Adopting barcode inventory software is one of the best ways to streamline your inventory operations as an SME business in the Indian manufacturing sector.
By facilitating automation, inventory management system with barcode scanner can improve your inventory management efficiency significantly. In this article, we will evaluate some of the best barcode inventory software options available to SMEs in India.
By the end of this article, you will understand the features of a barcode inventory system for a small business and the benefits of a barcode inventory management system. We will also see the pros and cons of the five best inventory management software, and ensure you are better placed to make an informed decision for your business.
Best Barcode Inventory Software
When you are evaluating the market to find the right barcode inventory tracking software for your business, consider the following options:
1. TranZact
Built specifically for the SME manufacturing sector, TranZact offers a dedicated inventory management system with advanced barcode scanning features. It digitizes your entire manufacturing process with a suite of tools for quotations, transactions, production management, material requirements planning, and reporting solutions.
Features:
- Barcode scanning.
- Barcode label generation based on custom size and quantity requirements.
- Adjustable height and width of barcode based on business needs.
- Flexible user access for multiple users.
- Timely inventory alerts when stock exceeds safety levels.
- Integrates easily with current accounting systems.
Pros:
- This barcode warehouse inventory software is easy-to-use.
- Affordable pricing with a free-trial option to explore the platform.
- The cloud-based ERP system provides real-time analytics and reporting.
- Also offers GST-compliant invoicing and professional documentation.
- Top-notch customer support, and quick implementation.
- Business intelligence dashboard with smart graphs for quick insights.
2. Zoho
Zoho Inventory is a cloud-based inventory management software that provides inventory control, warehouse management, multi-channel selling, and order management solutions. It also offers complete CRM solutions.
Features:
- Label generation.
- Barcode scanning.
- Analytics and reporting.
- Capable of handling large volumes of orders.
Pros:
- User-friendly navigation.
- Exhaustive list of add-on solutions.
- Customizable and flexible.
Cons:
- Complex packages may lead to analysis paralysis.
- Not built for manufacturing businesses specifically.
- You have to purchase a complete suit, so you may have to pay for things you
3. MARG ERP 9+
MARG is an ERP solution known for its inventory management capabilities with features such as reorder points, expiry management, and inventory analysis. As a business process management software, it also offers accounting, invoices, quotations, and payment solutions.
Features:
- Enables direct order placement to suppliers and distributors online.
- Easy auditing and report generation.
Pros:
- Provides insightful analytics and reports.
- Built for small businesses.
Cons:
- Complicated onboarding process.
- Limited customer support.
- Not cloud-based, hence does not provide real-time updates.
4. BUSY
An integrated ERP and accounting software for SMEs, BUSY has been developed as on-premise software. For diverse business needs, it offers four different editions of the software. These editions include distinct features such as invoicing, accounting, inventory, statutory reporting, challan management, location management, voucher approval system, and more.
Features:
- Item barcode, point of sale billing, and payroll management.
- Timely alerts for follow-ups.
- Inquiry and support management solution.
Pros:
- This barcode inventory management system provides detailed checks for collaborative working.
- It's easy to use and doesn't need extensive training to adopt.
Cons:
- Not a cloud-based system.
- Caters to a wider audience over and above SME manufacturers.
Read Also - ABC Analysis in Inventory Management: Benefits, and Implementation Strategies
What Is Barcode Inventory Software
A barcode inventory software is a computerized system that allows you to generate barcodes, print and scan them. It equips you to update inventory with ease, as well as provides you with data-driven insights into your entire inventory management process. Effective inventory management is one of the most critical aspects of any manufacturing business. A barcode-based inventory management software allows you to improve the accuracy and overall efficiency of your inventory management efforts.
These tools are particularly useful for manufacturing companies, giving them real-time data, insights, and reports on inventory movement. A barcode inventory system for small businesses helps you identify potential inefficiencies and reduce overall costs, eventually leading to happier customers.
Benefits of Barcode inventory software
Your manufacturing business often needs to deal with complex operations that can be made more manageable with the use of the right tools such as barcode warehouse management software.
Here's an overview of the key benefits of using barcode inventory software for small businesses:
Increased Accuracy
You can ensure accurate stock updates and avoid unwanted scenarios such as overstocking or being out of stock by implementing barcode-based inventory management.
Efficiency Boost
Inventory and barcode software automates various inventory management tasks such as tracking levels of inventory and generating detailed reports. This makes your business more efficient and therefore, more productive.
Cost-Saving
A barcode inventory management software will increase your overall efficiency and provide a more accurate picture of your inventory. This allows you to eliminate redundancies, unnecessary delays, and expenses.
Enhanced Customer Satisfaction:
Barcode-based inventory management can help your operations identify areas of improvement, allowing you to maximize your output and fulfill more orders promptly.
Informed Decision-Making:
Accessing important information about your inventory and production processes using a barcode inventory system for a small business, will give you the insights you need to make better decisions.
Read Also - Understanding Consignment Inventory: Definition, Pros, and Cons
Key Features of Barcode Inventory Software
When you are evaluating the various types of barcode inventory software available, you need to know what features to look out for.
Here's a list to help you understand and make the right choice for your business:
Easy data import
Barcode tracking software enables you to transfer all the existing data from your current inventory management system into your new barcode inventory software, with minimal hassle.
