Manufacturing companies need to build a collaborative network that increases the visibility of their supply chain and inventory planning. TCS (Tata Consultancy Service) and TranZact aim to provide the most reliable inventory management solutions that help automate the manual tasks involved in manufacturing.
In this blog post, we will do a comparison of TCS vs. TranZact based on their functionalities and features of inventory management. It will help you find the best option for your inventory needs.
Read Inventory vs. Stock: What’s the Difference & Why It Doesn’t Really Matter.
What Is Inventory Management Automation?
Inventory management automation is the process of managing and controlling a company’s stock through a digital system. The software offers options like inventory tracking, sales manufacturing, etc., that have facilitated the digital transformation of the manufacturing industry. You can have automated inventory tracking to monitor your stock level, schedule the procurement cycle, and effectively manage the supply chain.
Learn What Is Inventory Management? Types, Benefits, and Techniques Explained.
Benefits Of Automating Inventory Management
Manual inventory tracking is often time-consuming and can have human errors. Automating inventory management can reduce errors by providing several benefits, as discussed below.
1. Reduced Errors: The automated inventory management system makes an accurate count of the inventory as soon as the supplies are shipped or received.
2. Increased Efficiency: Maintaining inventory on a spreadsheet can be time-consuming. The automated system increases efficiency with quick data updates when goods are received or sold.
3. Real-Time Visibility: The automatic inventory tracking software provides a centralized dashboard that provides greater visibility of stock levels in real time.
4. Accurate Forecasting: Reports and analytical data on the market demand can help you to determine the procurement of raw materials and avoid situations like stock outs or stack overflow.
5. Improved Decision: It allows manufacturing SMEs to access the inventory level in real time and make decisions to manage the stock in important conditions.
6. Reduced Costs: Manufacturing businesses need to hold enough stock to meet the customer's demand, which can cause warehouse carrying costs. These can be reduced by managing the inventory stocks as per the market demand.
7. Multi-Warehouse Management: Inventory management automation allows you to manage multiple warehouses through their centralized dashboard and effective barcode inventory system.
8. Simplified Scaling: The automated inventory management software allows you to grow business with inventory requirement changes, which is often difficult to manage.
9. Improved CRM:** Managing growing demand by accessing accurate inventory data and maintaining stock levels helps you achieve lead times. This improves CRM by reducing the return and replacement of goods.
To learn more about the benefits of Inventory Management click here.
Overview Of TCS In Inventory Management
TCS (Tata Consultancy Service) provides an effective inventory management solution for SMEs and big enterprises involved in manufacturing. TCS Inventory Allocation is a leading inventory planning and distribution management solution. The software contains market channel order management, order recommendations, and business rules for inventory allocations.
It is a cloud-based inventory management system that helps to collaborate with suppliers, stakeholders, employees, and customers under one platform. It features real-time inventory tracking that helps you to determine the market needs and a no-human intervention inventory planning system to minimize the risk of stockout and stock overflow.
Functionality And Capabilities Of TCS Inventory Solutions
TCS inventory management system provides effective solutions for inventory tracking and distribution in several industries, such as healthcare, banking, consumer goods and distribution, and many more. The primary focus is to streamline the distribution channel and warehouse management.
1. Real-Time Inventory Tracking
TCS is an AI (Artificial Intelligence) powered inventory management solution that allows manufacturers to predict future inventory needs through advanced analytics to streamline sales and deliveries. Inventory control in TCS helps automate the recording-keeping process to make sure a sufficient stock level to avoid overstocking or stockouts.
2. Streamline Supply Chain
TCS inventory management software offers a centralized dashboard where you can collaborate with suppliers for better inventory control and cost management. One can easily integrate with logistics providers and gain reports on shipments and distributions. Its end-to-end visibility features allow you to gather complete supply chain information from production to deliveries.
3. Accurate Reporting
TCS allows you to customize your dashboard to monitor your KPIs (Key Performance Indicators). It provides AI analytics features that provide insights into inventory trends and performance. TCS reporting tools can generate detailed reports on inventory audits, compliance, and financial analysis.
4. Offers IoT Integration
TCS automated inventory management software allows the implementation of RPA (Robotic Process Automation) to reduce repetitive and manual tasks. It provides integration of IoT (Internet of Things) devices for real-time data collection and monitoring. Such integration also allows preventative maintenance to avoid equipment failures.
Introduction To TranZact Inventory Management
TranZact is one of the best automated inventory management software specially designed for manufacturing businesses in India. It helps you automate the entire inventory management process, from procurement of raw materials to dispatching the goods. The TranZact warehouse management module allows you to track inventory available at multiple warehouses and monitor their performance.
The software can be easily integrated with popular software like Tally and BusyERP to streamline processes. One can easily create e-invoices, e-bills, and delivery challan by following the GST (Goods and Service Tax) compliance. Being a cloud-based software, TranZact offers effective record-keeping with remote data accessibility.
Functionality And Capabilities Of TranZact Inventory Software
When we compare TCS vs TranZact inventory management, both software features almost the same functionality, such as inventory tracking and multi-warehouse management. However, TranZact has some additional features like a more user-friendly interface, mobile app, and many more, which are discussed below.
1. Effective Inventory Tracking
TranZact offers digital transformation of inventory tracking, where you can track stock levels in real-time while managing sales, purchases, and returns. It automates the recording keeping to prevent stock overstock and maintain optimal inventory levels. Using TranZact you can set min/max levels and solve reordering challenges.
