Use appropriate means and optimize your supply chain to manage your finances better and avoid material wastage. Maximize your operational efficiency and ensure your products are nothing less than the best quality by securing extensive material management software. Learn more about this software technology and choose yours from the list of key players in this article.
22+ Material Management Software
1. Busy Accounting
2. Torqus POS
3. Astral Inventory Management System
4. EAMbrace Inventory Management
5. Microgenn Hotelier HMS
6. Medico SG
7. Horizon ERP
9. Tick Software
11. Torqus Online Ordering
13. Torqus SCM
17. Mink Foodiee
19. Focus MRP
21. SPINE BMS
22. Novatek International
What Is Material Management Software?
Material management software is a digital solution you can integrate with your existing applications to track and manage the flow of your materials more efficiently. This software helps supply chain companies streamline their materials management operations during the manufacturing execution process. It covers the procurement processes and includes complex inventory management processes in the scope of services they offer.
Also, it stores essential data in its database and gathers data analytics across multiple platforms, helping users gain actionable insights when they develop and implement their plans. In addition, it has capabilities for forecasting demands for better control over your inventory levels.
This modern solution will help you employ more agile methods to replace and improve how you traditionally complete your material management processes. It improves results and helps your organization cut costs and save time while covering more of the work involved. Additionally, its workflow automation capabilities streamline repeating manual tasks.
When you look for the software that will suit your organization and one that aligns with your needs, you look at more than just their interface design. It entails studying the current material management trends and analyzing the gaps in your processes. Considering how the software you decide on can impact the material life cycle, ensure to look into the essential elements, including their pricing structure, software packages, and the following features:
- Inventory control functionalities
- Custom dashboard
- Powerful reporting tools
- Order management features
- Transportation management tools
- Procurement management capabilities
- Product categorization capabilities
- Distribution management features
- Budgeting and forecasting tools
- Third-party applications integration
Top 10 Material Management Software
Billing & invoicing tools and financial reporting functionalities are features you can use in this accounting software. They have generated a revenue of 21.4 million dollars and have employed 102 people.
2. Busy Accounting
This inventory management system has purchase order management and expense tracking capabilities. They have 18.4 million dollars in revenue and have 127 people on their team.
3. EAMbrace Inventory Management
With this platform, you can use digital tools for simplifying asset management and manufacturing management. They have employed 48 people and have a generated revenue of 7 million dollars.
4. Torqus POS
This digital solution has functionalities for stock management and sales tracking. They have a revenue of 6 million dollars and have 33 employees working for them.
5. Microgenn Hotelier HMS
Using this digital solution will improve your maintenance management and database management processes. They have 31 people working for them and have 6 million dollars in generated revenue.
6. Astral Inventory Management System
With this platform for inventory management, you can streamline barcode printing and serial number tracking. They have estimated revenue of 5 million dollars and have over 25 employees.
Capabilities for delivery tracking and payroll management features are accessible in this software. They have 28 people in their team and have a generated revenue of 5 million dollars.
8. Tick Software
Tick Software offers functionalities for production management and quality management. Tick Software has a generated revenue of 5 million dollars and has employed over 25 people.
Zenscale is an ERP platform with software features for improving production planning and financial accounting. They have 2.2 million dollars in revenue and have 15 employees.
10. Horizon ERP
Horizon ERP is a distribution software with warehouse management and recipe management capabilities. They have a generated revenue of 1 million dollars and have seven employees in their team.
What are the major components of material management?
Material management deals with and involves plenty of aspects in the manufacturing process. Although, it has components that make up and impact most of the material life cycle. The task of managing contracts with suppliers is one of them. Also, it includes logistics management, supplier relationship management, inventory management, and store management.
What is inventory management?
Inventory management refers to tracking inventory, from raw materials to the completed products, throughout the supply chain. It entails studying data and making data-driven predictions for ensuring your organization can keep up with the changes in the market demand. The main goal of this practice is to make sure you have enough inventory levels to fulfill orders from customers.
Why is material management essential?
Materials management is essential to ensure that you can secure materials that are up to par with your standards. Also, developing a material management strategy will help you avoid paying unnecessary fees and overpriced materials, allowing you better control over production costs. Another reason is it helps you determine the best practices for stock management and storage space utilization.
Anchor your processes following the appropriate direction and guarantee materials of the best quality and right quantity by generating and implementing a foolproof material management strategy. Achieve this feat while breezing through the complex and taxing processes involved by making the choice today and allocating your resources to the best material management software.
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