The Enterprise resource planning (ERP) software is designed to make it easier for businesses to manage their processes in one central location. With an ERP software, you can automate crucial business processes such as inventory management and other back office functions related to human resources, services, and technology. A high-end ERP solution comes with an efficient distribution management module, which lets you manage sales orders, fill orders, track inventory, provide customer support, and improve purchasing anytime, anywhere. When it comes to inventory management, it provides real-time access to your inventory, the costs, inventory in transit, and reorder quantities.
An efficient ERP software solution lets you manage your distribution process more efficiently to boost customer satisfaction and profit. Likewise, it lets you manage multiple warehouses, inventory sub-items, lots, bin locations, and expiration dates. The ERP software comes with all the tools you will need to control and manage system-wide inventory. That way, you can efficiently manage distribution processes while making sure that you can keep track of the costs. You can receive inventory to a particular location and change the default serial or lot numbers, accounts, valuation methods, and other crucial factors.
Some of the key benefits of ERP for your inventory management include the accurate management of costs. This means you can accurately track the costs of inventory holding and the goods you have sold, choose different valuation methods for every inventory item, and create GL entries straight from inventory transactions. Multiple valuation methods enable you to use moving average, standard cost, item-specific methods, and FIFO for every item in the inventory. Likewise, you can directly adjust the cost and the physical inventory count using inquiry and report screens, and assign sub-categories to easily track characteristics of inventory items, like color, style, and size.
When looking for ERP software, consider a web-based and cloud-enabled solution that lets you access and manage your inventory any time from any device. Moreover, make sure that its inventory management module comes with important features like expiration dates, serial and lot numbering, inventory bin and location control, CRM integration, sales order discounts and promotions, and transaction reason codes. Consider a solution that lets you automate purchase orders, transaction reason codes, and inventory replenishment suggestions.
An efficient ERP software solution lets you manage your distribution process more efficiently to boost customer satisfaction and profit. Likewise, it lets you manage multiple warehouses, inventory sub-items, lots, bin locations, and expiration dates. The ERP software comes with all the tools you will need to control and manage system-wide inventory. That way, you can efficiently manage distribution processes while making sure that you can keep track of the costs. You can receive inventory to a particular location and change the default serial or lot numbers, accounts, valuation methods, and other crucial factors.
Some of the key benefits of ERP for your inventory management include the accurate management of costs. This means you can accurately track the costs of inventory holding and the goods you have sold, choose different valuation methods for every inventory item, and create GL entries straight from inventory transactions. Multiple valuation methods enable you to use moving average, standard cost, item-specific methods, and FIFO for every item in the inventory. Likewise, you can directly adjust the cost and the physical inventory count using inquiry and report screens, and assign sub-categories to easily track characteristics of inventory items, like color, style, and size.
When looking for ERP software, consider a web-based and cloud-enabled solution that lets you access and manage your inventory any time from any device. Moreover, make sure that its inventory management module comes with important features like expiration dates, serial and lot numbering, inventory bin and location control, CRM integration, sales order discounts and promotions, and transaction reason codes. Consider a solution that lets you automate purchase orders, transaction reason codes, and inventory replenishment suggestions.