2. Multi-Warehouse Management
TranZact is known for multi-warehouse management, which allows inventory to be managed across different locations. It provides you the option to set up min/max stock levels across multiple warehouses. TranZact inventory management system allows manufacturers to maintain data for transferring goods in different warehouses within the organization and dispatching the products as per the market needs.
3. Batch And Expiry Management
You need efficient inventory management tools when you need to maintain a huge inventory. TranZact allows you to track inventory by batch numbers. You can easily monitor their expiry dates to make sure timely sales and avoid waste.
4. Product Categorization
Inventory control in TranZact allows products to be organized into categories and subcategories. This feature makes it easier to navigate and manage huge inventories in manufacturing businesses. It also helps you make quick decisions when you follow FIFO, LIFO, or other inventory management strategies.
5. Barcode Integration
The integrated barcode inventory software in TranZact software allows quick scanning and updating of inventory data. This digital transformation helps you reduce manual data entry, decrease errors, and streamline inventory management operations.
6. Reporting And Analytics
You can generate 40+ detailed reports about inventory levels and monitor them from TranZact's centralized dashboard. You can further analyze stock levels, turnover rates, and more key metrics to make better decisions.
7. Supplier Management
The user-friendly centralized dashboard of the TranZact inventory tool allows you to collaborate with different suppliers and manage their information and purchase orders in place. You can track their performance and delivery timeline and even contact them when you need to place immediate orders.
8. Integration With Others
TranZact offers easy integration features with ERP tools and other sales and purchasing modules. You can integrate it with third-party software like Tally, Excel, BusyERP, and more, which are used to manage different aspects of your manufacturing business.
9. Mobile Accessibility
TranZact allows easy data access through laptops, smartphones, or any similar devices using the Internet. The software is available to operate on Android, iOS, Windows, Linux, and MacOS in-app and web format.
Feature Comparison Between TCS And TranZact Inventory Management Software
TCS Inventory Management Software
TCS is an effective inventory management software for manufacturing businesses. It helps you easily plan materials and manage production processes. It allows you to use RFID and barcode systems for accurate tracking and managing sales orders and invoices. Other features offered by TCS are creating GST invoices, sales quotations, sales orders, and other invoicing.
TranZact Inventory Management Software
TranZact is an inventory management software designed especially for Indian SMEs. It offers various features to improve your inventory management processes. It includes Material Requirement Planning to improve your accuracy in production management. Its RFID and barcode integration helps you with accurate inventory tracking and management. TranZact sales order and invoicing capabilities also help you process transactions effectively.
TranZact purchase management feature helps you improve your company’s procurement operations. It has an easy to use sales quotation function that can accurately track income and expenses. TranZact also offers e-way billing for logistics, multi-level bills Of materials (BOM) creation, and multiple warehouse management features.
Also read Comparison between Odoo Inventory vs TranZact.
Future Outlook For Inventory Management Automation With TranZact
TranZact is a digital tool used by Indian SMEs to track inventory and perform other business operations. In the feature comparison of both the software, TranZact inventory management is more effective in delivering fast results with its automatic UI and modules.
Find out How does TranZact help you Manage Inventory Efficiently?
It helps you automate stock management right from customer enquiry to sales dispatch. Its multi-warehouse management system helps you track large inventory at a place and update them in real-time. With all these features and benefits, make sure you choose TranZact for all your inventory management requirements.
FAQs
1. How do TCS and TranZact differ regarding features and functionalities within their inventory management software?
TCS and TranZact differ in features and functionalities within their inventory management software in the following ways:
- TCS is ideal for large enterprises, whereas TranZact is designed for Indian SMEs.
- TCS needs high customization and training, and TranZact is easy to operate and simple to use.
- TCS has advanced AI technology, and TranZact has basic to moderate technology.
- TCS cost is comparatively higher than TranZact.
2. What technical expertise or training is required to effectively utilize TranZact inventory management solutions?
TranZact comes with easy navigation that doesn’t require specific technical expertise. The widely available learning resources like user manuals, online tutorials and webinars, customer support, and community forums will help you effectively utilize the full features of the TranZact inventory management tool.
3. Can businesses expect significant cost savings by transitioning to automated inventory control systems offered by TCS or TranZact?
Yes! The automated inventory control system offered by TranZact or TCS helps you reduce human resources and time, which is directly related to saving huge costs.
4. How does TranZact address concerns regarding data security and system reliability within their automated inventory control platforms?
TranZact addresses concerns regarding data security and system reliability within the automated inventory control platforms through the following features:
- Multi-level security
- Anti-malware, patching, and configuration management
- Access control
- Data encryption
- Cryptography and encryption
5. What are the primary benefits of implementing inventory management automation?
The primary benefits of implementing inventory management automation are:
- Real-time inventory tracking
- Improved inventory control
- Streamline supply chain management
- Detailed reports and analytics
6. How does TranZact approach inventory management compared to TCS?
TranZact's approach to inventory management, compared to TCS, is focused on providing affordable inventory management systems to Indian manufacturing companies that are easy to use and can improve productivity.
7. What are the key factors to consider when choosing between TCS and TranZact for inventory automation?
Key factors to consider when choosing between TCS and TranZact for inventory automation are:
- Business size and type
- Complexity of operations
- Scalability
- Feature requirement
- API integration
- User experience
- Customization
- Budget
- Support and maintenance
