Can Inventory Management or Stock tracking be done in Kentico?

From logistics to retail to wholesale to other industries— inventory management plays a pivotal role. It is a significant aspect of supply chain management that helps to track the stock of all goods and commodities.

To put it another way, it is a kind of automated tracking system that can not only track goods and commodities but also trace the magnitude of business operations, helping companies make better decisions.
Wondering how? With the help of a robust inventory management system.
 

It is a type of software solution that can track all the activities of targeted places like warehouses. From sales to deliveries to orders, it ensures complete tracking.
 
Consequences of not using the inventory management system

• Customer disappointment
• Sales reduce to the next level.
• Impact the company's reputation.
• Unnecessary stock of products and commodities.

Thus, a robust inventory system informs the store owner about the particular merchandise or product, whether it is out of stock, and the expiry dates and helps them make intelligent decisions. It is incredible software not only for warehouses but also for manufacturing, the food industry, depots, retail management, and more.
 

 1. Raw goods
These are the materials— whether direct or indirect (including— metals, plastics, and other materials) that are used to make finished goods. 

2. Working inventory
It is a kind of inventory, which is also referred to as cycle stock, apart from overall inventory, which is available to meet the customers' orders. 

3. Work in progress (WIP)
It incorporates all the production costs, from raw materials to machinery to labor to more. The kind of inventory is basically partially finished products that needs some time to complete.

4. Finished goods
Once work in progress is completed, the next are finished goods— readily available for the customers to purchase them.

5. Anticipation inventory
When there is excess goods or material stock in hand, it needs to fill the rising demand of the market or deficiency due to unpredictability.
 
6. Decoupling inventory
It is a sort of inventory that maintains the production equipment during the ongoing manufacturing process so that the goods or commodities are completed without any interruption.

7. Transit inventory
Shipping of the goods from the seller side but haven't received at the buyer side.

 8. Buffer inventory
Whether the surplus of the final product or raw material needs to be placed as a safety measure in case of an emergency or unforeseen situation.

It offers incredible features that help to effectively manage the commodities and products, such as

1. Inventory control
Takes care of storage space along with diverse financial resources.
 
2. Purchase order generation
When stock levels fall below a threshold, an automatic order is sent to the supplier.
 
3. Complete reporting and analysis
Provide complete data insights to know about future reorders.
 
4. Order management
When inventory gets under stock, send an alert to the managers or other staff.
 
5. Multi-warehouse management
It helps to sync all the retailer's warehouses to ensure that the stock levels are managed properly.
 
6. Volume forecasting
Whatever insights and historical data are available, it makes forecasts and projections so that businesses never get short of stock.

Using Kentico as your go-to inventory management software solution provides a magnitude of benefits, from effectively managing product brands, suppliers, and manufacturers to product availability, product status, and more. If you want to harness the real potential of an inventory management system, a Kentico CMS development company can automate the inventory tracking system so that your business can gain the optimum benefits from it.

Let's discuss how Kentico becomes the savior for businesses.

Type	Description
Managing Products	Kentico seamlessly manages products when it comes to the products application, which consists of a product section tree—in which you can look at all the products and delete them. Beyond tracking, it will also help list pricing, such as recommended retail price (RRP) or manufacturer's suggested retail price (MSRP), specify the taxes imposed on the product, etc.
Multilingual Store	If your business wants to target different regions, Kentico allows you to switch between diverse language versions by clicking the language selector.
Product status and availability	Kentico allows you to know the product availability in the store and the product status (such as Featured) for customers.
Shipping	It suggests whether the products need shipping from the online storefront warehouse to the specified customer address.
Track inventory	It provides relevant information, including product availability and quantity. It also tells you which products need to be reordered based on the inventory report, the minimum/ maximum number of orders, and more.
Technical setting	Isn't it amazing that Kentico also provides technical settings apart from tracking or availability, which helps boost your business sales? It includes the title of the product pages, brief descriptions that may benefit Search engine Optimization (SEO), and meta keywords for easy product search for customers.
Volume discounts	The Kentico software automatically calculates the discount on the specific product at the time of checkout, which helps persuade customers to purchase products.
Product Workflows	It maps the product's life cycle to understand at which point users are influenced by it. Kentico software also allows you to craft workflow actions, such as sending notification emails with the help of the send notification email checkbox.

Explore our kentico work : Migrate from Kentico 13 to Xperience by Kentico

There are magnitudes of benefits to using Kentico for tracking inventory, as it effectively tracks the quantity of products and helps businesses make informed decisions. 

1. Enhanced sales efficiency
The inventory management software helps to track the availability of goods and notifies users when an item goes out of stock.

2. Centralize storage
A Kentico CMS development company designs effective inventory management software with the help of Kentico that can manage various warehouses located at separate locations. This software makes this complex process simple by acknowledging all the information about the location along with the quantity of goods.

3. Forecasting & making smarter decisions
By incorporating the automated inventory tracking system, businesses can predict the commodity's future demand so that they can make smart decisions in advance. This is one of the incredible benefits of inventory management software, from keeping products up-to-date to understand market demands to fulfill client expectations.

4. Enhanced client satisfaction
Don't you think it is wonderful to anticipate your clients' future demands and ensure that they will never disappoint with the "out of stock" phrase? It enables unified tracking details of all the order processing that can help you enhance your business's reliability.
 

This type of inventory management system not only streamlines the inventory management processes but incredibly helps quantify revenues and profits.
There are some of the specific factors that can contribute to calculating the cost of inventory management software.
 

• Whatever features you need to develop your inventory management system will increase the cost, such as multi-warehouse support, stock level thresholds, automated reordering, and more.
• It also depends on whether you want to hire Kentico developers or opt for a Kentico agency. This will impact your overall cost.
• What type of system software you want to use also impacts your overall cost. But Kentico, which is more affordable, can help you optimize your cost to the next level.
• Next come third-party integrations, such as an ERP or CRM system, which may increase the cost of the inventory management system.

Now you know that an inventory management system is not only used for tracking and managing products and commodities but also helps to avoid stockouts; future predictability impacts the overall efficiency and ultimately makes your customers happier.

So, choosing the right inventory management software, such as Kentico, not only significantly impacts sales orders but also satisfies customers. 

Do you want to manage your supply chain effectively by automatically automating workflows and inventory tracking systems that can help you make more informed decisions? Zenesys is a trusted Kentico CMS development company that allows you to create an exceptionally well-automated inventory management system which can manage your sales channel inventory and provide you with reliable insights so that your business never goes out of stock.

1. What are the different kinds of inventory management types?
Basically, four kinds of inventory management can help to automatic the entire invented tracking system, such as

• Day Sales of inventory (DSI)
• Materials requirement planning (MRR)
• Economic order quantity (EOQ)
• Just-in-time management (JIT)

 
2. Why should a business use an inventory management system?
There are a variety of reasons that enable businesses to utilize a system such as inventory management. The key reasons are:

• Effectively access inventory levels.
• Complete the demands of customers promptly.
• Enhance customer satisfaction
• Stock level management
• Make informed decisions and more.

 
3. What is an example of inventory system integration in an e-commerce store?
Let's say— if a business has an E-commerce storefront if their stock gets low. After the integration of the inventory management system— they can edit the inventory tab and select yes to track product inventory. The system will send them a notification when the stock is low. (The quantity at which they have chosen the threshold)