Do you have enough stock to meet customer demand? Do you need to accurately manage your inventory levels? Inventory is products you've paid for and need to sell in order to meet customer demand and generate income. You want to manage your inventory well so you don't incur any losses.
Some inventory consists of perishable products, while some does not. Inventory represents money you have invested in your business so it can bring you profits. Inventory also represents future cashflow. If you're still using instinct or spreadsheets to manage your inventory, then you are bound to make mistakes that will result in losses, which means negative returns on your investment.
You can invest in a PHP stock inventory management system that allows you to keep track of your inventory and see accurate inventory levels in real time by automating your inventory management processes. In addition, whenever you sell or ship products, they will be deducted from the inventory so you continue to see an accurate stock count. You get stock alert notifications when your stock is low, purchase orders, stock reports, etc.
On CodeCanyon, you will find inventory management PHP scripts that will simplify how you manage your inventory and save you the headaches that come from inventory shortfalls.
In this post, we'll look at some inventory management PHP systems that stood out for me.
Most inventory management systems are comprehensive POS systems with advanced inventory stock management modules. Others are inventory management systems with POS modules. However, in this list you'll find a few standalone inventory systems.
Invest in a PHP stock inventory management system that allows you to keep track of your inventory and maintain healthy inventory levels by automating your inventory management processes. With a cheap one-time payment, you can purchase one of these high-quality Inventory management PHP scripts available on CodeCanyon for 2021.
Some advantages of using management systems include:
- manage multiple warehouses from one centralized point
- instantly find out where items are located, their quantities, and more
- update and sync all your inventory in real time
- receive stock alerts when your inventory is running low and make purchase orders
- know your best-performing and worst-performing products
- accurate planning and forecasting reporting
- happy customers
Best Stock PHP Inventory Management Systems
Let's look at some PHP inventory management systems that will take the headache out of managing your inventory.
1. Bestseller: Stock Manager Advance with Point of Sale Module
Stock Manager Advance with Point of Sale Module is a web-based, multilingual PHP online inventory system. With built-in invoices, this system allows you to manage your sales and inventory on site. It is customizable by choosing from three responsive, touch-screen-friendly theme styles.
With the invoice system, you can apply taxes and discounts automatically and generate an invoice from a quotation. With the inventory system, you can manage multiple warehouses, keep track of your stock per warehouse, make purchases, and view sales data from any location: the office, at home, in the warehouse, or on your mobile devices.
The dashboard gives you an overview and bestseller charts. It also gives you the latest five sales, quotations, purchases, transfers, customers, and suppliers. You can transfer products from one warehouse to another by CSV in the import and export options.
The system also comes with comprehensive reports that include a warehouse stock chart, product quantity and expiry alerts, purchases, sales, customers, suppliers, and staff users.
Check out Stock Manager Advance with All Modules if you're looking for a stock manager with all the modules, not just POS.
2. Bestseller: Stock Manager Advance
Stock Manager Advance does not come with a POS module, but it has all the features of the Stock Manager Advance with Point of Sale script that we just looked at.
Also check out Simple Stock Manager if you're looking for a standalone simple inventory system that does not include POS or other modules.
Ultimate POS is the most adaptable and comprehensive business system that includes point of sale, invoicing, and an advanced stock inventory management module. This powerful, robust system can manage multiple businesses, storefronts, and warehouses. You can determine users' level of access to the system according to their roles.
You can manage single or variable products, assign them predefined SKUs, or autogenerate your own SKUs. Some products have special tax categories, and you can categorize them according to tax rates or tax groups. Also categorize products according to brand, serial number, or lot number with expiry.
The system sends alerts for expiry and low stock by email or SMS, so you can place your purchase orders in advance. You can apply taxes, discounts, and shipping charges automatically on your purchase order. You can quickly add products on the purchase screen. You will be notified about expected purchase deliveries a week before the pay date. You can also save time by auto-calculating the selling price based on the purchase price and profit margin. The system also allows for stock adjustments.
SaleProPOS is a PHP stock inventory management system built using Laravel. It allows you to manage your inventory, purchases, sales, customers, and invoices, as well as taking payments and much more.
It works both for standard and digital products. You can organize products by category or barcode and even import CSVs.
The inventory system allows you to manage warehouses, warehouse stock, and product quantities, including expiry alerts and low stock alerts, and transfer products from one warehouse to another.
You also get an overview of all your suppliers and the products you buy from them. You have instant access to comprehensive purchase reports and best-seller reports by day, week, and month. You can import CSV files of all your purchases and instantly update your stock.
The system comes with detailed documentation.
