Inventory Management Software and It’s benefits
Automation arguably has the largest impact on how manufacturers and distributors conduct daily operations, fulfill orders, and deliver products over the last couple of decades. As businesses grow, so do technological advancements like manufacturing ERP systems, robotics, and cloud-based software. The question, however, is how to find an inventory management software that grows in tandem with your manufacturing business? Inventory management solutions today can offer order tracking, increased productivity, improved efficiency, and inventory optimization. These are features can not only help manufacturers minimize manual work and streamline their operations, but also reduce costs, improve efficiencies and simplify even the most dynamic manufacturing environments.
While working in an automation-free environment, some of the problem’s manufacturers face with their inventory software are:
- High inventory costs
- Uncertainty due to demand fluctuations
- Order duplications
- High levels of manual labor managing inventory
- Increasing storage costs
- Inaccurate shipment lead times
- Manual errors causing loss of materials
Predicting the uncertainty of technological advancements in the future, manufacturers need to asses the current status of their business and identify gaps to chart their future roadmap. Some of the key questions that manufacturers need to ask themselves before implementing an inventory management software are:
- Is our current software fulfilling all our supply chain management needs?
- What are the limitations of our existing solution?
- Will this software be helpful to us one to five years down the line?
So, what are the key features that your inventory management software needs to have? And what’s that one tool that can answer all your problems?
Software that communicates:
Inventory management software that scale with your growth should provide you with real-time updates of inventory counts regularly. By increasing internal visibility, the Inventory software should also accessibility of information with all stakeholders across multiple business units and locations. Odoo manufacturing ERP, allows you to manage all this with just a click. It also allows you to manage your warehouse by providing tablets to workers on the floor, Who can then record productions, worksheets, quality control checks, track time and escalate issues.
6 benefits by Odoo Inventory implementation to any business;
- Maximizes warehouse efficiency by automating the whole warehouse
- Odoo inventory management Improves performance and process timing with the help of double-entry inventory system
- Manage Less stock with no stockouts with fully automated replenishment
- advanced features made simple with Odoo Inventory cutting edge automation and advanced routes to manage any warehouse
- Odoo double entry inventory system experience total traceability by tracking every stock move
- Generate real-time reports with Odoo inventory system
At Bista Solutions we have implemented and Customized Inventory management software for a few of our clients globally. With our 13 years of experience and your business knowledge, we can give you the system which will not just manage your inventory but help you to reduce cost, increase efficiency and track every moment of your inventory flow.
Enable product management:
One of the key goals of inventory management software is to create a one-stop-shop that can allow you to easily track your products. Hardware tools like barcode scanners can help you easily get instant information of product identification and labeling. By connecting these with Odoo’s manufacturing ERP, you can not only get real-time updates of your products but also maintain the right amount of inventory for each product, without over- or under-stocking any item. By incorporating solutions like Odoo manufacturing ERP, you can remove the potential for human error and get an accurate status of your inventory.
Facilitate efficient customer service:
Another key task of a scalable inventory management software is to ensure timely delivery of shipments. While also creating a single view of all purchase orders. Manufacturing ERP software like Odoo allows you to view all this and give insights on which products are in demand and also helps in predicting future demand.
Measure your success better:
Intelligent manufacturing isn’t just about data, it’s about optimizing data to make smart business decisions across the end-to-end value chain.
With Odoo manufacturing ERP, nearly every metric you can ask for can be sorted, grouped, filtered and displayed in a histogram, chart or pivot table to give you insights into your operations.
With all these benefits you can minimize inventory investments and maximize your profits. By adopting a customizable and flexible manufacturing inventory management solution like Odoo manufacturing ERP, manufacturers can guard themselves against market fluctuations, reduce the risk of loss and manual errors.