If you are a business owner and want to easily manage your
Today, we’ll look at the key features you should keep an eye out for in any store management software, and some of the best platforms in the industry.
Read on for more information.
Key Store Inventory Management Features
Inventory tracking
The best store management platforms will offer
- Sale orders will be added following confirmation of the order.
- Inbound stock will be reflected once it reaches company hands.
- Consignment stock could be tracked by the system as well.
Inventory value tracking
As well as tracking your inventory, your retail store management software should give you accurate value reports as well. This will help you balance your books, keep track of profits and expenditure, and simplify accounting tasks. As such, you should look for a store management software that offers the following:
Real-time inventory values that monitor price variations and product volume.Live-view of inventory value with multiple filters (country, regions, warehouse, etc.).Multi-currency features if you are an international seller.- Track variable inventory expenses such as wastage or courier fees.
- Product grouping capabilities.
Real-time profit margin according to sales channels, locations (this should consider variable costs as well).
Low stock alerts and reorder features
If you know how much stock you have left and its value, you’ll also need some handy reorder features and low stock alerts. Most store management software has
If you want to grow your business, you’ll need a simplified reorder function and reports so you can see all your reordered inventory in one go.
Purchase and supplier management
Store management software should also give you greater control over purchasing new items. When you have sophisticated inventory management features and know the value of your current stock, you’ll be in a stronger position to buy new items, diversify your offerings, and maximize business growth. You will also know when not to buy items.
In short, a good store management program should automate and optimize your purchase process, removing the need to manually input supplier details when placing new orders.
Your inventory management software should let you:
- Autofill purchase orders.
- Store all your supplier details.
- Automatically generate quantity discounts for easy bulk purchases.
- View your order history with specific suppliers.
- Partially receipt orders that are sent via multiple deliveries if necessary.
Unlimited SKUs
You should also make sure your store management software gives you unlimited SKUs. Ideally, you’ll be able to add unlimited products, transactions, customers, supplies, etc. Retailers that use store management programs are usually planning to scale their business. As such, the software should be relevant when you take your store to the next level.
Comprehensive inventory reporting
Above all, store management software should let you view all your data with ease.
Your inventory reports should include:
- Inventory turnover
- Days to sell for each product
- Backorder rates
- Unite sales
- Profit margins
- Stock age
Online and offline sync
Many store management systems can sync offline. This way, you can perform vital admin tasks during your commute and when you are away from the office. You’ll also be protected if you have a problem with your broadband. Many business owners are
Best Store Management Software For Your Business
Now that you’ve got an idea of the features you should look out for, check out some of the best store management programs. Whether you are looking for grocery store inventory management, or a program to help run an electronics business, these suggestions will be more than adequate.
Netsuite
Netsuite is one of the most popular store management systems on the market, suitable for
Key features
- Clear insights on all aspects of inventory management
- Automated payment management and invoices
User-friendly dashboards- Comprehensive asset management
Price
Netsuite price depends entirely on how many modules you need and how many users will use the system.
Ecwid by Lightspeed
Ecwid by Lightspeed is a store management platform designed for smaller businesses. Retailers benefit from inventory, customer, and retail accounting management. The software is used in numerous sectors, such as furniture, groceries, sporting goods, clothing, and others. In addition, the software incorporates barcode scanners, credit card payments, automated discounts, electronic scale, canceled orders, and other functions. In short, Ecwid by Lightspeed is a fantastic
Key features
- Management, and POS software
- Ecommerce integration
Pricing
Ecwid by Lightspeed offers a free version to new customers. However, you’ll need to pay $49.00 per month for full access.
Traqq
Traqq makes managing a remote team much easier than you would expect, which is why it is the store management system of choice for many retailers. The software is simple to implement and employers can keep an eye on productivity and oversee billable hours efficiently.
The software is
Traqq comes with
Also, Traqq ensures all activities are ethical and provides robust security assurance. The software reduces the image quality of data screenshots to avoid personal information breaches.
Key features
- Online and offline productivity tracking
- Screenshots and screen recordings
- Activity timesheets
- Website and app usage statistics
- Customized reports for users and projects
In-depth invoice reports- SSL encryption
Pricing
Traqq is also free for all users, with unlimited access to features.
Want To Take Your Business Online? Try Ecwid!
If you are thinking of scaling your retail business with store management software, you may want to try Ecwid to take your store online. We are an