Geo POS is a comprehensive system packed with all the features needed to run a business, including a comprehensive point of sale solution, CRM, HRM, invoicing, inventory management, and more.
When it comes to inventory, you can manage warehouses, track stocks by categories, see product variations, and receive email alerts for low stock. Purchase orders are integrated into the inventory manager, and you can send purchase orders with your stock requirement to suppliers. In addition, you can get records of purchase orders and payments to suppliers.
The application has a ready-to-use REST API server, so you can link it with other applications. It integrates with popular payment gateways including Stripe, 2Checkout, PayPal, RazorPay, SecurePay, and more.
6. Trending: Ultimate Inventory With POS
Ultimate Inventory With POS is a PHP- and jQuery-based web application that allows you to manage your sales and stock. You can customize screens, forms, and reports by choosing from 12 color themes and responsive templates. The dashboard gives you an overview of stock and sales, including stock alerts when you're running low on inventory. You can also create staff roles with different levels of permissions granted. You get instant access to purchase reports, payment reports, sales reports, and more.
When it comes to inventory, you can manage products by categories, brands, and SKUs. Product management includes photos of items, category, stock and quantity updates, and managing items by barcode. An integrated SMS API allows you to set up this system to send stock alerts via SMS.
You can add, edit, and delete suppliers. Import supplier information including the products they sell, lead times, and terms of payments, so that you don't have to enter it all manually. As for purchases, you can create purchase and purchase return invoices and payments. Purchases can include discounts on items and payment methods.
You can use this PHP stock inventory management system in 14 languages, including Hindi, Marathi, Italian, Arabic, Spanish, and Russian. It works with multiple currencies and has an Easy POS system for faster billing.
Gain POS is a fast and easy-to-use sales, purchase, and stock management app. It can be adapted to different kinds of businesses, including retail and restaurants, thanks to different reports and configurations which can make it suitable for your business.
It supports a barcode scanner, so you can scan a product and add it to the cart. Also, you don't need to worry when you lose internet access. It supports offline sales and can sync all transactions when your signal is back.
Some of the inventory features include:
- auto-calculate stock
- multiple locations and branches
- product variants
- import opening stock
- import products and customers
- export all reports
Gain POS is developed using Laravel 8.1, Vue.js, and a MySQL database. It’s easy to install, and you’ll get free updates forever.
Modern POS is a responsive multilingual POS with stock management system that will help you to manage the stock and sales of your shop easily. You can add unlimited user roles. It has a multiple store feature, works with multiple currencies, and supports barcode scanners.
You can generate quotations, put orders on hold, and import products with Excel. Reports can be printed, emailed, or downloaded in PDF format. Modern POS has an offline to online synchronization, so you don't need to worry about losing any information you enter when your internet is down.
You can now integrate inventory management into your Perfex CRM and track goods across your business’s supply chain. It optimizes the entire spectrum, from order placement with your vendor to order delivery to your customer, mapping the complete journey of a product.
These are just some of the things you can do with this module:
- manage goods, with sorting by warehouses and expiry date
- import and export goods to the warehouse
- view the entire warehouse transaction history
- link inventory notes with invoices
- adjust the quantity in stock or report the loss of goods
It comes with detailed documentation to help you upload and activate the module inside Perfex CRM. You can learn how to use the Inventory Management for Perfex CRM module in this inventory management training video.
A cutting-edge system like Wholesale streamlines wholesale operations. First, the integrated POS and QR code invoicing makes it easier to sell to your distributors and accept a wide range of payment options. The built-in customer management system allows you to smoothly manage distributor accounts, see what products they are buying and in what quantities, and keep track of your inventory levels to meet their product demands.
Using the robust reporting function, you can also monitor how products in all categories are performing throughout the year and know when the peaks and spikes happen. This way, you get an accurate picture of your wholesale inventory performance.
Free PHP Inventory Management Scripts
If you're on a tight budget or you want to get a feel of how inventory management systems work, you can have a look at the following free PHP stock inventory management systems.
Perfect Inventory Manager is a free PHP inventory management script for managing your invoicing and inventory on site. You can update your stock information, make purchases, and view sales data from all your locations, including your mobile devices. It includes bulk uploads and downloads and item image uploads.
Pharmacy Inventory Management System helps you maintain ideal inventory levels by taking the guesswork out of inventory management. This free PHP inventory management system allows you to track inventory at hand, orders being generated, inventory expected and received—all in real time. This customizable inventory management system is also scalable and can grow with the operation as the patient population and services change.
