Inventory management software
Software based systems bring the advantages of having the most efficient control with less effort and employees. Inventory Management is one of the basic problems for a company. It may cause a lot of paperwork, if there is no automated system available.
The Inventory Management software module provides real-time access to available inventory, reorder quantities, and inventory costs so you can efficiently manage your distribution process to improve customer satisfaction while maximizing profits.
Multiple Warehouses
Allows you to manage multiple warehouses with location specific inventory quantities, allocations, and costs. For each warehouse you may specify the access rights to determine the group of people who can access warehouse information and enter inventory transactions.
- Inventory Item and Subitems: Allows you to separate items into sub-categories so you can track inventory characteristics such as size, color, and style. You can associate separate cost and quality information with each subitem. Inventory management software reports and inquiry screens allow you to see detailed segment information as well as aggregated inventory totals.
- Expiration Dates: Allows you to assign an expiration date for each lot and serial number so expired items can be deducted from your list of available inventory. Software can automatically issue items with the earliest expiration date to minimize losses. Reports and alert screens allow you to monitor expiring items.
- Negative Inventory: Allows a negative inventory balance for an individual item or group of items. Over-issued items will use most recent historical cost until the item is received. When received, the inventory management software will match the receipt cost with issue cost and generate a cost adjustment for the difference. Negative quantities and values may apply to one site or location while aggregated inventory is positive. Appropriate warnings are issued on transactions that will result in negative inventory.
- Multiple Inventory Accounts: Allows you to create multiple inventory accounts and subaccounts for different groups of items so you can maintain a detailed balance of your inventory on the GL. Inventory account and subaccount codes can be derived from the warehouse or the inventory item. When you change an inventory account, newly received inventory will be assigned to the new account while issued inventory will be deducted from the old account until the inventory is depleted.
- Inventory Allocation: Software maintains detailed cost allocation information on all inventory related transactions. Allocation information is constantly updated for all transactions as well as anticipated receipts and issues. You can drill down the allocation details and navigate to the original documents that results the allocation.
- Physical Inventory: Using the physical inventory count features you can organize your goods based on ABC codes and movement classes and conduct regular cyclic count of your inventory. Items that are included in the count are locked in inventory and no operations that affect warehouse quantity are allowed. Once the count is completed you can continue the operation and enter the count result later. Once the count results are entered system will generate appropriate inventory adjustment based on historical snapshot.
- Inventory and Warehouse Security: Allows you to control which users and roles can view and create transactions for inventory items and inventory warehouses in order to improve the accuracy of the data entry and enforce inventory control.