Cin7 Core and Cin7 Omni are examples of cloud-based inventory management software (IMS) solutions using an integrated software platform to perform all of these tasks efficiently.įollow along as we unpack inventory management, why it’s important, and how to optimize your inventory management system. So what is an inventory management system?Īn inventory management system describes the processes and tools businesses use (physical and digital) to track, record, and analyze inventory movements and sales performance across the supply chain. The core purpose of inventory management is to ensure you have the right amount of stock on hand at the right time - at the right cost and price. Inventory management refers to the theories, processes, and tools involved in controlling inventory at each stage, from sourcing to storing to selling. These alarming inventory management statistics cost businesses millions of dollars every year. Inventory management is the systematic processes of ordering, counting, storing, and tracking product supply.ĭid you know that 43% of small businesses don’t track their inventory for one reason or another? Furthermore, only 63% of retail businesses report accurate supply chain and inventory levels. Cin7 Orderhive Login – For Cin7 Orderhive customers.Contact us – Get in touch with the team.Find Services Partners – We’re here to help.Compare product capabilities and integrations – See the differences and pick the best product for your business.
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