If your company manages a complex supply chain of hundreds (or even thousands) of components, you can revolutionize the way your business operates with a sophisticated but easy-to-use system of RFID-powered smart labels that creates a virtual vending machine.
A robust inventory management software platform can provide visibility for your entire stock while reducing human error with automated critical tasks. Proper inventory management can remove the heavy lifting from your business operations.
Even with many options claiming to be the best solution, finding the right platform for your business doesn’t have to be challenging. This article will help you to make the best inventory management decision for your business.
What is Inventory Management Software?
Effective inventory management is critical for any business that stocks goods or raw materials. While inventory management was historically a manual process, modern technology has eliminated the need for a labor-intensive and error-prone manual inventory management system. Today, inventory management software is available to streamline the process, reduce errors, and help businesses optimize how they maintain and order the products they sell.
With the proper platform, you can create effective inventory management, streamline the tasks required to track inventory effectively, manage reordering, and update accounting data. Since inventory management software is critical to a business’s daily operations, selecting a reliable, effective solution with the features you need is essential.
How Does an Effective Inventory Management Software Work?
The ShelfAware platform focuses on RFID Smart Labels as a data collector. ShelfAware Smart Labels are printed on standard Zebra label printers and applied at the time of shipping by suppliers. ShelfAware deploys an RFID checkout station on behalf of the supplier at the consumer facility.
This magical user interface tracks the consumption of thousands of inventory packages in seconds, ensuring broad user adoption. This inventory consumption data is leveraged by the ShelfAware web-based application to automate replenishment, ensure lean inventory quantities, and guarantee no stock-outs.
These are some of the benefits of the ShelfAware platform:
- It’s supplier agnostic. If you like your current supplier, you can keep them.
- It’s flexible enough to work on any product mix or type. If you can stick a label to it, ShelfAware can track it.
- The RFID-powered magical user interface will be championed by users. ShelfAware has never been unplugged.
What Types of Businesses Can Benefit from Inventory Management Software?
It is important to remember that ShelfAware is designed to solve problems for both ends of the supply chain—both the supplier and the consumer. This win-win is unique to ShelfAware.
Inventory management software is a great fit for any business trying to remotely manage a complex physical inventory. More specifically, ShelfAware was designed to automate industrial wholesale supply chains and provide a platform for independent industrial suppliers to collaborate and collectively supply the industry’s largest consumers on an automated omni-channel. This is ShelfAware’s trademarked Cloud Sourcing™.
Inventory management software is a great fit for consumers who want to:
- Reduce on-hand inventory value by 65% while not stocking out of a single part. (Watch the Eskridge Testimonial)
- Eliminate expedite fees and freight (Watch the Energy Testimonial)
- Automate inventory replenishment, saving the consumer’s purchasing staff almost 1,500 work hours annually (Watch the “Go-Live Walk-Through” video)
Inventory management software is a great fit for suppliers who want to:
- Expand supplier sales horizons beyond traditional geographical limitations. For instance, equipping O-ring Sales & Service to service an Ingersoll Rand facility with a VMI program from more than 1,000 miles away. (Watch “ShelfAware Go-Live Philly-IR”)
- Automate customer account management (order entry, demand planning, forecasting, inventory replenishment logistics) saving the supplier’s customer service staff more than 500 hours annually. (Watch the “Go-Live Walk-Through” video)
Request your free ShelfAware demo
Too good to be true? ShelfAware is redefining the vendor-managed inventory industry. For this reason, we’re happy to talk to you about how our intelligent inventory platform can benefit your business. Contact us today for more information.
Watch as ShelfAware® CEO Andrew Johnson compares and contrasts a traditional 2 bin kanban VMI with ShelfAware’s cutting edge IoT supply chain platform that leverages the power of intelligent packaging to make your inventory lean and mean without all the pricey overhead.
Read about how ShelfAware helps a leading manufacturer of fluid power components and systems to easily customize, automate, and streamline their inventory supply chain operations with sophisticated but simple to employ RFID-based technology.