We’re constantly on the lookout for studies regarding our industry so we can better understand where things are headed – and include value from such insights into Megaventory. As such we were happy to receive notice from inventory management software research and reviews website SoftwareAdvice about the recent survey they published on Inventory Management based on 2013 data:
Inventory Management Report 2014 from Software Advice
There are lots of interesting facts in it but some of the key takeaways are:
- 96% of people looking for an inventory management solution are doing so for the first time. That’s an impressive number as it indicates that more and more people are moving from less efficient solutions (such as pen and paper or spreadsheets) to more advanced methods. The market is opening and we’re only now starting to see the results of cloud technologies being put to use. These are exciting times indeed!
- A staggering 73% of those looking for inventory management take the best-of-breed approach. In other words, instead of going for a solution which will cover all their business needs (email, storage, accounting, inventory, CRM, etc.) in one suite, they instead pick a different application or solution per function. We’ve already wrote a post about that and we’re glad to see our view being confirmed by the market itself.
- More than 90% of inventory management buyers are after basic inventory control, barcode and scanning and demand forecasting – all areas Megaventory excels at. This again confirms our choices in what to include in Megaventory and reaffirms our understanding of the market. It’s no easy thing navigating the industry and knowing what features to support but it feels good to get it right.
So if you want to see for yourself how we do things, feel free to start a trial account!