ERP for Inventory Management: Get a Bird’s-eye View for your Inventory
In any organisation, all the business operations are often interconnected to each other and inventory management is one such key aspect that forms the backbone. It is a key business function, which regulates the supply chain. Therefore, efficient and accurate inventory management becomes a necessity.
Be it a retailer, wholesaler or manufacturer, optimum inventory management is a must to control costs and ensure seamless supply chain operations. Sage ERP solutions offer real-time data on stock and inventory including raw materials, stock against orders, finished goods, etc. Simply put, ERP offers a comprehensive and 360-degree view of your inventory and supply stock facilitating optimum management and tracking of the same.
With an ERP software, a business can efficiently manage inventory levels, tame costs and meet customer expectations as well as improve customer service.
- Receive real-time insights into supply, demand, cost, order fulfilment and market trends.
- Manage pricing with comprehensive and real-time insights into inventory cost, profit margins etc.
- Curbs the hassles of manual inventory tracking and lifts vendor satisfaction levels with seamless and efficient procure-to-pay procedure.
- Improves relationships with partners, vendors and suppliers by offering real-time and quick visibility.
- Helps meet customer demands and needs in an efficient way resulting in enhanced customer service.
- Efficient and seamless serial number tracking
- Real-time reporting
- Multi warehousing, pricing and location inventory tracking
- Comprehensive and real-time visibility of vital supply chain and inventory control processes including stock against order, inventory trends and so on.
- Helps reduce inventory overheads by optimum tracking of stocks whilst boosting operational efficiency.
- Helps manage multiple product pricing margins efficiently based on different types of currencies, channels and customers.
- Offers full control over inventory refilling whilst keeping excess inventory stocks to minimum
The requirements for ERP for inventory management differs by industry. For instance, discrete manufacturing companies need multi serial number and inventory tracking, multi supply management, etc. Whereas process-manufacturing companies require comprehensive inventory tracking, traceability, expiration data tracking, ID and batch tracking etc. And for mixed-mode manufacturing companies, ERP software requirements will include a mix of both discrete and process inventory management features. Irrespective of the industry type, it is advisable to assess the ERP requirements for your industry type and choose the apt one from the available choices.
Sage ERP for inventory management offers a range of advanced warehousing and inventory management features such as tracking for multiple warehouses and locations as well as specialised inventory tracking features that include special stock, batch and serial number tracking. These along with several other features come as standard functionalities within Sage ERP for inventory management.
Inventory management and tracking with ERP offers excellent flexibility when it comes to dealing with intricate storage and warehousing needs as well as assures consistent updates on warehouse inventory. Fully automated, ERP for inventory management supports seamless integration with a number of related modules. This facilitates efficient, hassle-free and quick inventory transactions.
Excellent and robust integration offered by Sage ERP for inventory management offers a bird’s-eye view for your inventory related transactions while assuring accuracy of the data it renders.
As we know that optimum and accurate inventory management is of paramount importance for efficient supply chain and ERP for inventory tracking helps achieve this in a seamless and effortless manner. Enjoy comprehensive visibility, improved customer satisfaction and loyalty, streamlined inventory and supply chain related processes and enterprise-wide cost efficiency.