Label generation and scanning
Generate physical labels and print them out as and when you need to. Your inventory software should also be able to scan barcodes from your scanner using in-app functionalities or QR codes (Quick Response codes).
Item details entry
An effective barcode inventory management software lets you punch in key details about each item such as quantity, location, expense, and associated photos to get complete details of the condition of each item.
Custom fields and folders
Your product line may vary across categories and often needs customized details to be entered. Your chosen barcode inventory software should have the ability to add custom fields and folders. This will allow you to organize your data in a way that works for your business.
Timely alerts
The barcode warehouse management software you choose should be able to alert you as and when necessary. Everything from low stock to possible overstocking and even alerts for scheduling equipment maintenance should be sent to you via live notifications.
Multiple user licenses
Regardless of the scale of your operations, your barcode tracking software should have the ability to provide key stakeholders within your team with their own user licenses, to ease workflows and save time.
Sophisticated reporting
A modern barcode inventory management system also enables you to stay on top of your entire inventory activities with detailed reporting across key factors such as items, categories, and even specific users.
Remote access
Make sure the barcode inventory software you select has an easy-to-use digitized experience. The software should ideally be cloud-based so that all the activity and updates occur in real-time.
Read Also - Best Free Inventory Management Software in 2023
How Much Does a Barcode Inventory Software Cost
The cost of barcode inventory software depends on the level of features and functionalities you are looking for and the scale at that your business operates. In the Indian market, SME manufacturing businesses that operate on a small scale can even opt for a free trial first and then upgrade.
This provides them with the opportunity to test the software and see if that particular barcode tracking software works for the business.
Based on operations and order volumes, the costs for barcode inventory software can range from Rs. 15,000 per month to around Rs. 40,000 per month. You can also opt for software that provides other functions for production, material planning, and order management in addition to a barcode feature for stock management. This may be available with premium plans at a slightly higher cost.
Read Also - Inventory Forecasting: Best Practices and Strategies for Effective Planning
How to Choose the Best Barcode Inventory Software?
When you are evaluating the best inventory management software with a barcode scanner for your business, consider the following as your criteria for selection:
Your specific business requirements
Every business has a unique set of challenges it faces and unique solutions it needs to overcome them. Evaluate the specific set of circumstances within your operations and choose a barcode inventory software that addresses them.
Features and functionalities
Armed with an understanding of your business needs, you can choose a barcode tracking software that has the necessary features that address these needs. From barcode generation to analytics on inventory movement, look through the entire process and find a solution that fills your gaps.
Scalability
You may have a small business today, but what happens when you need to scale and scale fast? Does the barcode inventory software you are evaluating have the ability to scale with you and do it with ease? Do consider the scalability of your solution as you evaluate the market alternatives.
Ease of use
A barcode inventory software does not add value if your team is unable to use it effectively. You don't want to end up investing in something only to see it lack adoption because it's just too complicated to work with.
Cost and ROI
A major consideration when evaluating barcode inventory systems for a small business will be the cost of investing in this software. When looking through the lens of cost, make sure you also factor in the return on investment you can expect, so you never forget the bigger picture.
TranZact - Best Barcode Inventory Software in India
TranZact's barcode inventory software for SME businesses is one of the most popular choices for business owners in India. It comes with a comprehensive inventory module with barcode features that enhance your inventory management efforts, saving you time and money.
With this software, you can also enable automated barcode prompts whenever you update your inventory. It also equips you to custom design your barcode labels with preferred margins and spacing options and identifies which fields you want to show on the labels like item ID, barcode number, or company name.
Starting with an easy onboarding process on TranZact, you can enjoy seamless integration with all your existing systems. With a dedicated team of customer support specialists and a free trial, you can maximize your operational productivity by adopting TranZact as your preferred barcode inventory software.
FAQs on Barcode Inventory Software
1. Which is the best barcode software?
TranZact is the best barcode software, especially for SMEs as it provides an affordable and advanced barcode inventory solution. It offers automated barcode prompt options, and real-time inventory insights and reports, to save time and resources for SMEs.
2. What is a barcode inventory system?
A barcode inventory system is a system that uses barcodes and barcode scanners to manage and track the inventory of a business. It typically includes a database that stores information about each item in the inventory, such as its name, price, and location.
3. How does barcode inventory software work?
Barcode inventory software works by assigning unique barcodes to each inventory item. When items are received or sold, they are scanned using barcode scanners, and the software automatically updates the inventory database with the relevant information, such as quantities, locations, and timestamps.
4. Is barcode inventory software suitable for small businesses?
Yes, barcode inventory software is beneficial for businesses of all sizes, including small businesses. It provides an affordable and scalable solution for accurate inventory management, eliminating the need for manual data entry and reducing human errors.
5. Can barcode inventory software generate reports?
Yes, barcode inventory software can generate various reports for businesses, such as inventory levels, stock movements, sales trends, and item valuation. These reports provide valuable insights for decision-making, planning, and identifying areas for improvement.
6. What are the benefits of barcode inventory software?
Using barcode inventory software helps to update inventory counts and keep track of which items are in stock. It improves accuracy, enables faster inventory counting and traceability, reduces manual errors, and enhances inventory visibility for streamlined inventory management processes.
