What are the meaning of stock taking?

Stock taking is a mandatory stage of the company before distributing their products. This process is important to avoid data errors in the inventory record. The function of stock taking is to avoid errors in recording and calculation due to the items missed. This involves identifying each item present, counting it and summing up that amount per item. There may also be a verification step, where the count results are compared to the number of inventory units in the company's computer system. Inventory is a common requirement of periodic inventory systems and may also be required as part of a company's annual audit. In short, inventory management software produces a summary level document that lists the quantities in stock for each inventory item at a given time. This is a very laborious process and can require significant downtime in the warehouse, so companies generally try to avoid stockpiling as much as possible.

What are the features of inventory management software from HashMicro?

Features in the inventory management software include stock aging analysis, fast slow, and non-moving analysis, stock request management, inventory valuation, 3d warehouse with color by capacity by-products, reordering rules run rate, racking management, removal and putaway strategy, and also multi UOM. Stock and pricing data integrating with accounting and invoicing systems. All the systems draw on the same set of data, so you only have to input the data once. Sales Order Processing and Purchase Order Processing can be integrated in the system so that stock balances and statistics are automatically updated as orders are processed. There are also automatic stock monitoring feature, triggering orders when the re-order level is reached, automatic batch control if you produce goods in batches, identifying the cheapest and fastest suppliers, bar coding systems which speed up processing and recording.

Why is the inventory management software needed by companies?

Manual inventory management will make it difficult for the company to measure the efficiency of their warehouse management. That is why companies need inventory apps, as it can make it easier for companies to manage inventory to be more effective and efficient. Inventory software also allows companies to automate the stock taking process. This will eliminate the recording and calculation errors before the product is sold. It can also help you manage sudden changes in demand without sacrificing customer experience or product quality. This is especially important for brands looking to become a more customer-centric organization. Besides that, the goal of inventory control is to prevent the accumulation of dead stocks that are not being used. Doing so can help prevent the company from wasting its resources and space.

Fully-Featured Inventory Management System to Manage Thousand Inventories with Ease

Q: What Is an Inventory Management Software?

Inventory management software is a system designed for managing goods in a more efficient and accurate way. Operational activities tracking the item location, stock taking, and reporting and requests for restocking to suppliers will run automatically. Inventory management system enable you to automatically record and manage all inventory items. That's what makes the company required to have an online inventory management system. HashMicro's online inventory management software have a lot of features that are needed by the companies. The inventory software can figure out which items or products are fast-moving and slow-moving. In addition, our inventory software can also record the value and number of items automatically. It will helps the warehouse staff to be more productive and work efficiently. Inventory management Apps includes features that support the tracking of items as they come in and out of your storefronts and storage facilities, a process known as inventory control. They include features that can help you maintain the right amount of stock at all times. Additionally, they include integrations that can track orders in real-time and update your accounting software automatically.

Fulfill demands with optimal inventory levels, monitor stock transfers, forecast inventory requirements, and optimize stock management across multiple locations with the best inventory management software in Singapore.

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The Benefits of Inventory Management Solution

Seamless Inventory Tracking

Seamlessly manage and monitor stock movements from one warehouse to another or from one outlet to another.

Optimized Stock Levels

Ensure optimal inventory control with low stock notification and future inventory demand forecast.

Operational Dashboard

Monitor the stock on hand, internal transfer, stock-in, and stock-out progress from one dashboard in real-time.

Minimized Waste

Optimize inventory turnover by ensuring items that have been sitting on the shelves longest are sold first.

The Main Features of Inventory Software

Barcode
Management

Manage your inventory and track stock movement across multiple locations fast and accurately.

Lot and Serial Number Tracking

Generate lot and serial numbers automatically for easier product tracking in every warehouse.

Stock Request Management

Manage stock requests from all outlets or warehouses. Automate the approval workflow!

Inventory
Forecasting

Forecast the amount of inventory you have to provide during a specified future period of time.

Inventory
Valuation

Perform inventory valuation across all warehouses at the end of each reporting period within a few seconds.

