Sample Essay

Companies implement various techniques for managing inventory and achieve optimum levels of inventory. Inventory management software is one of the popular techniques applied by companies to automate inventory management and achieve efficient levels of inventory. The application of inventory software is not an alternative to poor inventory control mechanisms implemented in a company as the inefficiency of inventory planning, supply chain incompetence and miscalculation of supply and demand would not be improved solely by the application of inventory management software.

The inventory management software enables a company to keep track of inventory, invoice customers, indicate the current and required levels of inventory, disburse payments to suppliers, determine the ordering time of inventory and quantity to be purchased in a specific order. Different inventory management software work in different ways where some software only enable a company to manage the accounting aspects of inventory while others provide a comprehensive inventory management solution for small and large enterprises. The cost varies among these computer programs depending on the functions and capabilities in inventory management and control. Some popular examples of inventory management software are Stone Edge, QuickBooks, Great Plains, Solomon, Microsoft Dynamics GP and Microsoft Business Essentials.

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