Retail Inventory Management Software To Maximize ROI. Grocers and convenience store owners face similar problems in terms of inventory management, as the goods sold by these establishments typically include items that have much shorter shelf life duration than other retailers. Mismanaged inventory, particularly with time-sensitive items, can cause significant increases in overhead for these merchants. Grocery and convenience store proprietors need software that allows them to easily view and control inventory as it traverses the path from supplier to customer. Therefore, software providers who can create solutions for automating inventory management with custom software to accurately monitor the inventory management functions of sales forecasting, inventory control, loss prevention, and inventory replenishment have an opportunity to stand out in the inventory management software market. Sales forecasting is important to all businesses, but to a grocer or convenience store owner, the ability to predict future sales based on existing sales trends is paramount to ensuring stock of each item is high enough to meet demand without inventory loss due to expired goods.
Attractive feature for a robust inventory management solution is the capacity to seamlessly integrate with the latest inventory control devices including Radio Frequency (RFID), barcode, and QR code scanners. This allows for greater accuracy in accounting for stock on hand by reducing human error. When the scanner data is integrated with the inventory management platform, business owners can keep real-time, accurate data on inventory levels, actual sales, and inventory loss. Inventory management systems can be offered modularly from an overall ERP system. ERP systems will help tie together all the applications grocery and convenient stores use to manage business including human capital, supply chain, procurement, sales, CRM, and accounting functions. Offering theses modular platforms on the cloud creates affordable technology solutions. Software-as-a-Service (SaaS) deployments are popular services for technology as it is easier for users to deploy, access, and upgrade.