limitations of traditional inventory management

Traditional inventory management methods can be time-consuming, error-prone, and lacking critical capabilities. With these methods, you have no real-time data, no insights into inventory levels, locations, and movements around the shop floor, so you have no idea what’s happening from moment to moment. This leads to inaccurate inventory records, stockouts, overstocking, and increased operational costs.

Let’s look at some of the common work-arounds manufacturers use to manage inventory without software and why they fall short.

• paper-based systems: Many manufacturing plants still rely on paper-based systems to track inventory. Not only is this approach needlessly labor-intensive, but as the plant grows and production volumes increase, the limitations of manual methods become even more apparent. You’ll likely see delays in production, increased costs, and decreased customer satisfaction.

• spreadsheets: These are another popular, albeit limited, option for inventory management. While spreadsheets offer some flexibility for data entry and calculations, they fall short in providing real-time visibility, automated workflows, and advanced analytics. Plus, they’re difficult to scale as the business grows and, again, prone to human error. Finally, spreadsheets lack the automation and integration capabilities of a robust inventory control software solution.

• custom-built solutions: Some manufacturers attempt to develop custom-built solutions in-house, another costly and time-consuming endeavor. Building a custom solution requires a significant investment in software development, hardware infrastructure, and ongoing maintenance. Furthermore, custom solutions lack the features, scalability, and integration capabilities manufacturers need. In many cases, the time and resources spent on developing a custom solution could be better invested in a proven inventory control software solution that offers a faster time to value and ongoing support.

what makes inventory control software effective

The challenges posed by traditional methods are no match for modern inventory control software solutions. This technology automates tasks and integrates smoothly with other software you use, streamlining processes, strengthening collaboration, and enhancing overall efficiency.

Here are some key factors to consider when selecting inventory control software:

• real-time inventory visibility across multiple locations: This is essential for maintaining accurate stock levels and preventing stockouts.
• advanced purchase order management: Inventory control software capabilities help streamline the procurement process, reduce lead times, and improve supplier relationships.
• robust reporting and analytics: These tools  give you valuable insights into inventory performance, letting you make data-driven decisions.

the future of inventory management

The need for efficient, accurate inventory management has never been greater. By embracing the power of inventory control software and transitioning to a modern solution before it’s too late, you can ensure your business stays relevant while you streamline operations and enjoy a remarkable improvement in overall efficiency.

learn more about MES 

If you're trying to understand MES, you to dive a little deeper than its basic benefits.  Scroll through our content to learn more about how an MES helps you run the shop and if you don't find what you need, just reach out and ask. 

maximizing efficiency with inventory management software

implementing inventory management software

advanced techniques for inventory tracking

inventory management software: features & benefits