4 Best Stock Control Software for Your Business
Stock control software is a type of business management software that provides information about the availability, location and status of an organization’s inventory. It's also known as inventory management software. Stock control software can also monitor production processes to ensure that materials are used efficiently. The best stock control software for your business depends on your specific needs.
This article will discuss stock control software in depth. You'll learn what this software does, the different types of stock control software and more.
Here’s What We’ll Cover:
What Does Stock Control Software Do?
Stock control software can monitor the availability, location and status of an organization’s inventory in real-time. This information may be provided through a series of computer programs or apps. These are linked to scanners or RFID (radio-frequency identification) readers. The readers are usually attached to each individual item in inventory. This allows them to provide stock control software with up-to-date information about where each item is located.
With this information, stock control software can help you determine how much of an item you have in stock. In other words, it's great for asset tracking. It will also tell you whether or not there are any out of stock items. It may also tell you if too many items are on backorder. This will allow you to reorder inventory before you run out. You can also use this data to manage your inventory more efficiently.
What Are the Different Types of Stock Control Software?
There are a number of different types of stock control software depending on your specific needs and preferences. Here is a list of some of the most popular types:
Warehouse management systems (WMS)
WMS is used in warehouses that have high volumes of items to be tracked. You can use them to monitor the status, location and movement of your inventory. It also helps monitor warehouse space. WMS are helpful because they're usually able to track each item individually. They can even provide you with information about when an order was processed or how long it took for items to move through the warehouse.
WMS is also beneficial because it can provide detailed reports based on the data you input. You may be able to use these reports to pinpoint inefficiencies so you can improve your inventory management processes.
GPS tracking systems
You can use GPS tracking software with handheld scanners or RFID readers that are attached to each individual item in inventory. This software allows you to track stock movement of items as they're shipped and delivered. If a forklift picks up an item from storage, this data can be uploaded to your stock control software as that item is moved.
GPS tracking systems can also monitor the production processes of your business. This allows you to ensure that materials are being used efficiently.
Supply chain management (SCM)
You can also use SCM with handheld devices and scanners. SCM can monitor the status, location and movement of products as they move through your supply chain. It also tracks the progress of production orders from raw materials to finished goods. You may be able to use this data to streamline production processes for better efficiency.
How Do I Pick the Best Stock Control Software for My Business?
When selecting stock control software, you'll want to consider several things. Here are some of the key features to consider when shopping for stock control software.
If you manage a large warehouse, it's best to look for software that offers advanced features. You should be able to track and monitor an unlimited amount of inventory. If your company produces multiple items, you'll also need to find software that can keep information about each individual item separate and organized.
User interfaces will vary depending on the type of stock control software you purchase. Some may have a more contemporary user interface while others may be more rudimentary. You'll need to consider your own personal preferences. You also need to consider how many people will be using the software when you're selecting a product.
PC requirements/mobile compatibility
You should make sure any stock control software you consider meets the minimum PC requirements for your business. Many software packages come with mobile apps. These are also compatible with mobile devices so you can access them on the go.
You'll also want to check that the stock control software you're considering is compatible with your server system. You may need to purchase additional equipment or licenses in order to use it. This will depend on the type of software you purchase.
Ease of use
Finally, you want to find a stock control software package that is easy for your employees to learn and understand. You should be able to train employees quickly so they can begin using it as soon as possible. It's also helpful if the software is fairly intuitive so employees don't have to spend much time learning to use it.
The Top 4 Best Stock Control Software/Apps for Businesses
Finding the best stock control software is crucial for your business. Here are our top 4 software/apps for your inventory management.
1) Advanced Warehouse Management System (WMS) by Sage
Sage is one of the best providers for warehouse management systems. The software can be used to manage multiple warehouses and keeps track of each individual item. It also provides reports based on the data you upload so you'll know what to optimize and improve in your business.
- Offers advanced warehouse management for inventory levels
- Keeps track of each item separately
- Provides reports based on the data gathered
- Pricey option for SMBs
2) Vend by VendHQ
Vend is a barcode inventory software that allows you to manage an unlimited amount of inventory. It also provides real-time sales information so you can make better decisions about what to carry in your inventory. You can even offer online sales through the software.
- Can manage an unlimited amount of inventory
- Provides real-time sales information
- Allows you to sell products online
- Keeps track of stock levels
- Only available through a cloud-based system
3) Fishbowl Inventory by Fishbowl
Fishbowl inventory software is another solid choice for keeping track of your business's inventory. It allows you to monitor multiple locations and keeps information about each individual item separate. It also provides reports based on the data you upload. It can be helpful if there are items that need more attention or additional management options.
- Allow 3 and the tops you to monitor multiple locations
- Keeps information about each item separate
- Provides reports based on the uploaded data
- Great for midsize businesses
- May be too basic for businesses that need more advanced features
NetSuite is another great option, especially for businesses that are ecommerce focused. It can help you manage your products and inventory as well as track your expenses. It also comes with an advanced customer management system so you can keep track of multiple customers or clients easily.
- Can be used to manage both products and customers
- Tracks expenses
- Offers an advanced customer management system
- Pricey option for SMBs
Using Stock Control Software vs Excel Spreadsheets
A common question is whether or not stock control software is actually necessary. Can you just use Excel spreadsheets as an alternative?
The answer is typically no. Excel spreadsheets are not designed to be used for inventory management purposes. They require you to enter information manually, which can make it difficult to keep track of things like incoming shipments or expired items. There are possible equations and formatting that can be added. In general, it is not recommended for a company that does a decent amount of business.
Stock control software was actually developed for this specific purpose. It allows you to manage your entire inventory in one single place. It also does many other things including keeping track of everything from sales to shipments and more. It is much more efficient than Excel spreadsheets or manual data entry.
Choosing the right stock control software for your business can be a difficult decision. There are many different options available for business owners. It may take some time to figure out which one is best for you. Be sure to research what each piece of software can do. It will help you narrow down your options so you can find the best stock control software for your business. Properly controlling stock can help with customer satisfaction.
We've provided four of our favorite pieces of software in this article. We also discussed what stock control software actually does. In addition, you learned how to select the best software for your business. Hopefully this article clears up any questions you had about stock control software.
Did you enjoy reading this guide? Head over to our resource hub for more great content!