Inventory management is a critical piece of any business that deals with physical products. Whether you're a small e-commerce store or a large manufacturing company, keeping track of your inventory levels, orders, and shipments is crucial for smooth operations and customer satisfaction.

Unfortunately, the inventory management process can be complex and time-consuming, especially as your business scales.

Consider the following inventory management statistics:

• $1.1 trillion: Inefficiencies in supply chain operations cost businesses over $1 trillion worldwide. This includes shrinkage, stockouts, and overstock.
• 43% of U.S. businesses don't track their inventory: Almost half of all businesses don't have an inventory system. Those that do often manage data by hand, which is inefficient and error-prone.
• 63% of companies have accurate inventory: In an academic setting, this would be considered a failing grade. When inventory levels are chronically inaccurate, it can damage a business's success.
• 34% of businesses have shipped an order late because of inaccurate stock levels: Customers lose trust when service is negatively impacted due to poor business processes. This results in lost sales and a damaged reputation.

This is where an inventory management database makes all the difference.

An inventory management database is a software that helps businesses track, organize, and manage their inventory in real-time. It provides a centralized platform for storing product information, monitoring stock levels, and automating key processes like order fulfillment and restocking.

But with so many options available, choosing the right inventory management can be a challenge.

One of the biggest decisions you'll need to make is whether to go with a traditional coding approach or no-code solution.

Traditional coding involves hiring costly developers or web app development company to build a custom inventory management system from scratch.

On the other hand, no-code platforms and app builders are more user-friendly and cost-effective. As the name suggests, no coding knowledge is required to build your own inventory database solution. Any business can create their own management database without writing a single line of code. This means that even non-technical users can build and manage their own inventory databases, saving time and resources. It's as simple as drag-and-drop.

But the benefits of a no-code inventory management system goes far beyond the ease of use and cost savings.

In this article, we'll reveal the key features and advantages of using a no-code platform like Blaze for your inventory management needs. We'll explore the seven essential features that every effective inventory management solution should have, and show you how Blaze makes it easy to implement these features in your own business processes.

What is the Traditional Coding Approach to Inventory Management Databases?

In the traditional coding approach, businesses hire software developers to build a custom inventory management system from the ground up.

The main advantage of this approach is the high level of customization and control. Developers can create a system that perfectly fits the business's unique needs.

However, traditional coding also has significant drawbacks. Building a custom database is time-consuming and expensive. It often requires months of development, if not years, as well as a large budget. It also requires ongoing maintenance and updates to keep up with modern business operations, which can be costly and difficult to manage. Additionally, as the business grows and needs change, modifying the custom built inventory management software may require further development work.

While traditional coding offers flexibility, it may not be the most efficient or cost-effective solution for many businesses, particularly those with limited resources or rapidly changing needs.

As a side note:

• A custom built inventory management system can cost anywhere between $25,000 to $50,000 or more.
• A pre built management system (i.e. third party software) has the same advantages and limitations.
• Average development times can range between 7 and 9 months, though more a more complex inventory management will likely require longer.

No-Code: The Smarter, Faster Way to Build Inventory Management Databases

In recent years, a new breed of inventory management software has emerged.

It's goal?

To democratize the world of app development and database creation. These are no-code platforms, which allows users to build complex inventory management software and database systems — all without writing a single line of code.

No-code builders make data base design easy. They provide a visual, intuitive interface where users can drag and drop pre-built components, customize layouts, and define inventory data structures.

Instead of relying on programming languages, no-code platforms use simple, user-friendly tools like forms, templates, and workflow automation to create powerful, functional applications. There's never been a better user experience to manage data!

The benefits of no-code to create an inventory management system include, but are not limited to:

• Faster time to deployment: Just like a management database should streamline processes, no-code optimizes app development. With a no-code builder, you can build and deploy an inventory management system in just a few days or weeks, rather than months or years.
• Democratization of technology: You don't need coding or technical expertise to build a no-code app. Businesses can empower their own employees to create and customize their inventory database solution. In fact, it's recommended to let your team build or influence the build. Why? Because they know the key features needed to optimize your current inventory system.
• Flexibility and scalability. It's not enough to optimize stock levels once. This is a constant process that relies on real time data. Every evolving business needs the ability to keep up with sales trends and evolving customer demand.
• Accessibility to businesses to every size. Traditional coding can be a major barrier to entry for many businesses, especially small and medium-sized enterprises with limited IT resources. No-code platforms level the playing field, giving businesses of all sizes access to powerful, enterprise-grade inventory management solutions.

One no-code platform that is particularly well-suited for inventory management databases is Blaze.

