The basic function of inventory management software is to allow any business dealing with physical goods to effectively track, store, sort and manage their stock. Inventory management apps facilitate the logistical management of products, automating processes related to ordering, costing, transportation, storing, assembly, shipping and delivery. These apps give you a clearer overview and greater control over your product flow.
Inventory management tools are beneficial across industries, from manufacturers and suppliers to wholesalers and retailers. Manage stock across any stage of the supply chain process from the warehouse to the storefront. These applications are beneficial to businesses dealing with large quantities of products among multiple warehouses. They also cater to small business owners, shopkeepers and retailers, along with e-commerce store owners.
Common functionalities of inventory management software include automated repeat purchase ordering and batch ordering, alerting when stocks are running low, reporting on quality control, and the electronic sorting of product types. These business applications also track the movement of stock between warehouses and storage locations, along with the delivery and final shipment of goods.
By using an inventory management application to generate recurring orders you can avert issues such as over-ordering and under-ordering of stock and parts. Avoid excess storage costs by using capacity management tools to keep on-top of space in storage locations. With track and trace features such as barcode scanning you can monitor how long products remain at various locations, follow product transportation and ensure timely delivery.
Use the returns management and quality control management tools common to these applications to further improve your business performance. Communication among field workers and on-site staff can be augmented by using one common software to comment on orders and send notes to one another.
Detailed reports can be generated to give you a clearer overview of the inventory management cycle and alert you to any snags in the process. Historical data can help you identify trends and calculate future demand plans. Sales intelligence data can help with cost control and equip you with key business information.
GetApp's Category Leader ranking is for business owners and decision makers looking for a comprehensive list of the leading cloud-based software products in the industry.
The ranking serves as a point of reference highlighting key factors that small businesses should look at when assessing a piece of software. These factors include user perception (reviews), compatibility (integrations and mobile compatibility), market presence (media presence), and security features (security).
An app's score is calculated using five unique data points, each scored out of 20, giving a total score out of 100. The ranking and scoring methodology ensure complete impartiality and independence from any relationships that GetApp has with app vendors.
Review scores are calculated using reviews collected from GetApp and its sister sites, Software Advice and Capterra. Scores are calculated based on the total number, average rating, and recency of reviews.
The number of reviews and average user rating are scaled against the category average. A weighting is then applied to reward recency of user reviews: reviews written in the last 6 months score up to 10 points, those written between 6 and 12 months ago score up to 6 points, and those more than 12 months old score up to 4 points. These numbers are added together to give a total maximum score of 20.
Integration scores factor in a number of variables. Up to 16 points are awarded based on the number of integrations an app has; the first 10 points are awarded based on the number of integrations relative to the category average, while 4 points are awarded based on the number of integrations relative to the leaders in the category. An additional 5 points is awarded for an integration with Zapier, a widely used software integration platform, while an extra point is given for having an open API. The total possible score for integrations is 20 points.
Mobile scores are calculated based on the availability of an iOS and Android app. 5 points are awarded for the presence of each app, with an additional 10 points being awarded for the number and average rating of reviews in both the App Store and Google Play. These review scores are calculated and scaled against the competition for a maximum of 5 points per platform and an overall maximum score of 20.
If there isn't a native iOS or Android app, the product's website is assessed using Google's PageSpeed Insights to measure mobile usability. The score is returned out of 100, then scaled to a score out of 5 for a maximum of 5 points.
Media presence is calculated using the number of Twitter followers and Facebook fans that an app has. The number of fans and followers are added together, and each app is scored based on this overall number, compared with others in the category. The first 15 points are awarded for the combined number of followers and fans scaled against the category average, while the final 5 points are awarded for the combined number of followers and fans scaled against the top leaders in the category. These two scores are added together for a total out of 20 points.
Security scoring is calculated using answers from a vendor-completed survey. The questions in the survey are based on the Cloud Security Alliance self-assessment form as part of the Security, Trust & Assurance Registry. With 15 questions, each answer is assigned a point value based on vendor response, with additional points given for security certifications, for a maximum possible score of 20.
In the event of a tie, each data point is weighted for importance, with security taking precedent, followed by reviews, integrations, mobile apps, and media presence, respectively.
*All data points combining calculations for both ratings and reviews are calculated using a Bayesian estimate, which is a weighted average that includes the number of reviews and the rating of an app, benchmarked against others in the category.