Inventory Management 101
Inventory management software is any system that can be used to track and manage inventory: some systems concentrate only on the product side of things, whereas others are more comprehensive and allow you to track your complete manufacturing chain from materials to finished good.
Most inventory management software records information such as product details, quantity in stock, sales and purchase orders, supplier details, and production costs. By using such a system, it's possible to maintain much more accurate records of what's in stock without manually counting items or entering data into spreadsheets each time they receive or ship out materials.
Inventory management software is incredibly useful as implemented correctly it can help to ensure that none of your raw materials are wasted, meaning you can reduce costs associated with overstocking or ordering too much material.
Inventory management software also gives small companies more control over their supply chain activities, enabling them to quickly adjust strategies if market conditions change or demand increases unexpectedly. Additionally, this type of software provides insights into trends in purchasing habits and allows manufacturers to better forecast future needs. With the right inventory management system, small manufacturing companies can increase efficiency and profitability while staying ahead of competitors in their industry.
If you're running a small business in the manufacturing or assembly industry, we have designed our inventory management software with you completely in mind. Whether you create cosmetics, candles, food and beverages, jewelry, or lifestyle products, Craftybase can help you streamline your operations and increase your production efficiency. If your production processes involve managing a variety of materials, including raw ingredients, work-in-progress inventory, and finished goods, Craftybase's inventory management software capabilities are tailored for you.