How does the Hexicalinventory inventory management system work?
Inventory is goods or materials that a business intends to sell to customers for a profit. Hexicalinventory, Inventory management system software, a critical element of the supply chain, is the tracking of inventory from manufacturers to warehouses and from these facilities to the point of sale. The goal of inventory management is to have the right products in the right place at the right time. This requires inventory visibility – knowing when to order, how much to order and where to stock. Basic inventory management steps include:
Purchase of inventory: Goods ready for sale are purchased and delivered to the warehouse or directly to the point of sale.
Inventory Storage: Inventory is stored until needed. Goods or materials are transferred through your distribution network until they are ready for shipment.
Inventory Profit: The amount of product for sale is controlled. Finished products are hauled to fulfil orders. Products are shipped to customers.
Know exactly where inventory is located within the supply chain.
Adjust prices, send quotes, track orders and manage returns.
Move the product where it is most valuable.
Reporting and analytics
Evaluate patterns in processes to predict future demand and sales.
Create and manage purchase orders.
Automate shipping to reduce errors such as late deliveries or wrong packages.
Benefits of inventory management software
- Track items in your inventory effortlessly.
- The ability to find items with the necessary doses in seconds.
- Know the exact status of your inventory instantly.
- Click to identify soon-to-expire products.
- Get automatic alerts when inventory is low and replenish quickly to avoid "out of stock" scenarios.
- Stock rotation will be smooth.
- Reduce the risk of overstocking.
- Manual work associated with inventory counting is eliminated.
- Increases business efficiency and productivity.
- The ability to make profitable decisions when investing in stocks.
- Saves costs, time and effort.
- Avoid overstocking.
- Get clear data about your inventory.