Mybill.lk | Inventory Management System

What is an inventory management system?

An inventory management system is a tool that allows you to track goods across your business’s supply chain. It optimizes the entire spectrum spanning from order placement with your vendor to order delivery to your customer, mapping the complete journey of a product.

Features

Barcode scanning

Easily identify and track your products; inventory management software integrates with barcode scanners for instant product identification and labeling.

Inventory optimization

Maintain just the right amount of inventory for each product, without over- or under-stocking any item. It’s especially useful if you deal in products that experience a seasonal rise and fall in demand.

Stock notifications

Receive alerts and notifications when there’s over- or under-stocking beyond a defined threshold. This helps you to place orders or offer promotional discounts to clear out extra stock.

Report generation

View sales history in the form of a list of your most popular products. This feature also enables you to manage items in your inventory that have not reached the sales levels you expected, for example, by offering discounts on them.

Multiplication management

Manage multiple warehouses and points-of-sale (POS). All locations can be integrated within a single inventory management system.

Stock returns handling

Manage returns more effectively by reducing time-to-return through automation of the entire process.

Purchase order records

Create a single view of purchase order records. You can easily identify which products are in demand, both perpetually and seasonally, and prepare to meet your customers’ needs.

Benefits of Inventory Management System?

Increased Sales
Businesses who actively manage their inventory report a 2-10% increase in sales.
Increased Information Transparency
Know when items are received, picked, packed, shipped, kitted, manufactured, etc. Also, know when you need to order more, when you’re over-stocked, or under-stocked.
Shorter Lead Times
Businesses who actively manage their inventory report a 50% reduction in lead times.
Improved Delivery Performance
Real-time inventory updates improve the flow of goods to customers.
Increased Customer Loyalty
Improve your accuracy and efficiency, and your customers will love you for it. They’ll trust you to fulfill their needs, and you’ll have exactly what they’re looking for when they come back for more.
Increased Inventory Turnover
Optimize the value of goods you have and increase inventory turnover by keeping fewer slow-moving products on hand, while increasing your stock levels on profitable goods.