Stock control software is a key component of an inventory control system, which is a group of tools that automates the tracking of inventory. You can track any type of countable goods with stock control software, from food to equipment to apparel to books, or any other items purchased by wholesalers or retail outlets. Most stock control systems are built around barcodes which were originally created to mechanise grocery checkouts. They are now used universally to track merchandise. Using barcode readers, data is transmitted wirelessly to the stock control software as transactions or inventories take place.

Stock control software is used to track the whereabouts, transit and purchase of goods. It is used in retail businesses and warehouses, as well as by goods manufacturers and shipping companies. Stock control software safeguards quality control by sending an alert when a certain item is running low. It also automates tracking of large shipments to ensure the correct number of items is shipped or received, it minimises the risk of mistakes and helps track loss from theft.

Features

Features include helping workers locate and pull items in a large warehouse for packing and shipping, encoding tracking numbers and addresses for delivery, keeping track of items taken from inventory and keeping a correct count of what’s in stock. An easily searchable database makes it easy to find and analyse stock information quickly. Companies will use stock control software to decrease carrying costs and cut down on spoilage or outdated inventory.

Advantages

The advantages to using stock control software are many, including:

  • Keeping customer goodwill by ensuring enough inventory is on hand.
  • Saving costs on unnecessary orders and storage of too many products.
  • Increases efficiency by automating a number of tasks that would have been done manually in the past, such as data collection, calculations and record keeping.
  • It keeps warehouses organised by tracking popular products or those that tend to be sold together, so that they can be kept in proximity to each other to speed packing and shipping.
  • Secure data and up-to-date.

Finally, companies can use stock control software to analyse sales trends, shipping times and many other kinds of data to help them prepare for future market demands.