Travel firms are increasingly looking to technology in order to overcome those age-old inventory management challenges.

It makes lots of sense, for accordingly-tailored software gives you the ability to easily manage your stock, from flights and accommodation to transfers, events and tours.

Inventory banks also allow you to create, manage, price and package a wide variety of products, while dynamic packaging allows you to create and sell individual components or fixed packages.

With inventory management therefore going hand-in-hand with operational efficiency, customer satisfaction and revenue, there's a pressure on travel companies to find the software that will allow them to finally overcome the challenges associated with the process.

Let's look at some of the most common inventory management challenges for travel firms and how to address them, courtesy of sManufacturingERP:

1. Getting everybody and everything talking

People, systems and databases must all talk to each other, which means successfully integrating demand and inventory planning software with related systems such as ERP. The key to achieving this, as we see it, is to seek out inventory management software that is both sophisticated and tailored to your specific travel market.

2. Training users on inventory management software

Once you have parted with some of your budget for a piece of inventory management software, you'll quickly want to get users trained in in how to use it, so you can make your life easier, quicker. However, with a complicated piece of software, training might take longer than you'd planned. Therefore, prioritise ease of use when deciding which software to opt for, which will ensure users are up and running sooner rather than later.

3. Getting people on board

It might not be easy getting people to switch to new inventory management software. They've always trusted their spreadsheets, which haven't let them down yet... However, it goes without saying that the right software could save them time and stress. They might just need having the benefits of inventory management software made clear to them, highlighting how it could have a positive impact on their workload.

4. Standardising data

Why would you have more than one definition for the same data? Indeed, but it's easily done. To avoid any confusion and to build an architecture that works across departments and locations, firms should move to standardise data definitions. It might also be a good idea to clean up the sales and inventory data coming into the system, so that only essential data is captured.

Having use of a piece of inventory management software is better than not having anything at all, though, right? Not always. If you partner with Digital Trip, you can benefit from an Inventory Management Suite which makes your life a lot easier.