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Analytics: Information is critical to managing and growing your business, but you need more than numbers on a page to transform data into actionable information. Robust inventory control software will give you a range of customizable reporting options, including advanced analysis for the decision makers in your company.

Expiration Date Tracking: If your inventory includes time-sensitive products, your inventory software should track expiration dates from the moment they are received until they are shipped. Because expiration-related issues could crop up in the future, the software should also include the ability to track historical expiration date data.

1. Manufacturing: Smooth production cycles depend upon sound management of resource planning and production. The right software can allow you to gain a competitive advantage because it gives you the ability to respond quickly to the needs of your customers.
2. Remote Data Collection: The top inventory software providers can combine software and hardware solutions that will allow you to remotely access vendor and customer data, track inventory and fixed assets, and issue sales orders and receive purchase orders. Retail Management: If you have retail locations, look for an inventory software solution that can increase the productivity of your employees, adjust inventory at point-of-sale, and automate purchasing.

And, of Course, Inventory Control. The inventory software solution that you choose should have the ability to track serial number, print barcodes, and store item images. It should allow you to define automatic reorder points, the purchase currency and cost, and the sales currency and cost. If you have unique pricing requirements, the software should allow you to assign different price points to the same item. It should also allow for manual counts and adjustments, as well as provide an audit trail for inventory adjustments.

Flexibility is Key.

An inventory software solution should be robust, but it should also be flexible. If, for example, you deal in apparel, a module that tracks color, size, and style should be available. If your company provides service and returns, you may need a module that allows you to issue return merchandise authorization numbers, receive replacement items from your vendors, and issue replacement items to your customers.