Inventory Management Basics

Inventory management software capabilities can range from tracking item usage in a single supply closet to a fully integrated, real-time material management system in a multi-facility warehousing operation. To help clarify the different levels of solutions that are required based on needs, System ID defines systems as either a basic Inventory Management System (IMS) or a more completeWarehouse Management System (WMS). Choosing and IMS or WMS solution is a critical business decision. Let our experts help you assess your needs and make the right choice for your specific application. Call 1.888.648.4452 for free advice, or email sales@systemid.com.

Wasp Inventory Control v4 Standard Edition

InventoryControl Standard Edition includes 70+ powerful management reports, 1 PC license, and 1 mobile license. It uses a built-in Microsoft SQL Express database.

Wasp Inventory Control v4 Pro Edition

InventoryControl Pro Edition includes 80+ powerful management reports, 5 PC licenses, and 1 mobile license. It uses a built-in Microsoft SQL Express database. It also has the added functionality of being able to network PCs, to breakdown units during receiving, to create and track pick orders, to create purchase orders, to support full receiving functionality, to have multiple suppliers per item, and to support non-inventory items (supplies).

Wasp Inventory Control v4 Enterprise Edition

MobileAsset Enterprise includes all the features of Pro but with unlimited PC licenses, 5 mobile licenses, and it requires a full version of Microsoft SQL database.

Quick-Trak Inventory

Our most advanced IMS system is the robust Quick-Trak Inventory Pro software suite. This RF-capable IMS for enterprise applications ensures maximum flexibility with real-time wireless data transfer and a comprehensive feature set.

Quick-Trak Inventory Enterprise is an Entry-Level (Tier 3) Warehouse Management System. Designed for use in larger distribution centers or by companies that have higher sales volume, Quick-Trak Inventory Enterprise was built from the ground up for scalability and ease of use.

Inventory Control Learning Center

Inventory control usually deals with management of "temporary" goods that a company sells, distributes, or consumes, such as products or supplies. Asset Tracking deals with "permanent" items that a company uses internally, like hardware or tools. This chart will help you determine the difference between the two.

Inventory control systems offer benefits to all operation types and sizes. Those benefits can vary as much as the applications vary, but across the board, inventory control systems can decrease data errors, increase productivity, and lower operational costs. This is achieved by reducing or eliminating…

Hand-keying of data
Manual physical inventories
Backorders and lost sales due to inaccurate or lost inventory
Inventory write-offs
Overstock due to inaccurate inventory
Disruption in operations caused by material outages

Inventory control systems typically pay for themselves in less than one year. Most of the return on investment comes through saving on labor costs, inventory carrying costs, and storage space costs. Very few companies understand how inexpensive and non-technical it is to put an inventory control system in place.

What Type is Right for My Application?

Inventory control software capabilities can range from tracking item usage in a single supply closet to a fully integrated, real-time material management system in a multi-facility warehousing operation. To help clarify the different levels of solutions that are required based on needs, System ID defines systems as either a basic Inventory Management System (IMS) or a more complete Warehouse Management System (WMS).

Inventory Management Systems

Focused on the direct management of items for inventory
Basic inventory control, receiving and shipping functions at an individual item level
Stand-alone applications normally
Offer little or no integration with other systems

Ideal for

Small business environments
Single-function, local inventory management (supply closets, departmental inventory, etc.)

Warehouse Management Systems

Builds upon the basic inventory management functions of an IMS
Automated receiving, put away, picking, and shipping
Prompt workers to do inventory cycle counts
Supports real-time data transfer between the system and warehouse personnel typically

Three categories:

Entry-Level (Tier 3) Warehouse Management Systems: Appropriate for smaller businesses to lay a foundation of proper inventory management.
Enterprise-Level (Tier 2) Warehouse Management Systems: These work best with small to mid-size businesses, incorporating many facets of a foundation program.
Custom (Tier 1) Warehouse Management Systems: An enterprise solution, customized based on your unique warehousing needs.