Order Management Software vs. Inventory Management Software
Across the seemingly unending streams of the CRM, ERP systems, sales order management, inventory management systems and the accounting software, the scope of the technological landscape in commercial operations can be overwhelming. Furthermore, most of this software overlaps in their operations as they manipulate dozens of features and functional abilities. Conversely, understanding how each of this software executes their duties is probably the last stage you need to go through before you make these advancements part of your venture. http://www.eturns.com/ to this end, here is a comprehensive guide that highlights the difference between the inventory management and the sales order management to help you grow your venture as well as paving the way for the startup entrepreneurs.
What Is Inventory Management Software?
The inventory management software refers to an established system that is designed to keep track of all inventories in the warehouse operations. This software is used to curb the issue of backorders and unnecessary overstocking. Therefore, inventory management software is used in the distribution wings in the warehouses. Boiled down, inventory management software is a database, which is used to keep detailed ledger containing the details of stocks that get in and out of the warehouse as well as where they were located. This software allows you to accomplish the following tasks:
- Use the barcode scanner so that you can organize your inbound and outbound inventories
- Keep a reliable record of accomplishment of various stockpiles from different warehouses efficiently
- Assigning the sub-locations for effective pinpointing of different products within the warehouse
- Complying stock-on-hand reports
What is Order Management Software?
While the sales inventory serves to record activities that have already taken place, order management software, on the other hand, is designed to address the future of new orders as well as new ventures. This implies that order management software drives your sales, boosts the proficiency of the wholesale procedures, and facilitates the communication and links in the sales process. According to a definition that is used in the sales order management FAQ, the sales order management system is a software solution that entails the web order management, the mobile order writing B2B e-commerce as well as the ability to incorporate the ERP.
When you integrate the mobile order writing system in your venture, your sales representatives will have detailed access to the online product catalog, and contact information customers list the pricing, etc. On the other hand, web order management will allow the back office team to monitor the orders as they stream in from the sales representatives in various fields. Similarly, the order management software will enable you to make prompt measures in real time like the change of prices or product addition. With this software, you can also accomplish the following:
- Sending out the primary order drafts to your customers so that they might make amendments or confirm them
- You can leverage customers’ orders strategically to boost your upsell or introduce new goods to the market.
- Process your routine reorders efficiently
- Share detailed reports on the sales with your affiliates as well as individual sales representative performance in the business operations