Integrated Inventory is the Ticket
BUSINESS SOLUTIONS
Small Business News Philadelphia--April, 1997
By THOMAS CRAIG
President LTD Management
www.ltdmgmt.com
Whether you are a manufacturer, wholesaler, retailer or other form of business, you must have an accurate picture of your inventory. This picture should be computerized. Inventory represents capital tied up, capital which can be used for other purposes. And inventory, along with freight, is one of those problems areas which can either be a problem or a symptom of a problem.

With the increasing emphasis and interest in supply chain management, continuous replenishment and justin-time programs, good inventory information is mandatory, not optional, for success in today's markets. Inventory control should be integrated into all company programs, customer service, sales, manufacturing, purchasing and logistics.

There are inventory control software packages available. Most use Automafic Data Collection (ADC) technology. Some form of bar code scanning is common for inputting inventory data.

To decide which package fits your needs, clearly define your requirements. Understand what you must have, not what it would be nice to have. Then look at the alternatives and your needs as to--

  • Price
  • Stand-alone or require additional, parent software
  • Computer platform
  • Operating system
  • Database used
  • Network used
  • Development tools needed, such as Visual Basic, dBase, or others
  • Storage technique used in warehouse, zoned, random, directed
  • Retrieval technique used, zone, auto replenishment, order picking, multiple order picking
  • Data entry technique, bar code, magnetic strip, touch screen, RF/lD, RF/DC, or EDI
  • Additional inventory tracking or control requirements, such as cycle counting or lot tracking
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