When looking to purchase software for a small business management system, it’s best to have a comprehensive checklist for the inventory control needs of the business. Creating a checklist should be the first step to find the best computer system for the business and eliminate those systems that don’t meet business needs. It’s also important to have a system that is user friendly and easy to use.
Accounting and Inventory Management Software Interface
One important item for the checklist is to determine if an interface between accounting and the management system is needed. When inventory is sold, should the invoice be automatically posted to accounting? If this is an important requirement, what are some of the other attributes needed for accounting software? A separate checklist may be needed for small business accounting software as well.
Inventory Management Software Data Fields
When choosing a system there are certain data fields that are needed. The required data fields will depend largely on the business. How the data is extracted in reports may also be an important consideration. Some of the data fields that may be added to the list may include:
- Product code format
- Sources
- Product description
- Warehouse or bin locations
- Activity Status
- Sales History
- Various pricing fields
- Comments
- SKU or bar code
Inventory Management Software Physical Inventory Requirements
The software’s ability to adequately perform physical counts is an important consideration. Examine the method used to perform inventory counts. Some of the questions for the checklist might include:
- How are the count sheets structured?
- Does the system compare the before count to the after count?
- Will the system run a variance report to check for errors?
- Will the system report if inventory is counted in multiple locations?
Inventory System Ordering Criteria Ability
The software should be able to calculate stock orders based on sales activities. It should be flexible enough that the operator can adjust a day's supply calculation as needed. The system should be able to calculate a stocking level as well as reorder point. If the business creates special customer orders, the system should be able to track them efficiently.
Inventory Control Activities and Transactions
The system should be able to easily display needed information, like pricing, on hand quantity, various order information, bin locations and so on. Another consideration is how much sales history should be retained. The system should also have the ability to display all inventory transaction activities for a given period.
Some of these recommendations for a checklist are generalities. There may be other considerations that may be unique to a particular business. One of the most important aspects of a inventory control software system is to find an all-encompassing comprehensive system. Look for a system with a minimal amount of human interaction that allows password security protection by function.
James Clausen - Clausen received a Bachelors Degree in Business Administration in Automotive Management and Marketing at Northwood University, graduating ...
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