Retail inventory management software is technology that retail organizations use to order, store, and manage their product inventory.
When retail organizations struggle to manage their inventory, they risk losing customers due to fulfillment delays or product order errors. Many organizations avoid these loyalty-hurting issues by using retail inventory management software to automate and streamline their inventory supply chain and get products to customers as efficiently as possible.
Retail inventory management software is a system that integrates into a retail business’s processes and enables the retailer to track stock-keeping units (SKUs) across their supply chain, create product variants to help customize orders, and identify exactly where a product is at all times to stay organized.
On top of enabling retailers to manage their inventory supply chains, most retail inventory management software systems also provide analytics and reporting to help teams measure the success of their inventory management and sales processes. With this information, retailers can adjust promotions, pricing changes, workflows, or ordering processes to best meet customer demands.