Stock Aging
Analysis

Analyze the age of your stock, evaluate and decide on future stock levels of slow and fast moving items.

Inventory Management System Integration

Accounting System

Adding the Accounting System to your Inventory Management System will help you analyze inventory costs and forecast the profit and loss generated from each product.

Inventory

Purchasing System

Integrating the Purchasing System with IMS will help you plan inventory costs, control the procurement of goods, and manage orders better.

POS System

POS System helps you update and synchronize prices and products across multiple outlets.

CRM-Sales

CRM-Sales helps you automatically deduct and record which inventory is being used, sold, or consumed in real-time.

Featured Clients

Providing the right solutions for our clients is our focus and priority.

FAQs

Frequently asked questions about our software solutions.

We provide various types of support, from free consultations and blueprints to training and user manuals, ensuring that your software is runs smoothly.

Our solutions are very comprehensive and designed for 15 industries. Our ERP system offers unlimited user licenses. Therefore, it can be used by everyone in your company at no additional cost.

We provide ready-made software that continually improves our development team. However, our software can also be tailored to meet the unique requirements of each of our clients.

Yes, our software has a mobile version to help you run your business better. Our mobile apps cover various functions, depending on the modules you are using.

EQUIP is web-based ERP software that can be run through the internet on any mobile device via any web browser.

We use PostgreSQL database management system, which ensures data security and scalable performance for many of simultaneous users.

We use Python, one of the most popular programming languages, to develop our software programs.

Explore Other ERP Modules

We also provide other modules your business might need.

Asset

Manage your assets easily, schedule maintenance, and calculate asset value, ROI, and expenses in one platform accurately.

HRM

Calculate payroll and CPF, generate IR21, IR8S and IR8A documents, and maintain employee database using an all-in-one HRM System.

Warehouse Management

Set up inventory capacity all over the warehouse. Keep track of incoming goods and outgoing items through a single system.

WHAT IS AN
INVENTORY MANAGEMENT SOFTWARE?

Inventory management software is a computer program or system used to track and manage inventory levels, orders, sales and deliveries. The software can also be used to generate reports and analyze inventory data. It is typically used by businesses that sell physical goods and need to keep track of stock levels in order to ensure that they have enough inventory to meet customer demand.

This software can be used in various industries like retail, manufacturing, healthcare, and more. It may also have features like barcode scanning, reordering notifications and integration with e-commerce platforms. Overall, inventory management software is a useful tool for businesses that need to keep track of their inventory levels, sales, and deliveries. It can help businesses save time and reduce errors by automating many of the tasks involved in managing inventory.

There are several benefits of using inventory management software, including:

1. Improved inventory accuracy: With an inventory management system in place, businesses can more easily track inventory levels and ensure that they always have the right amount of stock on hand.

2. Increased efficiency: Inventory management software can automate many of the tasks involved in managing inventory, such as reordering stock and tracking deliveries. This can save businesses time and reduce the risk of errors.

3. Better forecasting and planning: Inventory management systems can help businesses to better forecast demand and plan for future inventory needs, which can help to reduce stockouts and overstocking.

4. Cost savings: With better inventory control, businesses can reduce the amount of money they spend on excess inventory, and also reduce the amount of money they lose due to stockouts.

5. Improved customer service: With real-time inventory tracking, businesses can more easily fulfill customer orders and provide accurate information on product availability.

6. Better decision-making: Inventory management systems provide businesses with real-time data on inventory levels, sales, and other key metrics. This data can be used to make more informed decisions about inventory management, marketing and overall business strategy.

7. Enhanced security: Inventory management system enables businesses to have better control over their inventory and also provide enhanced security features to prevent theft and shrinkage.

8. Increased scalability: As a business grows, it can be difficult to manage inventory manually. Inventory management software can help businesses to scale their operations and manage inventory more efficiently as they grow.

Inventory management systems typically include the following features:

1. Inventory tracking: Inventory system able to track inventory levels, including the number of items in stock, on order, and on hold.

2. Order management: The ability to manage orders and purchase orders, including the ability to track deliveries and generate invoices.

