Inventory Software

What Does Inventory Software Mean?

Inventory software refers to business applications that are designed to track and manage product sales, material purchases, delivery of goods and other common production processes. Inventory software helps businesses bring in the materials they need to produce a finished product for customers. Inventory software programs often use bar codes or other identifier tracking systems to give a complete accounting of the shipping and storage segments of the production process.

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Techopedia Explains Inventory Software

Inventory-tracking software allows a company to see when a shipment of material comes in, how long it stays at each stage of production, how quickly the end product leaves the warehouse and where it goes. Inventory software is a general term in the sense that it can refer to the specific software of a particular warehouse or the software that monitors the entire supply chain and sales side of the business. Businesses use inventory tracking software to reduce the effort put into basic tracking, thus freeing up time to analyze and improve overall processes.

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Margaret Rouse
Technology Expert

Margaret is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical business audience. Over the past twenty years, her IT definitions have been published by Que in an encyclopedia of technology terms and cited in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine, and Discovery Magazine. She joined Techopedia in 2011. Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages.