Inventory management systems in retail track inventory movements from the moment stock arrives until it is sold. With these systems in place, businesses can ensure they maintain sufficient stock levels to meet customer demands, promoting swift and transparent sales cycles.
Inventory management is often a tedious task for e-commerce ventures. Manual tracking raises the likelihood of problems such as overstocking, understocking, or misplacement. This is why many retailers turn to inventory management software development.
Custom-built inventory management systems offer small retailers and established enterprises complete visibility over their stock movements. This enables quicker and more competent order fulfillment. Moreover, businesses can align stock levels with sales to boost turnover and sidestep issues like deadstock or out-of-stock items.
Key features include automated alerts for low stock levels, with the system autonomously reordering the optimal quantity. When integrated with other platforms, these systems can even make sales forecasts and modify inventory accordingly.
The power of analytics means businesses have real-time insights into stock quantities across various locations, streamlining stock flow tracking and order compilation. This transparency also allows businesses to provide customers with precise delivery estimates. Whether for a small business or a large enterprise, integrating retail inventory management software for small business or large-scale companies with order and warehouse management systems, as well as ERPs, can prove transformative.
Features
Retail inventory management systems
Real-time inventory tracking
Instant visibility of stock levels
Barcode scanning
Quickly and accurately update inventory
Order fulfillment tracking
Monitor order progress from start to finish
BoM management
Manage bill of materials for products
Batch tracking
Track products by batch or lot number
Stocktake support
Facilitate physical inventory counts
Stock valuation
Calculate the value of your inventory
Dead stock identification
Identify slow-moving or obsolete stock
User access control
Secure access to inventory data
Stock transfer management
Manage stock transfers between locations
Product categorization
Organize products for efficient management
Stock notifications and alerts
Receive low stock alerts with time to act
Purchase order management
Efficient management of purchase orders
Inventory reporting
Generate detailed reports on inventory
Serial number tracking
Track individual items with unique serial numbers
Return management
Process returns and refunds
Kit and assembly management
Manage kits and assembled products
Multi-currency support
Manage inventory in multiple currencies
Integration with third-party tools
Connect with other systems
Demand forecasting
Predict future demand for products
Unlimited SKUs
Handle a vast number of products
Serial number tracking
Track individual items for better control
Supplier management
Manage relationships with suppliers
Reorder point determination
Automatically calculate reorder points
Dropshipping support
Manage dropshipping orders efficiently
Multi-location support
Manage inventory across multiple locations
Autofill purchase orders
Automate purchase order creation
Historical transaction tracking
Track past inventory transactions
Analytics and reporting
Gain insights from inventory data
Work Process
Working with an inventory management software development company includes several stages, each requiring its own team of specialists. As a rule, special attention is paid to integrations with other e-commerce software.
1
Project planning
We plan, estimate and prioritize tasks.
Team:
Project Manager
2
Business analysis
We analyze the client’s infrastructure, create task specifications, and look for solutions for current situations.
Team:
Project Manager
Business Analyst
3
UI/UX design
We create UI/UX design that meets the needs of different user groups.
Team:
Project Manager
Business Analyst
UI/UX Designer
4
Back-end development
We develop the server side of a web solution.
Team:
Project Manager
Business Analyst
UI/UX Designer
Back-end Engineers
Manual QA Engineers
5
Front-end development
We develop the user side of a web solution.
Team:
Project Manager
Business Analyst
UI/UX Designer
Front-end Engineers
Manual QA Engineers
6
Integrations
We analyze the software we need to integrate with the inventory management system and implement two-side integrations.
Team:
Project Manager
Business Analyst
UI/UX Designer
Front-end Engineers
Back-end Engineers
DevOps Engineers
7
Testing
We complete different types of testing, such as manual, automated, unit, and integration.
Team:
Project Manager
Manual QA Engineer
QA Automation Engineer
Back-end Engineers
8
Implementation and training
We create training materials for your employees and implement the solution.
Team:
Project Manager
Technical Writer
DevOps Engineers
Support Engineers
Our Clients
We develop large projects for clients across 27 countries, a significant number of which are featured on the Fortune 500 list.
Our company specializes in projects for Retail & E-commerce
Why Consider Inventory Management Software?
This tool is necessary when your store works with multiple suppliers and has a large number of goods in an inventory. In such cases, you may have issues with supply and turnover. You can turn to an inventory management system development service if you regularly deal with the following issues.
Multiple warehouses
You sell a wide range of items from different warehouses
Lack of real-time visibility
You can’t count the inventory records manually in real time
Inventory issues
You often deal with excess inventory and stockouts
Streamline your supply chain and improve operational efficiency with an inventory management solution developed by our highly-qualified software engineers.
In our work, we follow international approaches and standards such as:
Management:
PMP
Design:
ISO 9241-210
Programming:
Coding conventions, MDN Web Docs, Naming convention
Python:
PEP 8
JS/TS:
ECMA, JavaScript Standard Style, Google TypeScript Style Guide, ESLint
PHP:
PSR
С#:
ReSharper
HTML/CSS:
W3C
Security:
GDPR
Testing:
ISTQB
Why Choose SECL Group for Inventory Management Software Development?
Our software development team has vast experience of building internal corporate solutions for retail and e-commerce, including software for inventory management.
Corporate platforms
We design and implement tailored internal corporate solutions
AI integration
We leverage AI to optimize processes and boost productivity
Enterprise clients
We have successfully delivered solutions for Kia, BAT, and Tennet
Retail and e-commerce
We specialize in building solutions for retail and e-commerce sectors
30+ million SKUs
We have completed e-commerce projects with 30+ million SKUs
10+ million users monthly
We have built e-commerce projects with 10+ million users per month
Vast portfolio
More than 50% of our projects are in retail/e-commerce
Out-of-the-box platforms
We have built or customized IMS solutions based on out-of-the-box platforms
Team of 70+ engineers
Our experienced team of 70+ engineers delivers high-quality solutions
Integrations
We can integrate IMS software with other corporate systems you use
Third-party systems
We have experience integrating systems like SAP and Salesforce
Fortune 500 clients
We’ve collaborated with numerous top global companies
Presence since 2005
We have been active in the software development market since 2005
82% senior engineers
We have an 82% seniority level in our team
Tech stack selection
We provide expert guidance on technology selection suitable ones
Software integration
We have integrated NetSuite, Acumatica and Zoho Inventory
Our Awards
Authoritative Design Award
Behance Interaction Award
Technologies
We specialize in specific technologies, with the technology stack chosen based on the project’s purpose and requirements
Here are our answers to some frequently asked questions about building inventory management software. If you have another question on this topic, please get in touch with us for more information.
Why is inventory management software important?
Inventory management systems streamline stock control, reduce errors, and optimize operations. They help businesses maintain accurate records, avoid stockouts, and improve overall efficiency.
Can inventory management software integrate with my existing accounting and e-commerce systems?
Custom-built inventory management software solutions offer seamless integrations with the accounting and e-commerce platforms the company already uses. This eliminates the need for manual data entry and greatly reduces the risk of errors. Every system we have developed has featured dozens of integrations with other solutions.
What are the key features of inventory management systems?
Here are the essential features of these solutions:
Product catalog management
Purchase order processing
Stock level tracking
Sales order processing
Barcode scanning integration
Reporting and analytics
These are only the basics and the functionality may vary depending on the specific requirements.
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