Why is ERP necessary in inventory management? Do you know the advantages that an ERP software linked to inventories can provide your company?
Controlling inventories is a much easier task if you do it through ERP (Enterprise Resource Planning). While it is true that inventory management can be offered as a stand-alone program, software is usually integrated together with warehouse or supply chain management systems.
ERP systems, on the other hand, have specific modules for inventories. These ERP inventory management modules are used, for example, in retail, distribution, manufacturing, and linked to retail marketing systems, in those processes in which users are also responsible for managing prices.
How can an ERP system help with inventory?
The ERP system can help in the inventory of stocks, through task optimisation and saving time. In order to be able to keep an exhaustive control of the stock, it is fundamental that the functions of an ERP are reviewed from its entry to its exit:
The tasks of order reception must be automated. The objective is to streamline the storage process.
- Download management
- Incident management with suppliers
- Merchandise inspections
- Correct labeling
- Registration and collection of information on the entire process
- Fine tuning
When it comes to outputting a product, it is necessary to reduce the order preparation times.
- Possibility to generate orders automatically
- Tracking of serial numbers and warehouse references
- Printing of bar codes
Once the inventory is in stock, it has to be controlled, to later prompt movement to depart the warehouse at the right time.
- Adequate control of stock balances
- Control of supplies in inventory
- Transportation amongst zones
Once supplies have left the warehouse, they have to remain controlled, for this reason, it is important to automate the process. Likewise, keeping track of orders allows us to determine the levels of expenses incurred and to carry out reports that help us to know the movements, transfers and merchandise adjustments made.
- Efficient and coordinated analysis and management of sales
- Reports from the analysis of sale movements
- Data and information in real time, constantly updated
Advantages offered by an ERP for inventories
There are many benefits that an ERP brings to the company when managing inventories. Some of them are the following:
- Control over excess and lack of inventories
- Management of stock exits
- Cost reduction
- Productivity increase
- Improvement in customer service
- Generate merchandise orders automatically
- Effective tracking and management of purchases in order to determine the levels of spending that are handled in your company
- Improvements in the flow of merchandise
- Tracking number of series and warehouse references
- Support for decision making
- Supply control
- Time saving
- Updated reports with movements, transfers and merchandise adjustments made
- The areas of sales, distribution, production and collection will improve their work rate by having dated and real information from inventories
- Ability to keep electronic accounting and therefore to comply with the SAT
- Updated financial reports
What is the best ERP software for the inventory management of your company?
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