Inventory Management System is the process of tracking goods throughout the supply chain, from purchase to production to final sale. It controls how you approach your company’s inventory management. Many cloud-based apps have basic inventory management capabilities. It’s not a comprehensive tool available with dedicated software, but for many, it’s a natural next step from spreadsheets. However, you may need a spreadsheet to meet your specific needs. Here are top 10 Inventory Management Software in Malaysia listed below.
1.NetSuite
NetSuite system has features such as general ledger, cash management, tax management, accounts receivable and payable, asset management, and payment management. NetSuite is a cloud-based system that can be accessed with an active internet connection. No installation or download is required to use the software. Users can use key performance indicators to view analyzes such as accounts receivable, accounts payable, sales, and total bank balances. NetSuite can be used by companies of all sizes in any industry that require financial management software. NetSuite does not publish pricing information. Contact Oracle for starting prices and available plans or tiers. NetSuite has apps that are available on both iOS and Android devices.
2.Label LIVE
Label LIVE is an easy-to-use label maker app in Malaysia for Mac and Windows. It is designed to save users time and money when printing labels with DYMO, Brother, ROLLO, Zebra, or other thermal label printers. Downloading the app is easy, users can set the label size, add text and images and click Print to create a label design in 30 seconds. For labels with barcodes, the user simply selects the barcode type and enters a value. To transfer individual label data from a spreadsheet, users can import files and add fields to their designs. Support for Label LIVE is provided in the email and video tutorials.
3.Mymediset
Mediaset is a cloud-based software solution for medical device management. The platform supports healthcare professionals in the management, ordering and tracking of medical devices. The software also handles the distribution and booking of rental packages. Supports warehouses and logistics with device tracking and inventory management. Mymediset Software Suite streamlines the medical device warehouse management process. The warehouse can access the cloud platform and capture device details from any location on any device. This software helps warehouses manage inventory by tracking serial and lot numbers. The platform also identifies damaged or expired products. The product management system ensures cost and revenue transparency through automated audits. The software uses a flexible depreciation model that is industry-specific and suitable for medical loan packages. Users can also customize the platform to meet the specific needs of the medical loan kits and equipment they offer.
4.Breeze ERP
Breeze ERP is an ERP in Malaysia for small businesses that helps you integrate all your business processes in real-time with full control and transparency at the same time. Breeze is ideal for the manufacturing, retail and distribution sectors. With GSTready modules such as accounting, finance, salary, retail and point-of-sale, inventory management, sales and billing, CRM, project management, and service management, companies can get a comprehensive solution at Breeze and focus only on growth.
5.POSist Stock & Inventory
Restaurant management experts can use POSist Stock & Inventory to ensure that all stores have the inventory items needed to maintain proper operation. The software in Malaysia is designed to display the inventory needs of each POS in a single panel. It also provides the ability to periodically notify users of their current demand. For example, you can set a beep to notify you when a perishable item is nearing its expiration date or when a particular stock reaches its scheduled reorder date. Centralized recipe management is ideal for users who want to be consistent with the food served in different restaurants. This allows all retailers to update the recipe at the same time. When an item is used in a recipe, the tool will automatically deduct inventory. Data points such as article yield, order size, and deviations between actual inventory and ideal inventory levels can be accessed using the software.
6.AlignBooks
The online version of Align Books helps users save money when compared to other LAN infrastructure, virus protection, and data protection tools. The offline version also provides a smart solution for customers who want to save money by maintaining accounts for multiple companies at the same time. When manufacturing on-demand, the inventory management process begins when the company receives a customer’s order and continues until the order is shipped. Other parts of the process include analysis of sales trends and organization of product storage in the warehouse.
7.Vyapar
Vyapar is GST compatible billing and accounting software in Malaysia. You can perform GST invoices, quotations, order creation, GSTR reporting, payment/expense tracking, inventory management, and other normal business tasks directly from your smartphone without the internet. You can also customize your invoice with WhatsApp, share it with parties, and collect payments directly online. This application provides the ability to track unpaid invoices and send payment reminders so that payments can be collected more quickly. You can instantly check your inventory, check your inventory live, activate out-of-stock alerts, and track the complete quantity and value of your inventory, along with information such as expiration date, batch number, and more. The software can be downloaded from the Vyapar website and installed on your Windows desktop. Users access the tools from the main screen to create and share custom sales invoices, track inventory and orders, record tax filing expenses, and more.
8.Cryotos
Cryotos makes it easy for facility management, service management, maintenance and field service management companies to intelligently manage work orders, planning / preventive maintenance, equipment and inventory to optimize costs. Become. Its work order maintenance app Cryotos is a mobile-first smart solution that not only helps you monitor systems/processes but also improves the efficiency of planning and implementation of maintenance management processes. Cryotos – Key Functions: Dynamic Workflow Management, Dynamic Checklist Management, Preventive Maintenance Planning, Work Instruction Management, Resource Management, Asset Management and Service Management, Offline Work Capability, etc.
9.XERO
Xero is an accounting system in Malaysia designed for small and growing businesses. Xero connects small businesses with trusted advisors and provides business owners with immediate insight into their financial position. As a web-based solution, Xero can be accessed from any device with an active internet connection. Xero’s robust accounting capabilities allow small businesses to view cash flow, transaction, and account details from anywhere. All bank transactions are automatically imported and encoded. Online invoice payments help you track expenses, track invoices, and improve relationships with vendors that provide important business materials. Xero can also manage personal expenses through mobile review and approval of each receipt. Xero offers unlimited user assistance and integration with various systems such as ADP, Bill.com and Vend. This solution comes with a 30-day free trial period for product testing and feature evaluation.
10.UpKeep
UpKeeps CMMS is the latest maintenance and asset management solution for teams. From desktops to mobile phones to tablets, UpKeep is easily accessible anytime, anywhere. Create work orders on the go, get notified when tasks are updated, and get notified directly from the app when your assets go down, so your business runs more efficiently than ever before. UpKeep provides basic maintenance functions such as asset, inventory and work order management, as well as preventive maintenance to create a service plan. Users can view a task summary page showing upcoming work, along with due dates, importance, resources, or assigned employees. When adding new tasks, users can add notes, colour-coded priority ratings, photos, assets, and users. The mobile application allows users to create projects, assign work orders, manage assets, and more. UpKeep was developed for small businesses in a variety of industries. UpKeep offers monthly subscription services including phone, email and online knowledge base support.
Importance of inventory management system:
Inventory management is essential to corporate health as it ensures that inventory is rarely too high or too low and helps limit the risk of out-of-stock and inaccurate recording. Listed companies are required to track inventory as a requirement to comply with the Securities and Exchange Commission (SEC) and Sarbanes-Oxley (SOX) laws. Companies need to document their management processes to demonstrate compliance. Inventory management helps identify when and how much inventory a company needs to order. Track inventory from the time an item is purchased until it is sold. This practice identifies and responds to trends, ensures that there is always enough inventory to fill a customer’s order, and warns of shortages promptly. Once sold, inventory turns into revenue. Inventory binds cash (although it is reported as an asset on the balance sheet) before it is sold. Therefore, too much inventory is costly and reduces cash flow.
Outlook:
Understanding inventory trends means checking the quantity and location of your inventory so that you can make better use of it. This allows you to access from anywhere to process your orders, reducing inventory at each location (store, warehouse). All of this reduces inventory costs and reduces the amount of unsold inventory.