Blaze offers a user-friendly, intuitive interface that allows businesses to create custom inventory tracking systems in just a few clicks. With Blaze, users can define their own data structures, create custom workflows, and integrate with a range of third-party tools and services.

Whether you're a small e-commerce store or a large manufacturing company, Blaze makes it easy to build and manage your own inventory database, without the need for complex coding or specialized IT skills.

Schedule a free demo to see how it works!

7 Key Features of an Effective No-Code Inventory Management Database

Whether you choose traditional coding or no-code, you'll want to incorporate these 7 features into your inventory management system. From custom inventory reports to accurate forecasting, each feature is crucial to maintaining consistency with order fulfillment.

Feature #1: Real-Time Inventory Tracking and Updates

Picture this: you're a busy store manager, juggling multiple tasks and trying to keep your shelves stocked.

Suddenly, a customer asks for a product you thought you had in stock. You check your inventory database, only to find out that the inventory levels are outdated. The customer leaves empty-handed, frustrated, and likely to shop elsewhere next time.

This scenario is all too common for businesses relying on basic spreadsheets or a manual database for inventory. This is where real-time inventory tracking and updates come in. With this feature, you can:

1. Make informed restocking decisions based on up-to-the-minute data
2. Avoid stockouts and overstocking
3. Maintain accurate inventory status on your website
4. Quickly respond to changes in demand or supply chain operations

Blaze's no-code platform takes accurate inventory to the next level. Not only can you monitor inventory levels in any geographical location and channel, but you can also set up customizable dashboards that display the information that matters most to your business — all based on real time data.

But real time insights for accurate inventory are just the beginning.

To truly optimize your inventory management, consider setting up automated reorder points and alerts with AI. Define custom thresholds for each product and receive notifications when inventory levels run low. This is an advanced analytics technique to optimize purchase orders.

Feature #2: Customizable data fields and categories

One of the challenges of business management is knowing what what the relevant data is for your organization. Your operational efficiency relies on an inventory database that meets your specific needs.

No two businesses are alike, so why should their inventory management systems be one-size-fits-all? Your business has unique data including products/product types, processes, and data requirements that off-the-shelf solutions simply can't accommodate.

Inventory management is more than just about tracking stock levels. It's about tracking and organizing every data type unique to your business.

For example, imagine you're a craft brewery looking to track not just your inventory items, but also details like beer style, ABV, and batch numbers. Or let's say that you're a fashion retailer who needs to track inventory information like size, color, and material.

With a custom database, you can:

1. Create unique fields and categories just for your business
2. Easily track and filter products based on custom attributes
3. Gain deeper insights into inventory levels, performance, and trends

Traditional inventory management systems often require expensive customization or force you to adapt your processes to fit their rigid structure.

With no-code, you can create your own inventory database design.

Pro tip: When creating data fields and categories for your custom database, think carefully about the attributes that are most important to your business. Avoid creating too many fields, as can make your database clustered and hard to navigate. Instead, focus on the key attributes that drive your decision-making and analysis.

Feature #3: Barcode and QR scanning capabilities

Efficiency is the name of the game in inventory management, and there's no faster way to track products than with barcode and QR code scanning. These allow for accurate data entry that allow you to:

1. Perform lightning-fast inventory counts and audits
2. Streamline your picking, packing, and shipping processes
3. Reduce errors and inconsistencies in your inventory database

Blaze offers seamless integration with your existing systems and tools. Many of these tools offer native barcode and QR code scanning capabilities or can integrate with third-party scanning solutions.

Such integrations include, but are not limited to:

• Square
• Shopify
• Airtable
• Amazon
• Google Sheets and Microsoft Excel (While not a direct scanner, these spreadsheets can work with add-ons or App Scripts that process barcode and QR code information)

The real magic happens when you combine barcode scanning with Blaze's other powerful features.

Imagine scanning a product barcode and instantly seeing its real-time stock levels across all your databases. Or scanning a QR code to automatically populate a picking list or packing slip. With Blaze, the possibilities for automated processes are endless.

Feature #4: Integration with other business systems

Your business is a complex machine with many moving parts. Your inventory management system is just one cog in that machine.

To keep everything running smoothly, you need your real time data to flow seamlessly into your other business systems, like your accounting software, ERP, or eccommerce platform.

That's where integration comes in. By connecting your inventory management database to your other business systems, you can:

1. Achieve operational efficiency in multiple areas
2. Gain a holistic view of your business operations
3. Eliminate manual data entry and reduce errors
4. Maintain better inventory control

But integration is easier said than done. Many inventory management software use proprietary data formats or require complex custom coding to connect with other software.

