We are living in a market economy where corporates and stores maintain their prices, inventories, and even customers based on human demands or the market’s demands. Thus, any goods that achieve a high demand will always have to be aware of the source shortages. Likewise, for any of those which is less attractive, corporations will store them for later use, forming inventories or stock, and there are hundreds if not millions of them, in both amount and types. Not any person or group of people can effectively handle and control all of the burdens. Hence, people leave it for computers, a system of stock management software Malaysia relies heavily on to maintain its infrastructures.
What is a stock management system?
Stock management software is an automated assistant system that supervises, calculates, and updates in real time about the condition of the stock. It tracks the inventory of every piece of goods you have and proceeds on making orders/reordering on out-of-stock items and calculating the price. As a result, supporting users to gain a statistical vision of stocks and fulfilling customers’ demands without overloading or underloading their inventories, thus, money.
Stock management software Malaysia has optimised this visible and automatic to lower the number of human workers, scale down the steps and avoid human errors. Moreover, for each industry or firm, there will be different stock management software dictated to their demands.
How does it work?
Most of the stock management software Malaysia is cloud-based, allowing for a smoother and more synergized operation. It comes under a monthly subscription with a software company that you are partnered with – the people with whom you buy your stock management software. Simply pick an outlet that meets a high standard of service and you can be care-freed about cybersecurity, IT staff employment, or managing the software, just click and use.
Some key features that you should consider when choosing a stock management software:
Point of sale integration: this integration with the user’s point of sale generates a selling and re-stocking cycle whenever a product is sold. No matter if it is from an online or offline outlet, every time an item is scanned or checked by the customer, the point of sale will update it back into the system in real-time and trigger the automated ordering system that helps to restock
Inventory catalog: this catalog will trace not only the types of products within your inventory but also categorize them by sizes, colors, and other distinguishing characteristics.
Automated reordering: this as mentioned above will automatically restock your inventory whenever a trigger signal is sent from the point of sale if it is in a low amount. All you have to do is set up a minimum and maximum quantity requirement and leave the rest to the system, it will keep the stock within the assigned levels.
E-commerce integrations: this system helps track your sales on all e-channels. This combined with automated reordering will safeguard your money and stocks.
Product cost analysis: it helps you predict and calculate restocking, machinery acquisition, and labor expenses before making transactions.