Product Tracking: Track inventory levels for each product, including quantity on hand, quantity reserved, and quantity available.
Stock Adjustments: Allow adjustments for stock levels due to reasons like damages, losses, or corrections.
Reorder Alerts: Notify users when stock levels fall below predefined reorder points.
Product Management
Product Information: Manage details such as product name, SKU, description, price, category, and supplier.
Product Categorization: Organize products into categories and subcategories for better management and reporting.
Supplier Management
Supplier Information: Maintain records of suppliers, including contact details and terms of supply.
Purchase Orders: Create, manage, and track purchase orders from suppliers.
Order Management
Sales Orders: Create, manage, and process sales orders, including updating inventory levels accordingly.
Order Fulfillment: Track the status of orders from initiation to delivery and manage picking, packing, and shipping processes.
Inventory Valuation
Cost Tracking: Track and calculate the cost of inventory using methods like FIFO (First In, First Out), LIFO (Last In, First Out), or average cost.
Valuation Reports: Generate reports on the value of inventory for financial and accounting purposes.
Reporting and Analytics
Inventory Reports: Generate reports on stock levels, inventory turnover, and stock movements.
Sales and Purchase Reports: Analyze sales and purchase trends to make informed decisions about inventory management.
Barcode and RFID Integration
Barcode Scanning: Support barcode scanning for easy data entry and inventory tracking.
RFID Integration: Support RFID tags for automated inventory tracking and management.
User Management
Role-Based Access: Define roles and permissions for different users (e.g., admin, warehouse staff, sales personnel) to control access to various system functions.
User Authentication: Secure user authentication and login mechanisms.
Audit Trail
Transaction Logging: Maintain logs of all inventory transactions and changes for auditing purposes.
Change History: Track changes to product information and inventory levels.
Integration
Accounting Integration: Integrate with accounting systems for financial reporting and reconciliation.
E-commerce Integration: Sync inventory with e-commerce platforms to manage online sales and stock levels.
Non-Functional Requirements
Performance
Response Time: Ensure the system performs efficiently with quick response times for inventory queries and updates.
Scalability: Design the system to handle increased inventory data and transaction volumes as the business grows.
Reliability
Uptime: Ensure high system availability with minimal downtime (e.g., 99.9% uptime).
Error Handling: Implement robust error handling to address and resolve issues quickly.
Security
Data Protection: Use encryption and secure protocols to protect sensitive inventory and user data.
Access Control: Implement role-based access control to ensure that users only have access to the functions they are authorized to use.
Audit Trails: Maintain comprehensive logs of user activities and system changes for security and compliance purposes.
Usability
User Interface: Design an intuitive and user-friendly interface for ease of use by staff with varying levels of technical expertise.
Training and Support: Provide training resources and support to help users effectively navigate and utilize the system.
Compatibility
Device Compatibility: Ensure the system is compatible with various devices, including desktops, tablets, and mobile devices.
Browser Compatibility: Support major web browsers if applicable.
Maintainability
Code Quality: Develop clean, well-documented code to facilitate future maintenance and upgrades.
Modular Design: Use a modular design to allow for easy updates and additions to system functionality.
Backup and Recovery
Data Backup: Implement regular automated backups of inventory data to prevent data loss.
Disaster Recovery: Develop and test a disaster recovery plan to restore system functionality in case of major failures.
Compliance
Regulatory Compliance: Ensure the system complies with relevant regulations and standards related to inventory management, data protection, and financial reporting.
Privacy Policy: Develop and adhere to a privacy policy regarding the collection and use of data.
Scalability
System Growth: Design the system to accommodate future expansion, including additional users, products, and locations.
Load Handling: Ensure the system can handle varying loads and data volumes without performance degradation.
