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Inventory management  has become important for the survival of the organization today. If you do not have good control over your inventory, the day is not far when you will lose control over your profits. In the last 12 months, about 81% of consumers experienced an "out-of-stock f-stock" situation, resulting in lower retailer sales and more frustration for store shoppers. Globally, retailers lost a whopping 1. 75.75 trillion due to mismanaged inventory. If you are still managing its inventory on spreadsheets or not managing it properly, your business may suffer and it is time to streamline your inventory management processes. Managing inventory can be very challenging and can be really painful when you’re in a growing business. If you're having trouble tracking your inventory and if you're having trouble optimizing your warehousing and storage facilities, you've come to the right place. Now, we will tell you why you need inventory management. Before that, let us t

  What is inventory management software?  Inventory management software has business applications that track, manage and organize product sales, content purchases and other production processes. Gone are the days of tracking inventory with pencil and paper. Businesses can now use systems based on barcodes or radio-frequency identification (RFID) to see when shipments arrive, where the raw materials are and when their products are shipped. Using inventory management software, businesses reduce the time and effort put into previous basic tracking and instead focus on analyzing, detecting, and minimizing failures in their models. Why is inventory management software is important?  IBM reports that 54% of the process is handled by key supply series executives and to assist in the adequacy of your inventory management. There is no business passing inventory, that inventory story is located and coming and the order needs to be completed, without writing that study, no company is running for