Inventory Management in the Future

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In our increasingly digital world, business is changing at every level. What used to take employees and business owners three hours now takes five minutes. Something as difficult as inventory management is much easier thanks to inventory management software and other technological advances. One of the best things about business technology is that it keeps on getting better. With this in mind, what is inventory management going to look like in the upcoming years? Here are some things we think will happen in the world of inventory control:

  • Mobile business technology will rule the roost. Most retail businesses will transition to an inventory management system and warehouse management system that relies heavily on handheld devices. Even now, there are bar-code scanning apps for most smartphones – you don’t even need expensive bar code scanners anymore!
  • Inventory tracking via handheld devices will enable workers and business owners to scan a product, and information about that product will immediately be sent over a digital network to the company’s inventory database.
  • A large number of business owners will access information about their inventory on-the-go, from their smartphones and tablets.
  • Most businesses will use inventory tracking software that is cloud-based. In fact, most business software will likely be cloud-based in the future.
  • Employees will carry around portable printers with handheld devices. Those portable printers will be used to print out labels quickly and efficiently. When the price of a product needs to be reduced, employees can easily print out new price tags and labels.
  • The majority of good quality small business inventory software will be compatible with handheld devices, and the majority of this software will be offered at a reasonable price. So, startups will be able to manage their inventory efficiently and affordably.

So, what is inventory management going to look like five years from now? We can only guess that it will be more portable with the help of handheld devices and software in the cloud.