This section provides an overview for inventory systems as well as their applications and principles. Also, please take a look at the list of 10 inventory system manufacturers and their company rankings.
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An inventory control system is a system that facilitates inventory operations, especially for companies with a large amount of inventory. The conventional method of counting all inventory one by one and comparing it with the number of items in the ledger book requires a lot of manpower and a huge amount of time.
Therefore, by managing each item with a barcode or IC tag and reading it with a handy scanner, the inventory verification process can be made easier. In addition, since the read data can be handled as-is in electronic form. It is easy to check whether the actual number of items in stock matches the number of items on the ledger sheet.
Since inventories are used to determine the current inventory status accurately, inventories can be used to calculate the cost of goods and profit. In other words, inventory control systems allows company to quickly and accurately determine its profits and help it determine its business strategy.
In addition, if the system is built to manage inventory counts in real time, it can be reflected in material procurement and product sales policies, as needed. Furthermore, errors in receiving and shipping can be quickly identified, leading to early resolution of problems.
There are various ways to build inventory control systems, so it is important to consider the cost and benefits of implementing and operating the system in relation to the size of the inventory.
The first and easiest way is to use Excel for inventory management, where formulas and macros can be used to reconcile actual inventory counts with those on the ledger sheet. However, since the most time-consuming part of the inventory process, i.e., checking the inventory count and inputting it into Excel, is a manual process, it does not save a great deal of time.
The next method is to manage each item by barcode. By simply reading the barcode with a barcode scanner, the inventory can be checked smoothly, and by linking it to a PC, the time and effort of inputting the data can be eliminated. This reduces the number of inventory counting and entry errors.
Furthermore, if ID tag management is introduced, multiple items can be read at once while being placed on the shelf, eliminating the need to take items out one by one and read their barcodes. Robots can also be combined to create an unmanned automated system.
*Including some distributors, etc.
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InstantGMP, founded in 2008 in the United States, is a software company that specializes in providing manufacturing execution system (MES) software for the pharmaceutical, biotech, and cannabis industries. The company has been providing software solutions to help manufacturers comply with regulatory requirements, manage production processes, and improve product quality. The MES software is designed to streamline manufacturing operations, reduce errors, and increase efficiency. Its software is utilized by manufacturers of various scales, ranging from small startups to large corporations, and is highly regarded by industry professionals for its comprehensive features.
SOS Inventory, founded in 2023 in the United States, is a cloud-based inventory management solution that caters to small to medium-sized businesses involved in manufacturing, supplying, or distributing products. It offers a comprehensive set of features for tracking inventory quantities and costs, from supply chain and production to fulfillment, sales, and finance departments. The software allows users to import and export data, define item details, and generate various reports for in-depth analysis. With its comprehensive functionality and accessibility,the company helps businesses streamline its operations and maintain efficient inventory management processes.
SolidWorks Corporation, headquartered in the United States, is a software supplier company specializing in 3D computer-aided design (CAD) solutions since 1993. The company has become a major provider of cutting-edge design and engineering software for various industries, including manufacturing, automotive, and aerospace. Their flagship product, SolidWorks CAD software, empowers engineers and designers to bring their ideas to life with precision and efficiency. Their solution portfolio unites the customer's entire ecosystem, allowing them to connect the people, applications, and real-time data from every aspect of their business for improved productivity, increased collaboration, and accelerated innovation.
MRPeasy Ltd., located in Dallas, Texas, USA, has been a software manufacturer producing cloud-based production planning software for small enterprises since 2000. Some of the products that the company offers include production planning and scheduling, inventory management, purchasing, as well as CRM, team management, and accounting functionalities. These products are used by small manufacturers and distributors to manage their business operations. The company has also obtained its ISO 27001 certification for information security.
ECI Software Solutions, founded in 1999 in the United States, is a global software company that specializes in cloud-based business management solutions. The company has been working with small to mid-sized companies in the building and construction, distribution, field service, and manufacturing markets to help them compete and grow. Its industry-specific tools are designed by people experienced in the field, so the company knows firsthand how to make it easier for businesses to do what they need. Its software delivers real-time visibility into every area of operations.
SafetyCulture, founded in 2004 in Australia, is a distributor of global technology that provides mobile-first products that help working teams achieve quality and safe operations. Its operations platform offers safety inspections, risk assessments, incident reports, and quality control checks. It also provides work management tools such as business checklists, work order checklists, and standard operating procedures. Utilized by over 70,000 organizations, the company's platform gives teams the knowledge, tools, and insights to improve its operations. The company's iAuditor app is available on Google Play and the App Store.
FactoryWorx, founded in 2018 in Australia, is a supplier of AI products. The company offers artificial intelligence and Industry 4.0-enabled solutions and services to empower people to see the bigger picture, its progress, and support in manufacturing operations. The company's MES team collaboration module provides manufacturing operations with dynamic information systems that drive the effective execution of manufacturing operations, all with the aim of manufacturing success through advanced solutions and services.
Finale Inventory, established in 2009, is a US-based business services supplier specializing in cloud-based inventory management solutions. The company offers a diverse range of inventory management software including warehouse management, order management, eCommerce tools, and more. These tools cater to businesses of all sizes, helping them in the management of inventory, streamlining operations, and creating efficient workflows. Customized solutions are also available to meet specific client requirements. Finale Inventory serves clients across industries such as automotive, manufacturing, electronics, and more.
Zoho Corporation Pvt. Ltd., founded in Chennai, Tamil Nadu, in 1996 is a supplier of operating systems and unified cloud software. The company's product portfolio includes IT Management, Social Media Management, Invoicing, Accounting, and Email Marketing software. The company serves markets including education, finance, BI & Analytics, Legal and security and IT management. The company also offers customer services that include global technical support, customized software, product selection and customer support.
Number of Employees
Newly Established Company
Company with a History
*Including some distributors, etc.
*Including some distributors, etc.
Country | Number of Companies | Share (%) |
---|---|---|
United States of America | 3 | 100.0% |
18 products are listed.
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