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An inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. [1] It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages.
Legacy enterprise software vendors typically offer both models, but incentivise their customers to move to the cloud. A WMS may be a standalone product, or can be a module or category of modules within a larger Enterprise Resource Planning (ERP) system, Shipping or Inventory Management Software, or Supply Chain Management System (SCMS).
From inception, Odoo S.A (formerly OpenERP S.A) has released the core software as open source. [4] Since the V9.0 release, the company has transitioned to an open core model, which provides subscription-based proprietary enterprise software and cloud-hosted software as a service, in addition to the open source version.
Accounts receivable, accounts payable, Double-entry accounting, Small Business Accounting, Multi-currency in Global versions, automatic bank feeds and downloads, standard business reporting, management reporting, Payroll, incorporated credit card and bank-to-bank Payments, inventory items, expense management, fixed asset depreciation
TradeGecko is a Singapore based software-as-a-service company that develops online inventory and order management software targeted at SMEs. TradeGecko provides an inventory management platform targeted at wholesalers and online retailers.
While it is sometimes used interchangeably, inventory management and inventory control deal with different aspects of inventory. Inventory management is a broader term pertaining to the regulation of all inventory aspects, from what is already present in the warehouse to how the inventory arrived and where the product's final destination will be. [2]
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