What is Inventory Management Software?

Inventory management software helps food and beverage businesses keep track of all their stock. including ingredients, packaging, and products.  It's like a digital list containing all of the stock that a business has and it provides information on where it's stored and what quantities are left.

Depending on the needs of the business, inventory management software can be purchased on its own, or as part of a larger supply chain management solution.

Why food & beverage businesses need inventory management software

Food and beverage businesses have specific needs. Food can expire quickly, so they need to track expiration dates and make sure they have the right amount of stock. Too much, and it goes to waste; too little, and they can't fulfil orders. They also need to keep track of stock in different places, like fridges, freezers, and storerooms. Inventory management software helps them do all of this.

Inventory management software helps food and beverage businesses track what they have and where it is. It also helps them order new stock when they need it and avoid running out of important items. This saves money and helps keep customers happy.

Benefits of using inventory management software

Inventory management software provides numerous advantages for food and beverage businesses:

• Reduced Waste: By accurately tracking expiration dates and stock levels, businesses can minimise waste due to spoilage. This translates to significant cost savings and a reduced environmental footprint.
• Optimised Stock Levels:  Maintaining the right amount of stock is crucial. Too much stock ties up capital and increases the risk of spoilage, while too little stock leads to missed sales opportunities and dissatisfied customers. Inventory management software helps businesses strike the perfect balance.
• Improved Ordering Efficiency:  The software automates the reordering process, ensuring that businesses never run out of essential items. This saves time and reduces the risk of human error in manual ordering processes.
• Increased Profitability: By minimising waste, optimising stock levels, and improving ordering efficiency, businesses can boost their bottom line.
• Greater Customer Satisfaction:  Always having the right products in stock ensures that customers can get what they want, when they want it. This leads to increased customer satisfaction, loyalty, and repeat business.
• Better Understanding of Stock Usage:  Inventory management software provides valuable insights into stock usage patterns, allowing businesses to make informed decisions about purchasing and stock management strategies.
• Accurate Stock Valuation:  The software provides accurate, real-time data on current stock levels and their value, which is essential for accounting and financial reporting.
• Improved Efficiency:  By automating many inventory management tasks, businesses can free up staff time to focus on other important tasks, such as customer service and product development.

Important features for food & beverage

Inventory management software for food and beverage businesses should have some key features:

• Expiration Date Tracking:  This allows businesses to monitor expiration dates and prioritise the use of items that are nearing expiry.
• Multi-Location Tracking:  This enables businesses to track stock across multiple locations, such as different warehouses, fridges, or storerooms.
• Automated Reordering:  This feature automatically generates purchase orders when stock levels fall below predefined thresholds, ensuring that businesses never run out of essential items.
• Reporting and Analytics:  This provides valuable insights into stock usage patterns, helping businesses make informed decisions about purchasing and stock management.

Orderly: A great choice for your business

Orderly is an inventory management system made especially for food and beverage businesses. It's easy to use and has all the features you need to keep track of your stock. It helps you avoid waste, save money, and keep your customers happy.