Retail Inventory Management Software Profitability


What exactly is inventory management software ?

Inventory management software is software solution for digital age build in a way by software development company so that retailer can effectively manage , order and track inventory on the go thereby replacing traditional methods like spreadsheet . With the use of advance automation technology , software aids retailers to even predict the future sales and demand without even a single loss of inventory .

Smarter Inventory Tracking Eliminating Dead Inventory 

Before the rise of the digital revolution , managing inventory was a mess . A shop concern person was to manually reconcile every sales receipt with inventory and then gets the gross output out of it . This whole process which has been explained to you in one single line was a lot more cumbersome process for store owners. This indeed results into inventory loss and replenishment which is almost next to impossible to avoid loss of inventory and goods .
With the rise of digital era , it has also given rise to automated inventory management software and with the high demand of mobile apps , there has been also rise in demand of retail industry app development which focus on consumer centric solution and helps managing inventory and reports from the mobile devices as well .
Lets quickly look at some of the smarter inventory tracking solution :

Sales Forecasting Module

Although sales forecasting module is important for all business , but when it comes to retail industry it is two way situation for shop owners , as firstly they have to maintain the sufficient stock to meet their future demands and at the same time they have to take care of the inventory which are getting expired to be sold first in order to avoid inventory loss due to expired goods .
It’s a well known fact that fumbling stock is the quickened way to business disappointment—the overhead skyrockets without the expansion in deals to match .
Hence the key to consistently meeting stock demands and not exceeding more than the demanded quantity is made feasible due to future forecasting of sales .

Automatic Stock Replenishment

Automatic stock replenishment is software solution that works automatically thereby eliminating the human intervention and hence in turn reducing data corruptions . It is a computer assisted software system that helps generating the purchase order from historical data which is entered in the system automatically with bar / QR code scanners , thereby reducing labour cost and improving data accuracy .
Inventory managend software solution aids you analysing when do you actually in need of stock and when you can take care of controlling the cost in order to avoid loss of goods that’s get expired even before the purchase order has been released . The good automatic stock replenishment software is known to be one who has the highest capability of :
  • Establishing minimum stock allowed
  • Establishing maximum stock allowed
  • Operating a replenishment timing system
These add on alerts allows managers to compute economic order quantity ( EOQ) .  As per the need a custom reports can also be generated with use of this software that can help you measure cost of goods sold (COGS) , overall turnover and net profits arising out of it .

Custom Inventory Integration

Track receipts , invoices , purchase order or any other things that was earlier the task of your accountant or personal assistant on real time basis which has been made possible because of inventory management software . These software system can be integrated as well with  ERP software system that can directly help in creating a chain with other applications , grocery store , convenience store that is used to manage business which is not limited to human capital , supply chain , sales , CRM , accounting function and more .

Cloud Based Storage

The best part of retail inventory management and other software solutions are their data are stored on a cloud based system thereby giving power to merchants to access inventory from anywhere with internet connectivity – visibility from desktop , mobile or wearables devices .

Revitalising Quality With Automation 

Inventory management software bridges the gap between supplier and consumer by helps them with satisfying their emerging market demands . Implementing a custom inventory system software helps business in numerous of ways thereby helping then in monitoring stock and trends and cutting loss .
So in case you are looking for development of custom inventory management software , you can contact the experts team of Winklix who can help you in maximising profits .

Blockchain and Mobile App Development

blockchain app development company

Blockchain technology is latest buzz in almost every sector of different kind of business . The main reason why it has gained so much popularity is due to significant increase in the Bitcoin and its users.

Blockchain is known to be decentralised network which carries out the transactions in most secured way which is also fast , traceable and transparent . Now a days blockchain development technology is also one of the hottest topic among tech giants .
But the question is how do you actually trust that blockchain technology is 100% fit for carrying out secured transaction that fits in your application project ? You can get the answer to this question by having a deep understanding of fundamentals of Bitcoin and Blockchain .

What Is Blockchain ?

In order to understand blockchain in a better way , let’s take the first step of understanding Bitcoin .
So what do you think Bitcoin is ? Bitcoin is known to be the very first decentralised currency in the world which has gained huge popularity over the last couple of years . Bitcoin has been developed using the concepts of the blockchain technology which is totally based on the concept of carrying out transactions on the basis of chain . The information about transactions updates at all devices in the world simultaneously .
Even in the world of mobile app development , blockchain technology seems to be one of the growing area of technology and mobile app developers are actually using various tired and tested methods in order to bring out the best solution out of the blockchain technology .
Before moving further let me tell you that blockchain technology has become so popular that many of the website has started accepting cryptocurrency as payment for taxes .
In order to carry our any transaction using blockchain technology , peer to peer payment architecture is used rather than carrying out the old server based architecture .
So in order to get the best mobile application , a blockchain software development company who also has deep understanding of the concept of bitcoin can help you reaping the full benefits of blockchain .
Want to develop mobile app based on blockchain technology ? Hire a mobile app development company for it .
Let’s quickly look at some of the main reason for using blockchain technology with app development that together delivers the perfect match .

