It is commonly observed that most businesses consider Warehouse management software and inventory management software to be almost synonymous. In reality, there are many subtle differences between the two. But, what does your company require? Does it require both? And if it requires only one of them, which one should it be? While warehouse management can be quiet useful for almost everything like stock location, activity tracking; inventory management software is mostly concerned with managing assets through a simple bar coding system.
So, in the end it all has to begin with the assessment of the company needs to decide whether to opt for Inventory management system or Warehouse management software system.
To help you further in the decision making process, Freighttracker, an Australia based Freight Company that offers various freight management solutions to clients in Australia and America, would like to highlight these differences to help your business spend money wisely and economically on automated software for the effective management of stock of goods.
Warehouse software systems more comprehensive
The major difference between inventory and warehouse management systems is the degree of complexity they work with. Inventory management systems are simpler in comparison as they only indicate the amount of stock at any given point in time, at a given location. Warehouse systems on the other hand offer the complete provision to manage entire storage systems within warehouses. For example, if there are multiple stores within the warehouse for several products, the warehouse management system will enable their management, but inventory system will only tell you about the quantity of all products available.
Difference in the degree of control
The simplicity of use of an inventory system also means that you can only really know about the amount of a specific product available in the warehouse with you, but management of the same will only be possible with the use of warehouse management software. To an extent, we can thus say that inventory management is an inherent system of the warehouse management software, but the opposite is not true.
Difference in the degree of integration
The first basic step in warehouse management is assessment of the inventory and for this inventory system can be handy, especially when one is talking about large quantities that cannot be easily tracked manually. After this comes the task of integrating asset information with all other operational areas like sales, production, distribution, quantity management, etc. the former can be done with the help of inventory management; the real integration task can only be performed with the help of warehouse management software system.
Helpful in devising solutions
Inventory management system gives business the opportunity to analyze the amount of inventory, but warehouse management system allows business to alter and the inventory storage capacity as and when required. Thus for the proper streamlining of any business, warehouse management system seems more viable and profitable.
When to use Inventory management system and Warehouse management system
If your business is centered on the delivery of products, a warehouse management system becomes more acceptable. This is because it perfectly integrates stock with operational departments, allowing better management. On the other hand, if your company wants a simple assessment of input and output of stock, the better option would be investing in simple inventory management software.