Blaze is different. Our no-code platform is built on the power of relational databases and database schema, which means it can easily integrate with a wide range of other business systems. With Blaze, you can:

• Seamlessly connect your inventory data to your accounting software like QuickBooks or Xero
• Automatically sync your product information to your e-commerce platform or website, keeping product description pages up-to-date
• Customize your integration to fit your unique business processes and workflow
• Automate your accounting software for financial reporting

The benefits of integration are clear. By connecting your inventory management system to your other business software, you can streamline your operations, reduce manual work, and make better decisions based on real-time data.

And with Blaze's relational database schema and no-code integration tools, it's easier than ever to establish relationships between your systems and unlock the full potential of your data.

Feature #5: Automated alerts and notifications for low stock levels

Imagine this: It's a busy day at your store, and sales are booming. But as the day goes on, you start to notice that some of your best-selling items are running low.

You make a mental note to reorder, but in the hustle and bustle of the day, it slips your mind. The next thing you know, you're out of stock and customer satisfaction is falling.

Sound familiar?

Low stock levels are a common challenge for businesses of all sizes. But with automated alerts and notifications, you can stay on top of your store data and avoid costly stockouts.

Here's how it works:

1. You set custom thresholds for each product in your inventory database
2. When stock levels fall below those thresholds, Blaze automatically sends you an alert via email, SMS, or push notification
3. You can take action quickly to reorder

It's like having a personal assistant who's always keeping an eye on your inventory, so you don't have to.

And with Blaze's no-code platform, setting up automated alerts for your inventory management software is a breeze. Simply:

• Define your alert thresholds based on your business needs and sales velocity
• Choose your preferred notification method (email, SMS, push notification, or all three)
• Sit back and let Blaze do the rest

But the real power of automated alerts lies in their ability to help you make proactive inventory decisions. By getting notified of low stock levels in real-time, you can:

• Avoid stockouts and unhappy customers
• Prevent overstocking, which can tie up your capital and lead to waste and spoilage
• Identify slow-moving items and adjust your ordering accordingly
• Reduce storage costs
• Enjoy accurate forecasting for managing inventory

For example, let's say you run an e-commerce store that sells custom-printed t-shirts. With Blaze's automated alerts, you can set a threshold to be notified when your inventory of a particular shirt style or size falls below 10 units.

When you receive the alert, you can quickly reorder more shirts from your supplier or adjust your marketing efforts to push sales of other styles. With Blaze, you regain inventory control.

Feature #6: Reporting and analytics tools for best-in-class inventory data

When it comes to inventory management, knowledge is power. Advanced analytics gives you greater insight into your stock levels, customer behavior, and accurate forecasting.

Though some things such as supply chain disruptions are always out of your control, you can minimize or even prevent issues with advanced analytics.

How?

• Create custom reports based on your specific needs, inventory database, and KPIs
• Visualize your inventory management with interactive charts, graphs, and dashboards
• Drill down into your real time data to uncover hidden insights and trends
• Measure the impact of promotions, discounts, and other marketing efforts on your sales and stock levels

Blaze prioritizes relational databases, ensuring you can see inventory data across all your tools in a centralized location. This allows you to fully monitor the entire process and analyze all inventory related data.

Feature #7: Scalability and flexibility to accommodate business growth

The best inventory management software are those that grow with your business. As your customer database grows, so should your inventory database.

Whether you introduce new product lines or expand your services and offerings, your business processes must evolve to handle more inventory data.

Again, this is where the benefits of no-code come into play. You aren't limited by the constraints of traditional coding.

As your inventory management software needs increase, so too can your inventory database.

Case Study: Blaze & Serenity Forge: No-Code Inventory Management Databases

Shipdudes, a third-party logistics company, built a comprehensive inventory management system using Blaze. The system integrates with Shopify, tracks inventory counting for products and components, and provides customizable dashboards for each client.

The solution includes a client portal for communication and a restocking workflow that saves hours each day.

Blaze's features, such as formulas, user access permissions, tables, action buttons, and integrations with Shopify and ShipStation, were utilized to create the app.

The successful implementation led Shipdudes to sell their Blaze-powered inventory management software to other logistics companies, demonstrating the effectiveness and adaptability of the no-code platform.

How to Choose the Right Inventory Database No-Code Builder

When building your inventory management database, you must consider your current business processes and supply chain pain points.

Then identify the features and functionalities you require in inventory management software.

Is it accurate tracking, advanced inventory analytics, supplier data, customer database integration, a combination of all of the above, or something else?

In addition to ensuring data integrity, ensure that the inventory databases integrate with your existing tools.

Remember, an inventory management software should be easy to use and make selling inventory easier, not harder.

Interested to build your own inventory management software with Blaze?

Schedule your free demo today!