Inventory Management App For Revolutionized Supply Chain Operations

Quixy Editorial Team

November 5, 2024

Are you using a smart inventory management app to manage your inventory?

Is it smart, or do you still use the outdated inventory management system? 

Yeah, we all know how important inventory management systems are. They act as a key in various business operations like industries, including manufacturing, logistics,ecommerce, and distribution. 

Suppose you’re that person who looks after the existing stock, sends out purchase orders, and updates inventory. In that case, you know how tedious it must be to find a platform that can handle everything, prove efficient, and simplify your job. 

Okay, you may use spreadsheets. But how much time do you spend entering data across categories, and if you have multiple locations, entering data for all? And that too without duplication and errors? 
You could use 2-3 different pieces of software – each with a different login – so you can place orders through one, review stock in another, and trigger reminders from another app. 

Sounds chaotic! 

Despite the software, does it even cater to your needs? Or are they just generic apps that assume a few processes and generalize, making it complicated to work even more because of all the restrictions? 

How about you build your own Inventory Management App? Stock up the excitement. We’re here to tell you all about it. 

But let’s pull the situation back to get the full story of the inventory management system. Nope, it’s not just an inventory management system; it’s a smart inventory management system. 

What is a Smart Inventory Management System?

It is an inventory level that provides real-time visibility. The smart inventory management system is used to record the demands and movements of stock using automated tech systems like automation, AI, and IoT. 

A smart inventory management system tracks firms’ automated inventory management systems. It helps in boosting inventory-related solutions, stocking tracking and gaining efficiency through a data-driven decision-making process. 

So, let’s find out more about the transformation of supply chain operations with smart inventory management software applications. 

Role of Inventory Management System –

Managing a stock in the inventory system starts before reaching the warehouses, i.e. a long way at the time of production only, I mean before stocking and piling up in stores or Godowns.  

Improves Efficiency

Helps control and enhance the efficiency of stock through improved operations and product management systems like automated stock control systems, etc. 

Cost Deductions Systems

This helps minimise the inventory system with improved stock handling methods. It helps decide the costs related to storage and handling charges of the inventor system. 

Better Customer satisfaction

With inventory information, businesses promptly fulfil customer orders, which leads to better customer service and satisfaction.  

Enhancing Data Accuracy

In IMS, using barcodes or RFID technology will enhance accuracy by reducing human errors and automating inventory counts by introducing automation in place of manual entry. 

Reporting and Analytics

The system generates detailed reports on inventory turnover rates, stock valuation, and order history. This data aids in making informed business decisions and identifying trends. 

Integration with Other Systems

It offers a seamless flow with integrated systems like ERP, e-commerce platforms, and accounting systems that provide seamless information across departments. 

Multi-location Management

Using IMS, multiple warehouses or stores can be managed with inventory across locations. Also, get visibility on stock availability and transfer processes. 

Smart Inventory Management vs Traditional Inventory Management 

By using Quixy’s Inventory Management App, you can ensure efficiency and streamlined management. Let’s see how.

Different Master Screens to Transform Your Supply Chain

To ensure the inventory is stocked and to track your inventory, we have the master screen that allows you to add new stock items into the system; the different master screens are depicted below.

Inventory Management App – Create Warehouse

A warehouse is just like a logical depiction of a physical warehouse. Users can create a warehouse and add items to the warehouse.

All the warehouses in the organization can be added here.

Create location

You can create a location in the warehouse where you want to add your items; the user selects a warehouse, enters a Rack and Bin Number, and a location is created.

Also Read: Your Guide to Warehouse Management Success

Inventory Management App – Item master

You can add a new item to your inventory; the User has to select a warehouse and location and then add an item.

This way, it becomes easy for the user to locate an item in the inventory and keep track of it.

Customer and supplier master

Users can add new customers or suppliers to the master screens. The inventory module has the option to add bulk data by uploading data from Excel with all the details of the suppliers or customers.

Also read: Game-Changing Logistics Software to Boost Your Supply Chain

Inward Stock

Inwards stock can be defined as the stock that is stored when the enterprise buys the stock from suppliers; the incoming stock can be added in the Inward process.

Create Purchase Order

To start with the inward process, the User has to create a purchase order.

Upon receipt of items against the PO, the quality assurance executive inspects the items.

The next process is to generate the good receipt note (GRN).

The GRN is generated for a particular purchase order, and the goods are stored in the inventory.

When the Purchase order fails the QA test, and the goods need to be returned, it goes to the return zone where the purchase order is selected and returned.

Outward stock

Outward stock is where you sell the goods or sell the stock to a customer.

The process starts with creating a work order, the user has to create a work order by selecting a customer for the order.

Once the work order is created the process moves to creating the BOM (bill of materials)

The user selects a Work order and adds the materials along with the quantity.

The next process is creating a Pick List

A Pick List is created. The available stock in the inventory is shown along with the required quantity. User can select the picked quantity and change the status of the order.

The Dashboard provides real-time status of the inventory, POs, and WOs through the use of drill-down charts. Users can initiate the most frequently used actions from the dashboard itself. The dashboards can be configured based on permissions and user needs.

Reports can be generated based on user needs and exported, printed, or emailed to the respective stakeholders as per business requirements.

The document generator feature allows users to automatically generate Reports, Purchase Orders, Work Orders, and Invoices using the data available in the system eliminating any possibility of human error.

Impact Stories: Quixy propels Jatagan to a 50% higher level of productivity!

Also Watch: Effective Material Management Strategies for Improved Business Operations

How can Quixy help with an innovative inventory management system? 

Quixy helps create tailored business applications like inventory management solutions that track real-time stock levels and their movement. Here is how the Quixy no-code platform can help you make an innovative inventory management system. 

1. Automated reorder alerts prevent stockouts and overstocking. 
2. Customizable, real-time inventory tracking with barcode and RFID options. 
3. Automates daily tasks to save time and reduce errors. 
4. Seamless integration with ERP and CRM for consistent data flow. 
5. Mobile access boosts on-the-floor productivity. 
6. Automates order fulfilment for faster, more accurate processing 
7. Scalable, no-code platform adapts to business changes 
8. Ensures compliance with digital records and audit trials.

With these features, businesses can build a highly efficient and data-driven Inventory Management System to streamline operations, enhance visibility and enable smarter decision-making in inventory control. 

Inventory Management App – Takeaway

Quixy is a Build Enterprise Application for Quick and Effortlessly Management. It is a customized and easy-to-use Inventory Management App that is the golden ticket to ensure the smooth functioning of the business. The Inventory Management App is one of the many ready-to-use solutions available on the Quixy platform that lets departments across the business automate their processes and drive innovation.

An innovative no-code platform, Quixy helps you automate any business process and build simple to complex enterprise-grade applications in hours and days instead of weeks and months all without writing any code. The process can be customized to your needs and best practices.

Get started with our platform and experience the ease of automated processes and personalized app building. 

Frequently Asked Questions (FAQ’s)