Inventory tracking software is a specialized subset of inventory management software. These solutions place a more specific focus on tracking the quantity and physical location of inventory, as well as relevant data based on the type of inventory.
A key benefit to inventory tracking solutions is that they enable users to move from traditional and time-consuming spreadsheet-based inventory tracking to a system that automatically updates in real-time. As such, the administrative burden and error-prone nature of data entry is significantly reduced. These solutions can also feature barcode or RFID scanner compatibility that further enhances reliability, as well as the ability to track by batch or serial numbers.
Advanced inventory tracking solutions can also alert users of inventory shortages, as well as some offering order management capabilities to facilitate automatic inventory replenishment. Furthermore, inventory tracking software can often easily integrate with or feature point-of-sale (POS) or eCommerce solutions, This ensures customer demand can always be easily met.