes, invoices, and payments online. Handle export invoices, foreign currencies, generate PDF, and Email support. Customizable invoice. Integrated with Inventory and sales order system.
SALES ORDER
Create sales order, fulfill order (split or merge orders), packing list, handle return and cancel. Accept advance payment or Layaway. Automatic Quote to Order and Order to Invoice. Create and track purchases for every sales order.
PURCHASE ORDER
One-click purchase order creation for every sales order. Purchase orders can also be created from inventory alerts. You can manage purchases with budget control and multi-level approval. Receive delivery and generate bills. Process returns. Inventory to Purchase Order
CONTACTS & REMINDERS
Log all communications with customers and vendors. Set the reminders. Log these communications at document level or at customer/vendor level and optimize customer/vendor relationship.
PAYMENT & REPORT
Keep track of payments from your client and bill from your vendors. Many useful pre-built reports to check finances, inventories and operations.
AUTOMATE
Transform
Break through your limitations with the technology built specifically for distributors and manufacturers. A cloud based application built for 21st centuries companies.
Engage
Engage and inspire your customers by providing services that they deserve with efficiency.
Order
Datamoto online order life-cycle management software puts you in a faster path to recognize revenue, higher customer satisfaction and renewals.
Source
Leverage supplier and vendor relationships with complete visibility across the purchasing process.
Warehouse
Streamline your storage with deep metrics and inventory controls. Turn your warehouse faster.
Fulfill
Deliver on time, every time. Exceed your customers’ expectations while minimizing shipping costs.
Key Features of Cloud Based Inventory Management Software
Inventory invoice software is an important tool that enables businesses to minimize costs and optimize operations efficiently. It allows businesses to maintain items in multiple warehouses, receives and delivers items, track stock levels, maintains base prices for items, tracks purchase orders and invoices, kits or bundles items, creates bills of materials, and more. With cloud based inventory management software, you can monitor inventory in levels in real time, replenish inventory through stock alerts, and manage inventory in multiple warehouses.
- Multi-location Warehouses
- Inventory Invoice Software
- Inventory items’ mass price update
- Inventory Management Software with Purchase Order
- CRM with Inventory Management Software
- Bills of Materials Inventory Management
- Order Merging and Splitting in Inventory Invoice Software
- Dropship Inventory Management
- Automatically Generate Purchase Orders From Inventory Alerts
- Print Packing List and Invoice for Delivery
- Sales order to production work order
- Create Maintenance Work Orders
- Inventory Management Software for Small Business
Multi-location warehouses
Businesses’ operations often need to handle multiple warehouse locations. This means the inventory management software must able to lookup items across all warehouse locations, able to receive delivery or pickup from any locations, transfer stocks between locations. All the purchases and invoices must be able to track the inventory items. Datamoto inventory tracking system provides all the above functionalities. More on inventory transfer
Inventory Invoice Software
A CRM inventory invoice software system is a complete solution that provides order management such as estimates, invoices, and sales orders besides purchase orders. Inventory invoicing can be used for selling or purchasing. While selling, you can directly search inventory and create sales orders or invoices. Every item sold from inventory is tracked using invoices. Similarly, when you purchase goods from suppliers and receive the delivery, items are added to the inventory. The supplier sends the invoice. The supplier invoice is converted to a bill for payment. More on Datamoto sales order management
Inventory items’ mass price update
Often it is required that a seller wants to update the markup of the inventory items it sells. It is necessary to have an easy way to update the selling cost of all the items or some category of items in one click. This is a great solution that Datamoto CRM inventory tracking system provides.
Inventory Management Software with Purchase Order
It is a must that an inventory management software must have purchase order functionalities. You procure goods and receive them in your warehouse. When received, the items are added to the inventory and stock counts are increased. You should able to track where the items in the warehouse and which purchase order you used to procure them. Moreover, for field sales and service team, having procuring feature in the field service application greatly increase the productivity.
CRM with Inventory Management Software
CRM with inventory management provides all functionalities of CRM and inventory. CRM functionalities include client and vendor management, estimates, sales order, invoice, purchase orders, field sales and service, and communication with customers. With an integrated inventory tracking system with CRM, users will have complete access to all the functionalities. Datamoto’s CRM and inventory management are one integrated application. More on Datamoto CRM software
Bills of Materials Inventory Management
Bills of materials in manufacturing are a way to produce or assemble products. A product may contain multiple other items which are assembled together. A bill of materials clearly notes items and quantity that are needed and also instructions for plant operators to assemble or produce the product. Once an item is produced and added to the inventory, the items used to produce it are automatically deducted from the inventory.
Sales Order to Production Work Order
Usually, a sales order contains product, quantity, cost, and customer information. A sales order can be converted to production and pass them to the plant operator to manufacture the product. A production order will contain detailed information of the bills of materials including assembly or production instructions.
