If you run a business, then managing your inventory is likely one of your top priorities. It can be difficult to keep track of everything when you have products coming in and going out all the time. That’s where integrated inventory management comes in. This type of software integrates with your other business systems, making it easier to keep track of your inventory and make sure you never run out of stock. In this blog post, we will discuss what integrated inventory management is and list 10 important integrations that you should consider for your business.
What is Inventory Management Integration?
Integrated inventory management is a type of software that connects with other business systems to improve the overall process of tracking and managing your inventory. This type of software allows you to quickly and easily view your entire inventory in real time, giving you an up-to-date look at what products you have and how many. This helps streamline the ordering process, so you can quickly order new stock when needed.
Why is it So Essential?
Integrated inventory management is essential for businesses that have multiple locations or offer their products on several different sales channels. Having an integrated system allows you to keep track of all of your inventory in one place, instead of having to check each one individually.
Also, inventory management integration with other business systems also gives you the visibility and traceability to better manage your operations, supply chain and other functions like accounting and customer relationships. This gives you the flexibility to grow and scale your business as needed.
10 Important Inventory Management Integrations to Inspire You
We’ve put together 10 of the most important integrations that you should consider when it comes to your inventory management:
1. Point-of-Sale software
When you have a physical store, point-of-sale (POS) software makes it easier to keep track of all transactions and update your inventory in real time. This is especially important for businesses that sell items in-store and online. Good examples of POS software include Square, Lightspeed POS, and Vend.
2. eCommerce platform
When you sell products online, it’s important to have an e-commerce platform that is integrated with your inventory management system. This will make it easier for customers to view your available items and easily check out. It will also help you reach out to more customers because you can list your products on multiple online marketplaces. Popular e-commerce platforms include Shopify, SkuVault, BigCommerce, and WooCommerce.
3. Shipping software
If you want to own the competition, then you need to deliver your goods accurately, swiftly and on time. If you ship products from your warehouse, then shipping software can help you with this, along with helping you to keep track of everything that goes out the door. This type of software helps you to manage orders, print labels, and keep customers up-to-date on their orders. Popular shipping software includes ShipStation, Shippo, and EasyPost.
4. Shopping cart software
If you want to give customers the option of purchasing multiple items at once, then shopping cart software can be a great addition. This type of software is integrated with your inventory management system so that you can keep track of what’s in stock and update customers on their orders in real-time. Notable shopping cart software includes FoxyCart, Shopify Cart, and Bigcommerce.
5. Warehouse Management System (WMS)
If you have an onsite warehouse or are a product-based business, then you may want to consider a warehouse management system. This type of software helps you keep track of goods and materials that come into your facility and allows you to easily manage shipments and deliveries. Good examples include SAP EWM, Oracle WCS, and Bizom WMS.
6. Mobile Apps
Mobile apps for inventory management are becoming increasingly popular. Having one that allows you to manage your inventory on the go is essential for businesses with multiple locations and/or multiple sales channels. With an app, you can check your stock levels from anywhere, making sure you don’t run out of products or overstock any items and giving you more flexibility and control over your business. Apps like N41 ERP and inFlow Inventory are great options for businesses that need a mobile inventory solution.
7. CRM software
CRM software has become essential for businesses of all sizes, as it helps you to manage relationships and customer data. When integrated with your inventory management system, it can help you to ensure that orders are fulfilled quickly, customers get accurate information on their order status, and deliveries are made on time. Popular CRMs include Salesforce, Zoho CRM, and HubSpot.
8. Marketplace integrations
If you’re looking to expand your reach and get seen by more customers, then marketplace integration is a great way to do that. This type of integration allows you to list your products on multiple online marketplaces like Amazon, eBay, and Walmart. This helps you reach more customers and get more sales, while still being able to keep track of your inventory in real time. Notable examples are ChannelAdvisor, SellerActive, and EcommHub.
9. ERP solutions
Enterprise Resource Planning (ERP) Solutions are comprehensive systems that integrate several business processes. Features of an ERP system include inventory management, financial management, customer relationship management (CRM), order processing, and more. These solutions can help businesses streamline operations and increase efficiency while providing a single unified platform to manage business processes. Popular ERP solutions include N41, Microsoft Dynamics GP, Oracle EBS, and SAP Business One.
10. Accounting Software
Having an integrated accounting system is essential for businesses that need to keep track of their finances, as well as their inventory. This type of software will help you stay on top of all of your finances, keep all your financial records organized and make sure that everything is accounted for. Popular examples include QuickBooks, Sage 50, and Xero.
Manage Your Inventory and Business Processes More Efficiently with N41
Integrated inventory management is essential for businesses that want to save time, money, and resources while staying organized and efficient. By integrating the right solutions into their inventory management system, businesses can ensure that they are prepared to tackle any situation that may arise. With N41’s integrated inventory management system, you can easily sync up with the aforementioned applications and streamline your business operations.
Make sure to check out our blog for more great insights and tips on inventory management. And if you’re interested in learning even more about how integrated inventory management can help your business, contact us at (213) 738‐1010 or schedule a demo to get started. We look forward to hearing from you!