for Business, Encyclopedia of Business, 2nd ed. When a product is in a warehouse or store, it can be tracked via its barcode and/or other tracking criteria, such as serial number, lot number or revision number. This helps companies avoid running out of products or tying up too much capital in inventory. Should inventory reach a specific threshold, a company's inventory management system can be programmed to tell managers to reorder that product. Inventory management software is made up of several key components working together to create a cohesive inventory of many organization's systems. 8 Disadvantages of cloud inventory management software.7 Benefits of cloud inventory management software. 6 Disadvantages of ERP inventory management software.5 Advantages of ERP inventory management software.
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