Inventory management is an integral part of marketing. It works for hands in gloves with customer relationship management. Often when marketers maintain inventory and customer data in separate systems, their orders get delayed. This is precisely why the CRM Software integrates the inventory details and customer details. Before we get into the benefits of inventory management, let us first speak about inventory management.

Inventory Management

Inventory management is the management of products available in the market. It tells us the exact quantity of the products along with their specifications.

Need for CRM Software for Inventory Management

Previously people used to keep a separate log of inventory in their markets. Whenever a customer asked for the products, they would check for the availability of the products in the inventory list before confirming the order.

However, because these two essential pieces of information, i.e., customer requirement and the list of products, were documented separately, it took some time to confirm the order. There was also a lot of miscommunication while dealing with customers.

Moreover, people who were not well- accustomed to the manual system also found difficulties extracting information.

Ways in which CRM software help in inventory management

• It helps people answer queries instantly

With the integration of CRM software, inventory management has become a piece of cake. Since all the customer and inventory information is managed through the same software, you can quickly answer customer queries about what stocks are available and whatnot.

• Saves time

All the information required to place the order, be it customer contact details or stock data, is available at the click of a mouse in the CRM Software. Therefore it saves a lot of time and helps in smooth operation.

• It helps avoid chaos and confusion.

CRM software has reduced a lot of chaos and confusion by sorting data. With the help of this software, you can easily find out how many orders you can accept for a particular product. It has also helped marketers deliver the products on time.

Conclusion

Therefore, CRM software has helped a lot to manage businesses and helped increase production by giving the correct information about which product is being sold at what quantity, hence monitoring the company’s inflow and outflow of products.