Manage your Inventory with Delivery Management Software

Increasing customer expectations have turned businesses towards technology to streamline their operations and enhance customer satisfaction. Delivery management software is one such technological solution that has changed the way businesses manage their inventory. 

This blog will explore how delivery management software can help you optimise your inventory and its benefits.

What is delivery management software?

Delivery management software is an ERP (Enterprise Resource Planning) cloud-based software solution that automates and streamlines the delivery processes. These processes include order processing, inventory levelling, delivery management, payment collection and reconciliation and generating reports and analytics. 

The software offers three platforms that work together to provide real-time insights. These platforms include:

The admin panel

Features

• Order management
• Payment collection and reconciliation
• Inventory management
• Delivery Scheduling 
• Route optimisation
• Real-time delivery tracking
• Driver management
• Customer relationship management

The customer interface (App - Android and iOS and Website) 

Features

• Order creation
• Edit, cancel and reschedule orders
• Pause and resume subscription orders
• Live order tracking
• Real-time order status updates
• Payment reminders
• Multiple payment options

The delivery driver app

Features

• Daily task clarity
• Run-time order updates
• Create orders for new and existing customers
• Mark deliveries
• Record payments (cash and online)
• Proof of delivery
• GPS navigation

Read More: Track Last-mile Deliveries with Trakop – Delivery Management Software

Challenges faced by businesses while managing inventory

Inventory management is a major challenge in supply chain management. Without efficient inventory management, it becomes difficult to manage orders, which results in insufficient or higher inventory levels.

Some of the major challenges faced by delivery businesses are:

• Overstocking - Without efficient inventory management, you may have high inventory levels. Overstocking can cause product spoilage as a result of a failure to sell products on time. It also increases the cost of product maintenance.   
• Stockouts - Insufficient inventory levels due to poor inventory management can cause you to miss out on possible sales. It can affect sales and the overall profitability of the business.   
• Disparate data - Businesses managing their inventory on a different platform face data discrepancy issues. The inventory data difference can lead to inaccurate order deliveries, lowering customer satisfaction scores.  
• Wrong purchase time - Businesses often tend to make inventory purchases at the incorrect time without precise inventory reports. It causes overstocking of unnecessary goods, which raises storage costs by causing product deterioration.   
• Inaccurate inventory data - Manual inventory management is prone to human errors, leading to inaccurate inventory management. Inaccuracies in inventory reports can result in overselling. 

How does delivery management software help with inventory management?

Delivery software offers features that can help you optimise your inventory and prevent stockouts or overstocking, avoiding product spoilage or missing out on potential customers. 

Features of delivery software that help in managing inventory

• Inventory tracking - The delivery tracking software helps you track inventory levels efficiently. It determines inventory levels using customer orders and the initial inventory number. You can monitor these levels and place your purchase orders.    
• Reports and analytics - The system auto-generates inventory reports that include details of inventory available, inventory that is required to be purchased and total inventory required to fulfil customer demand. 
• Demand forecasting - The system enables you to determine the future stock requirement. It facilitates planning inventory purchases and maintaining the ideal level of inventory.    
• Purchase order management - The software's purchase order feature provides information about the specific products that must be bought to satisfy customer demand.  

Benefits of managing inventory with delivery software 

The software for delivery management provides tools for effective inventory management, enhancing your company's productivity, profitability, and efficiency.   

Some of the benefits of using delivery software for inventory management are:



• Prevent product spoilage - Accurate inventory management allows you to maintain optimal inventory levels. It helps in following a first-in-first-out inventory management model, fostering the usage of the product before its expiration. 
• Minimise financial losses - Product spoilage due to prolonged storage can lead to financial losses that are hard to recover. However, with precise inventory management, product spoilage can be controlled.  
• Backordering - This refers to buying inventory only when the previous stock is sold or ordered by the customers. The system generates future product demand reports, which helps businesses make purchase orders when the products are ordered or sold. It helps minimise the storage cost of the product.    
• Order accuracy - The fact that inventory data is stored in the centralised system reduces the chances of data disparity. Seamless data fosters delivering the right order to the right customers, improving the rate of order accuracy. 

Read More: Delivery Management Software – Features, Benefits and Mechanism

The Delivery management system is a great solution for businesses that want to improve their operational efficiency and productivity. Effective inventory management can help your business save costs and improve profitability. Contact us to learn about other features of our delivery software.