Order Merging and Splitting in Inventory Invoice Software
Datamoto CRM inventory invoice software provides a fulfillment process where you ship or fulfill the items ordered. It provides a very sophisticated yet simple fulfillment tool to fulfill orders such as: partially, splitting quantity per line item, combining (merging) multiple orders, and fulfill complete orders. When you fulfill an order, the Datamoto sales order management module searches the database and provides you a list of other sales orders from the same customer which are booked (or not completely shipped yet) and has the same shipping address. You can choose to complete fulfillment for all these sales orders in one fulfillment which will create only one shipment and generate one invoice. More on sales order fulfillment
Dropship Inventory Management
You get Dropship requests from a B2C company and you ship the order to the customers of the B2C company directly. To do so, in the packing list you must put the B2C company’s name in the from section since the end customer only knows the B2C company.
When you get a Dropship order, in Datamoto Dropship inventory management software you go to the sales order module, and click on “Create New Drop Ship for Supplier”. Select the customer. Change the Shipping address. The rest of the process is the same as any other sales order creation and fulfillment. When you fulfill this order, it will put B2C company as from address and actual client’s name and address in the Shipping and Billing in the packing list.
-
More on drop-ship order
Automatically Generate Purchase Orders From Inventory Alerts
It is important for businesses to get alerted when stock runs low for items. The stock threshold could be setup global level – that is one stock threshold for all items or individual item level. When the stock level goes below the threshold then alerts are generated with a purchase button for easy order. This helps uninterrupted inventory operations.
Create Maintenance Work Orders
In a manufacturing plant, it is normal to have planned or unplanned maintenance or servicing. A maintenance work order management software (CMMS) allows you to plan and create work orders, schedule and dispatch workers, and more in the manufacturing plant.
Print Packing List and Invoice for Delivery
Once the products are ready for delivery, the packing list needs to be printed along with the invoice for delivery. These are automatically generated and printed as the sales orders are fulfilled. This helps the manufacturing plant to ship goods as fast as possible.
Inventory Management Software for Small Business
Inventory management software for small business must contain functionalities that you can find usually in the ERP system. But for a small business, an inventory tracking system must be easy to use, maintain, cost effective and a cloud based or online solution. An inventory management software for small business must enable features like: multiple warehouses, stock transfer between warehouses, purchase order to procure and receive items in warehouse, purchase to invoice to pay the supplier, order management for quote and invoice to sell, and field sales and service. Datamoto provides these features in one product.
Pharmaceutical Supplier: How am I using Online Datamoto Inventory?
Robert Philmen
General Manager | Essential Medical Supply
Problem:
In the pharmaceutical industry, it is required to comply with the governments or manufacturers recalls. Tracking of every item purchased and sold by their lot (or batch) numbers is the must for recall. Robert was using an online software for order management which did not provide lot tracking. Also, he needed split order fulfillment functionality which was not available in the software. He wanted an ERP like system but cost and complexities are so high, his medium size company couldn’t afford it.
Solution:
“Datamoto helped us to migrate our existing data into their system. We migrated all our data within two weeks. Now we can generate recall reports instantly. Moreover, Datamoto is so easy to use and powerful, it has optimized our order management operations tremendously and increased the productivity”, says Robert. The following business processes are used to solve Robert’s problem:
- Customer and inventory data were extracted from existing system, reformatted and uploaded to Datamoto.
- Company logo, account number generation configuration, tax, shipping methods, payments terms, email templates, warehouses were all configured.
- Enabled the lot tracking.
- 30 users were added with various access rights such as purchase, sales, reports and so on.
- One hour remote training session for all users.
Frequently Asked Questions
Here are some commonly asked questions related to CRM and Inventory Management Management Software from Datamoto
Q1. What is the licensing model for Datamoto’s Inventory Invoice Software?
A. The inventory invoice software is licensed on a subscription model. Please check here.
Q2. How does my data in Datamoto CRM inventory management software system get managed?
A. Datamoto runs its CRM inventory management software platform and applications in the cloud. All the data are managed in the cloud by our IT staff.
Q3. Is my data in Datamoto Inventory Management Software Bill of Materials secure?
A. Yes, We take the complete backup of the inventory management software bill of materials on the regular basis. We have scalable network architecture, provision of disaster recovery & infrastructural facilities powered with the latest hardware and software.
Q4. Can I generate reports in Datamoto Inventory Invoice Software?
A. Datamoto inventory invoice software provides many reports for invoices, billing, accounting, and inventories. These are inbuilt reports. You can simply change the data range and get the report immediately.
Q5. Does CRM Inventory Management Software need a purchase order application?
A. Yes. Datamoto CRM inventory management software helps business processes involve buying raw materials, and parts to create or assemble a product. Inventory software comes with the purchase order system.
Q6. Does inventory management software bill of materials need a maintenance work order application?
A. Yes. An inventory management software bill of materials used in a plant needs to handle plant maintenance. To schedule and perform the maintenance, the plant needs a maintenance work order application.