Blockchain Adds Digital Ledger System

Blockchain uses digital ledger technology that is backed up by expansive network technology , all sending and parsing data collaboratively . It works on chain module , wherein the information on one system is directly transmitted to other machines on network and at the same time it also ensures authenticity and consistency of information .

As in 2019 , wherein the data across the smartphone world is experiencing with very heavy traffic and everyone is relying on getting the data wirelessly , there may be the possibilities of loss of information being transmitted . Blockchain can help featuring advance storage and data streaming thereby improving data transmit significantly .

Transparency Features Creating More Secured Environment 

Transparency is one of the important function for any application to function properly , and it must be carried out in secured way . While taking take of transparency , security is another major concern in order to facilitate user with  tracking in secured environment , and thereby at the same time making it impossible to carry out any fake transactions .
Thanks to Blockchain ledger that facilitates you to see everything at one place . The information storage and categorisation all can be tracked , verified and secured at one place .
In case there is a situation wherein there is overflow of entries , blockchain has a special feature of expanding itself automatically . So what are you waiting for ? Hire a blockchain app developer for creating your next big tech app .

Also Read : How To Create Cryptocurrency Exchange Platform 

Digital Data Is Safe Even If Accessed By Multiple Users At A Time

Encryption is made very complex with the use of Blockchain technology . Every user in blockchain has their own decryption key and hence it is impossible for anyone to fool the system .
In some professions mostly in case of financial and legal , multiple signatures are required at different stages . Blockchain technology can help them with carrying out the transaction with ease by allowing multiple parties to communicate with each other .
We have already discussed that blockchain is decentralised network which implies their is no mother and father for storage and management of information which makes it unique from other apps technologies that are till now available in market . These decentralised applications are completely open source and there is a need to operate autonomously .
A mobile application created with the merger of blockchain technology is latest and most effective way to create application that reflect your brand shininess .
Winklix is leading mobile app development company facilitating blockchain based app development .

Planning A Positive Customer Experience Strategy With CRM

crm software development company

We are living in 21st century wherein the world is completely digitalised and we certainly have to interact with wide range of different brands . The best part is we have a complete access of all product and services with just a press of button . Custom pre check twice online , read reviews of product / service before taking any final decision to move ahead with it .

As per the recent reports almost 94 % of the buyers conduct some time of search online before purchasing . As google is the most widely used search engine , people use it to search and read online reviews . As a markup , online marketing and branding tool has become an important tool for business to reach buyers at early stages of their decision making .
As due to digitalisation all the information is completely transparent to buyers , their demands are not only limited to best price and fastest delivery , at the same time they are also searching for long term partnership with brand . They are more looking for a sense of personalisation feel with interacting with the brands .
As far as from the organisation point of view , in order to meet the customer expectation they have to follow an approach in which they can give easy and quick solution to issues faced by customer so that organisation can give a sense of customer satisfying and maintain their brand value . For a small business wherein there is limited resources , giving and maintaining a solution strategy is next to impossible . Thanks to software such as CRM while helps organisation of all sizes to get customer experience strategy on track . Lets quickly look at the benefits of using CRM to improve customer experience .

CRM Aids In Keeping Track Of Your Sales Cycle

With the help of CRM system , organisations can easily track their sales and follow up of customers with ease . It also ensures that no deal gets crack in between due to communication gap by automatic reminders , mails and follow up . It also helps the sales team is tracking their sales target , conversion rate and thereby intentionally improves customer experience to .
For instance the CRM system automatically provides prospectus to customers at different stages of sales cycle to give them a personalised experience , which may be related to general product information or past customer case studies .

CRM Also Helps In Storing Previous Customer Interaction 

Most of the CRM solution such as SalesForce CRM or even a custom CRM software development gives facility of sync and storing of emails together with punching of past conversation with the customer in the CRM which allows any person to see the progress through sales pipeline and which can aids you in dealing with the customer accordingly on the basis of past experience and records .
This CRM feature allows organisation to reach directly to customers in case of any issues which are faced by them therefore giving customer a sense of personalisation and satisfaction .
Facilitating all employees access to previous emails and conversation with customers can help to improve customer experience no matter to whosoever customer speaks to .

CRM Act As Helping Hand In Staying In Touch With Customer Regularly 

A CRM software also allow to set up your task and related reminders in CRM system so that it can help you remind and follow up with your prospectus . This helps us making a deeper relationship with customers and thereby increasing the conversation rate of sales .
It is not only beneficial for new prospectus , it also helps you to maintain a stronger relationship which increases the customer interaction rate .
Is is also always been proven beneficial to get feedbacks from customer on your product and services , thereby helping organisation to know about their pros and cons and take right step in improving that cons .

CRM Also Help Personalisation Of Marketing Content 

Apart from storing previous interaction of clients and all , CRM software also helps in creating and sending beautifully crafted marketing content to client directly , which is easily customisable .

End Point

In present world customers are expecting fro every business organisation a sense of personalised experience while buying any product/ services from them .  As a business organisation , a CRM not only helps in keeping track of your sales , but is also remind you to take regular follow ups and track progress , solving issues and more . Improve your customer experience strategy today with the help of Winklix custom CRM software development solution .