As demand grows, challenges crop up simultaneously, and only the best survive the tidal onslaught of competition in the ever-growing business market. Along parallel lines, inventory management has come a long way from its inception as manual bookkeeping. Effective inventory management has become necessary for businesses that aspire to stand among the top as it displays its panache when it comes to maintaining and keeping track of stocks, identifying demand patterns, anticipating customer requirement, and projecting customer satisfaction, ultimately leading to productive trade management and astounding success stories.
Current trends point toward a rise in hybrid warehousing and cloud-based data storage that aim at reducing the expenses involved and increasing the convenience in storing materials. The blockchain technology is a new entry into this arena, and it has been revolutionizing every idea since its arrival. Smart contracts are already automating processes to reduce human errors, which have been scourging inventory management. With the retail industry banking on online paradigms, customers have moved toward portability and to cater to them adequately, omnichannel shopping experiences are increasingly becoming normative. RFID systems for tracking individual shipments have piqued the interest of businesses not only because they help to keep track of stocks, but also as they prove to be a prominent defense against theft.
Smart, on-the-go inventory management solutions for handheld devices—including smartphones and tablets—for sending data across platforms have a definitive chance at becoming mainstream.
To facilitate CIOs in realizing the right inventory management solution, a panel of CEOs, CIOs, VCs, and analysts, together with the Logistics & Transportation Review editorial board has assessed several inventory management solution providers and picked the best-performing companies. The companies featured here display prowess in tending to the emerging needs of fleet owners and warehouse managers. We present to you Logistics & Transportation Review’s “Top 10 Inventory Management Solution Providers - 2019.”