With this system, admins can manage users. The inventory system can manage products, including the total incoming and outgoing inventory. In addition, it can manage purchases, suppliers, and more.
Cost-Effective Inventory Management Techniques and Concepts
Here are some inventory management nightmare situations you want to avoid:
- stock that can't sell because it's no longer in style
- too much perishable stock whose expiry date falls on the same month
- product not in stock and the lead time is three weeks
There are many considerations beyond numbers that you have to factor into your inventory process.
You need to take into account factors like cost of production, lead times, dimensions, product demand including sudden increases or dips in demand, and even unexpected emergencies that disrupt the supply chain like sudden extreme weather.
Effective inventory management is about asking these questions and employing techniques that help you avoid mistakes that will cost your business money.
Let's look at some inventory management techniques:
1. Build a Good Working Relationship With Your Suppliers
Good communication that is warm and respectful makes your suppliers bend over backwards to accommodate your needs. Think of them as part of your external team, the manufacturing side of your business who need to be aware of your minimum inventory levels and how certain products are performing. Decide with them how to ramp up production on products that are selling well, or discontinue products that are not doing well. Sometimes you may need them to ship products directly to customers to avoid delays. Your suppliers can alert you about products you may not carry but are doing well in some markets so you can try them.
Also, suppliers have minimum order quantity requirements. This is the minimum amount of a particular that you need to order. If you can't meet these, then they won't sell to you. However, if you have a long working relationship with them, you can negotiate some of these.
2. Minimum Inventory Levels
Begin by setting your minimum inventory levels of products. This is the amount of a particular product you want to have in stock all the time. You get an alert from your inventory management software when you go below this level, so you know it's time to place an order that will bring your stock back up above the minimum again. The levels will vary depending on the product. Review these levels several times a year, and adjust them to accommodate changes in demand.
3. First In, First Out (FIFO)
This means older inventory is sold first, instead of your newest. It keeps your inventory fresh. In the case of perishable products, you won't end up with spoiled inventory. And in the case of non-perishable products, if the packaging of the product changes, you don't want to be holding inventory that has old packaging. It'll be hard to convince customers that they're buying the same product.
4. Last in, First Out (LIFO)
In this method, the newest inventory gets sold first. The difficulty with this method is that old merchandise may become obsolete before you sell it. So why use this method? Well, it can be useful for tax deduction purposes, if the latest merchandise was bought at a higher price.
5. Just in Time (JIT)
This method is cost-effective and reduces storage costs. Inventory orders are placed on an as-needed basis. You keep the minimum possible amount of inventory and replenish it just before it runs out. While it's very risky, it avoids ordering too much and ending up with dead stock you can't sell.
6. Safety Stock Inventory
There are many unexpected events that can leave you without stock: a sudden increase in demand, supply chain disruptions due to extreme weather, etc.
Think of this as emergency stock or buffer stock just in case you run out. It gives you a chance to place your orders quickly to remedy the situation.
7. Reorder Point
You have to know when to order new inventory. You can't order everything at the same time. Each item moves at its own demand rate. Some products are ordered more frequently than others. Here is where you use historical data and lead times to determine your reorder levels and maintain optimum inventory levels at all times.
8. ABC Analysis
ABC analysis ranks your inventory from the most valuable to the least valuable. Some products—usually about 20% of your overall inventory—bring in 80% of your overall sales income. These are your most valuable products. Their demand is always consistent and reliable. You want to make sure these products are always in stock so you don't miss out on sales.
- A represents the percentage of inventory that accounts for 80% of your sales.
- B represents the percentage of inventory that accounts for 15% of your sales
- C represents the percentage of inventory that accounts for 5% of your sales.
Products in category C move very slowly. You want to discount these and free up space for new categories of products.
9. Regular Inventory Reconciliation
Your inventory management system generates reports on your stock levels. Human errors are an unavoidable reality of the inventory process. You need to make sure the physically available stock matches the numbers in your system.
There are different approaches you can employ in auditing your inventory.
- spread the inventory count throughout the year by doing it in cycles
- select particular products and do a thorough count of them
- one big massive annual inventory count
A big massive count is taxing and disruptive to a business. It's an antiquated way of doing things. You can't ignore inventory for a whole year and then do it all in one week.
10. Regular Training for Inventory Staff
Consider the cost of not providing proper training for your inventory staff. You can invest in the best inventory management software in the world, but if your staff is not trained in how to properly manage inventory, then your business will suffer.
Find the Best PHP Inventory Management Script Now on CodeCanyon!
Take your inventory management to a professional level and take the headache out of how you manage your inventory with stock inventory management scripts!
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