Inventory Database Software
Types, Key Features, Pricing
With 18 years in database development, ScienceSoft provides consulting on inventory database software.
Inventory database is a centralized repository for all inventory data in an organization. Database for inventory management software allows balancing inventory costs and risks against the desired inventory performance metrics.
Types of Inventory Databases
ScienceSoft creates inventory database software with unique functionality closely bound to our clients’ objectives. Here, we share a set of features commonly requested by our customers:
Key Functionality Illustrated
Inventory database requirements engineering & architecture design.
Inventory database project planning: timeline, scope of work, KPIs, etc.
Inventory database development and testing.
Inventory data migration (from spreadsheets or a previously used inventory system).
Integration with other systems, e.g., ERP, CRM.
Inventory database deployment.
For more information on the specifics and duration of each stage, please visit our detailed guide on inventory system creation.
With 32 years in custom software development and 17 years in database development, ScienceSoft can help you optimize inventory management with a custom inventory database by offering the following services:
Inventory Database Implementation: Selected Projects by ScienceSoft
Development of Supply Chain E-Collaboration Network for 1,700-Store Retailer Auchan
- An auto-updateable, scalable inventory database.
- Search engine with data filtering.
- Role-based access control.
- Real-time aggregation of inventory data from relevant sources.
- Advanced inventory analytics and automated report generation.
Customer’s benefit: high quality and relevance of inventory data, minimized risk of stockouts and overstocking.
Rapid Development of Inventory Management Software for Herbal Medicine Manufacturer
- Monitoring the herbs stock at the stages of harvesting, internal packaging and storing.
- Solution integration with an electronic scale for the automated upload of weighing information.
- The intuitive information layout for easy inventory database navigation.
Customer’s benefit: more convenient and efficient control over inventory data and operations at scale.
Development of a SaaS Module for Food Inventory Management
- A centralized database to add, manage and store data on raw food items, final products, recipes, product menus, manufacturers, and more.
- Assigning user-defined SKU values, such as unit cost, barcode, etc.
- Real-time inventory level monitoring.
- Automated updates of stock data upon inventory utilization for production and selling.
Customer’s benefit: optimized inventory levels.
Restaurant Inventory Management Software Development
- Permission-based access to the stock database for restaurant executives, managers and barmen or waiters.
- Web and mobile access to the up-to-date menu for restaurant guests.
- Drill-down dashboards to track, manage and transfer stock items.
- Inventory order management.
Customer’s benefit: streamlined inventory management, enhanced team productivity, improved client experience.
Management Software Implementation for a Beauty Stores Chain
- Integrating the POS system with the inventory solution for seamless updating of stock data.
- The ability to monitor up-to-date inventory levels across the stores.
- Role-based access to the store management module.
Customer’s benefit: enhanced visibility into the real-time inventory data.
ScienceSoft recommends integrating inventory database software with multiple corporate solutions to eliminate double data entry across disparate systems and build a resilient supply chain.
- Inventory database software + order management system: automatic transfer of inventory order details from order management software improves order distribution accuracy, simplifies recall management, and allows setting up custom order workflows.
- Inventory database software + inventory tracking solution (based on barcode, RFID or IoT technology): automated transfer of inventory items’ location data from an inventory tracking solution to an inventory database for improved inventory location and volume tracking.
- Inventory database software + CRM: automated transfer of inventory availability data from an inventory database to a CRM and sending order details from a CRM to an inventory database allows quicker sales order creation and invoice generation.
ScienceSoft’s consultants have defined a set of factors that help maximize ROI for inventory database solutions:
Powerful search engine
for convenient and fast inventory search by different parameters (name, type, batch, in-stock status, etc.).
Thought-out user experience
for inventory management teams to quickly input, search for, update, and request the required data.
Advanced data analytics
with predictive capabilities for data-driven, accurate demand planning, reduction of inventory overheads and stock outs, optimized storage, and faster deliveries.
The cost of the inventory database system implementation varies greatly depending on the functionality scope and the solution complexity. The investments range from $90,000 to $250,000 for a midsize organization, and from $250,000 to $400,000 for an enterprise-level organization with complex inventory management workflows. However, using low-code platforms can substantially reduce development costs of inventory database software. For example, average software development costs are 74% lower with Microsoft Power Apps
An average payback period for an inventory database solution with predictive analytics capabilities constitutes 0.7 years, with an average ROI of 160%.
Key financial outcomes
Direct cost savings
Indirect cost savings
It is advisable for your organization to opt for a custom solution in case you have complex inventory management workflows, the range of inventory types to manage is extensive, and the industry you operate in requires you to comply with inventory management requirements, e.g., ISO 9001:2015 (8.4.1; 8.4.2; 8.5.4). Also, a custom inventory database system is a good choice if you need to implement a specific integration with custom third-party systems.
ScienceSoft is an IT consulting and software development company headquartered in McKinney, TX, US. We help businesses improve inventory management processes by implementing inventory database solutions and providing accompanying consulting services. Being ISO 9001 and ISO 27001-certified, we rely on a mature quality management system and guarantee cooperation with us does not pose any risks to our customers' data security. If you are interested in our assistance, you are welcome to check our offer in database development.