Inventory Management Software Development

ScienceSoft applies 12 years of experience in supply chain software development to create reliable, future-ready inventory solutions and provide comprehensive consulting services on the inventory system implementation.

Head of Enterprise Application Development, ScienceSoft

Digital Supply Chain Consultant, ScienceSoft

Inventory System Development: Summary

Creating an inventory system is a way for companies to improve the efficiency of their unique inventory management workflows, get full control of inventory levels and movements, optimize inventory-related costs, prevent stock-outs and overstocking.

Key steps to create an inventory management system

1. Engineer requirements and design an inventory system.
2. Plan the project in detail.
3. Develop inventory software and run QA.
4. Integrate the software with other systems.
5. Migrate inventory data.
6. Deploy the inventory system.
7. Conduct user training.
8. Ensure after-launch support.

• Team: A project manager, a business analyst, a solution architect, UI and UX designers, front-end and back-end developers and QA engineers.
• Time: Around 9–13 months for custom inventory system development.
• Cost: $90,000–$250,000 for inventory software of moderate complexity, $250,000–$400,000+ for a comprehensive inventory system.

Having 750+ IT professionals with 7–20 years of experience, ScienceSoft can provide all necessary competencies to cover inventory software implementation end to end and help companies effectively optimize project time and costs.

Types of Inventory Solutions

Visit ScienceSoft's dedicated pages to learn about the features, costs, important integrations, and financial outcomes of inventory solutions we create:

General-purpose inventory solutions

Custom inventory management software

Inventory database software

Inventory automation system

Stock inventory control software

Inventory counting software

Inventory optimization software

Industry-specific inventory solutions

Having deep practical knowledge of 30+ industries, ScienceSoft can create inventory software for any business segment. Some examples of industry-specific inventory systems we build are:

Digital inventory system for manufacturing

Ecommerce inventory management software

Hospital inventory management software

How to Create an Inventory Management System in 8 Steps

The duration and approach to the inventory system design and development depend on the specifics and scale of inventory operations the solution should cover. Below are described the typical steps we at ScienceSoft take to introduce robust inventory software.

Engineer requirements and design an inventory system

ScienceSoft starts inventory system implementation projects with the following steps:

• Eliciting functional and non-functional requirements for an inventory system, defining user roles, required integrations with other systems (ERP, CRM, WMS, POS, accounting system, etc.) and data migration activities (to move data from currently used spreadsheets or an inventory management solution).
• Deciding on the inventory system type: software-only or hardware-supported (barcode/QR code scanning, RFID, computer vision). Outlining a list of required hardware equipment if needed.
• Designing a high-level architecture of the solution with major components and interactions between them. Prototyping UX and UI.
• Composing an optimal tech stack for inventory system development. To streamline and speed up development, we rely on proven frameworks, low-code platforms, and ready-made components where possible.

We render inventory system design in close collaboration with a customer’s subject matter experts to get an in-depth understanding of their inventory management needs and ensure the service fully covers our client’s unique requirements.

ScienceSoft's Business Analyst and Digital Supply Chain Consultant

Plan the project in detail

ScienceSoft’s experts strongly believe that precise project planning is the cornerstone of a successful inventory system implementation. At this stage, we cover:

• Outlining the scope of work and its duration, associated risks and the ways to mitigate them.
• Calculating expected TCO and ROI of the inventory system.
• Defining milestones, objectives, and KPIs for the inventory system implementation project.

Develop inventory software and run QA

At ScienceSoft, this stage includes:

• Delivering the back end of the inventory solution that will consolidate and process inventory data uploaded by users and generated by inventory tracking devices and trigger actions based on this data to automate inventory operations.
• Delivering user-facing web and mobile applications.
• (Optionally) Implementing a demand forecasting module driven by machine learning to optimize inventory management processes.
• Running quality assurance procedures to validate inventory software quality and fix bugs prior to production.

In some cases, upgrading a company’s existing inventory management solution may be a more cost-effective way to get a modern inventory system. We always analyze economic feasibility of inventory software revamp vs. development to decide on the best option and help our clients optimize investments.

ScienceSoft's Head of Enterprise Application Development

Integrate the software with other systems

At this stage, ScienceSoft’s team finalizes integration patterns and procedures defined at the inventory system’s design stage. We implement and test integrations with other business-critical systems and business intelligence (BI) solutions for inventory reporting and visualization of inventory-related data.

Migrate inventory data

Prior to solution launch, ScienceSoft assists in data migration from currently used inventory software or spreadsheets. For this, we take the following steps:

• Developing a migration scenario, scripts for migration automation, data mappings.
• Extracting inventory data from a legacy inventory system or spreadsheets and validating its quality, identifying and solving issues (e.g., lost or corrupted data).
• Loading the data into a dedicated inventory database and running data verification procedures to ensure data accuracy and consistency.

Deploy the inventory system

The deployment of an inventory system with ScienceSoft usually covers the following stages:

Stage 1. Configuring software infrastructure, backup and disaster recovery procedures. Implementing robust security mechanisms: authorization controls for APIs, DDoS protection algorithms, firewalls, IDSs / IPSs, and more. Installing and tuning hardware if required (e.g., barcode printers and readers, RFID tags and readers, computer vision cameras, etc.). Deploying the solution to one of the targeted facilities (warehouse/distribution center) for a pilot run. Duration: 2 weeks for hardware-supported systems.

Stage 2. Monitoring the system’s functioning in real-life conditions. Handling possible change requests and issues (e.g., barcode/RFID-related). Duration of pilot operation: 1-2 months.

Stage 3. Rolling out the final version of the solution to all the targeted facilities. Duration: ~ 2 months for deploying RFID/barcode-based systems (depending on the number of facilities and their layout complexity, the duration can be longer).

Conduct user training

To help employees involved in inventory-related operations quickly learn how to use the solution for their daily operations, ScienceSoft takes the following steps:

• Devising the plan on incorporating the new inventory system into employees’ (inventory and purchasing specialists, warehouse workers) workflows.
• Creating software and hardware administrator guides and user tutorials.
• Conducting workshops for involved user groups (e.g., training warehouse staff to label inventory items for the new system).

Ensure after-launch support

ScienceSoft offers a range of after-launch services to ensure smooth performance of the inventory system in the long run. The services include:

• Providing continuous user support.
• Running planned system updates and extending functionality based on evolving business needs and user feedback, e.g., more types of inventory reports enabled, improved UI.
• For barcode/RFID/computer-vision-supported systems: fixing hardware defects and maintaining hardware (in cooperation with a hardware vendor).

See How It Works in Real Life

Inventory Management Software Demo

A sample application for the inventory team shows how its key features, like demand-driven inventory planning, multi-location inventory monitoring and automated inventory reporting, improve operations efficiency.

Consider Professional Services for Inventory Software Development

In custom software development since 1989, ScienceSoft helps companies design and build effective inventory systems that help optimize inventory operations and avoid stock-outs and overstocking. We ensure a predictable development process and guarantee that project goals are met within the intended budget and timelines.

We introduce the optimal features, architecture, and tech stack for your inventory solution. You also receive an integration map and a detailed project plan with cost and time estimates for risk-free implementation.

We promptly develop a new inventory system or revamp your existing solution. Our team integrates the software with all required systems, performs the necessary QA procedures, and can provide after-launch support.