3. Barcode scanning: The ability to scan barcodes on products to quickly and accurately update inventory levels.

4. Reorder alerts: A system that can automatically notify users when inventory levels are low and need to be replenished.

5. Reporting and analytics: The ability to generate reports and analyze data on inventory levels, sales, and other key metrics.

6. Multi-location inventory: The ability to track inventory across multiple locations, such as warehouses and retail stores.

7. Mobile access: The ability to access inventory information from mobile devices.

8. Integration with other systems: The ability to integrate with other systems such as Point of Sale (POS), accounting software, and e-commerce platforms.

9. User access control: The ability to control access to the system and limit the functionality available to different users.

10. Security: The ability to secure and protect data, such as by using encryption or user authentication.

11. Automated workflows: The ability to automate routine tasks such as inventory counting and reordering, reducing the chances of human error.

12. Real-time updates: The ability to provide real-time updates on inventory levels and sales.

13. Customizable dashboards: The ability to create and customize dashboards to provide relevant information at a glance.

14. Audit trails: The ability to track changes and view an audit trail of inventory transactions.

15. Cloud-based: The option to access the software through cloud-based platforms, allowing access to the software from any device with internet access.

Inventory management software is used by a wide range of businesses and organizations, including:

1. Retail companies: Retail businesses such as clothing stores, electronics stores, and supermarkets use inventory management software to track stock levels and manage orders.

2. Wholesale distributors: Wholesale distributors use inventory management software to track inventory levels, manage orders, and generate reports on sales and deliveries.

3. Manufacturing companies: Manufacturing companies use inventory management software to track raw materials and finished goods, manage production schedules, and plan for future inventory needs.

4. E-commerce businesses: E-commerce businesses use inventory management software to track inventory levels and manage orders, often integrated with their e-commerce platform.

5. Healthcare providers: Healthcare providers, such as hospitals and clinics, use inventory management software to track inventory levels, manage orders, and ensure that they have enough medical supplies on hand to meet patient needs.

6. Logistics and transportation companies: Logistics and transportation companies use inventory management software to track inventory levels and manage orders for shipping and transportation.

7. Service-based businesses: Service-based businesses such as repair shops or rental businesses that have physical inventory use inventory management software to track their inventory and manage their reservations.

8. Non-profit organizations: Non-profit organizations use inventory management software to track their inventory and manage their donations.

The price of inventory app in Singapore can vary depending on the specific software and the features it offers. Some of the factors that can affect the price include the number of users, the number of products being tracked, and the level of integration with other systems.

It's important to evaluate the specific needs of your business and compare the features and pricing of different software options before making a decision. Some inventory app providers also offer a free trial, which can be a good way to test the software and see if it's a good fit for your business.

There are many inventory management software options available in Singapore, and the best one for your business will depend on your specific needs and budget. Here are a few popular options:

1. HashMicro Inventory Software: HashMicro Inventory Software is a popular cloud-based inventory management software that offers a wide range of features including inventory tracking, order management, and reporting. It also offers integration with other systems, such as ERP software, and accounting software.

2. TradeGecko: TradeGecko is a cloud-based inventory management software that is popular among small and medium-sized businesses in Singapore. It offers a wide range of features including inventory tracking, order management, and reporting.

3. Zoho Inventory: Zoho Inventory is a cloud-based inventory management software that offers a wide range of features including inventory tracking, order management, and reporting. It also offers integration with other Zoho apps, such as Zoho CRM, and can be used to manage sales and inventory across multiple channels.

4. Brightpearl: Brightpearl is a cloud-based inventory management software that offers a wide range of features including inventory tracking, order management, and reporting. It is popular among small and medium-sized businesses in Singapore.

5. SAP Business One: SAP Business One is a comprehensive enterprise resource planning (ERP) software that offers inventory management features in addition to other business management functions such as financials, sales, and CRM. It's designed for small and medium-sized businesses.

6. QuickBooks: QuickBooks is an accounting software that offers inventory management features, it's popular among small and medium-sized businesses in Singapore.

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Fully-Featured Inventory Management System to Manage Thousand Inventories with Ease