How An ERP Solution Results In Inventory Visibility

by Rob Stephen getaprogrammer

ERP or Odoo ERP development has come a far away in making business functions transparent, quick and organised. This article penned down how is it helping inventory management, a significant part and parcel of every business become more visible.

Inventory management is a part of enterprise resource planning, which is about a fully-integrated approach for planning and managing business’s resources for optimised production and operations. While there are numerous ways a business get benefitted by a functional ERP solution, there are severe advantages in the edge of inventory management. However, that can only be enjoyed if the solution bears the feature or module for inventory management. So, when you get Odoo development services, make sure the hired development firm consider making an ERP software for your business with the feature of inventory management.

Before knowing how an ERP can remove all irregularities in inventory management and it visible, let’s have a look at its key functions performed by the ERP inventory system.

Stock keeping, tracking and organisation
Sales and Purchase order management
Keeping track of Order fulfilment
Warehouse management
Stock transfers notifications
eCommerce integration
Intelligence reporting and analysis

These are just generalised features set, as no two ERP systems are similar even if their purpose is one, i.e. making management of inventory smooth and transparent. Key benefits companies can reap from a well-versed inventory management ERP software.

Improved efficiency

The ERP solution comes with the advantage of time-saving being a centralised solution. One system to take care of all inventory functions will eliminate any need for double-handling by automating certain tasks. This predominantly results in more production and more output in less time.

Accurate collection of data on inventory

The ERP keeps up all the data on stock, orders placed, orders dispatched to end customers and so forth. They save up all inventory, orders and sales report which eventually help in boosting business performance.

Supply chain transparency

When a growing number of companies are outsourcing their supply-chain distribution and logistics operations to third-party services providers, they are using up ERP inventory management system to make sure all the operations are perfectly coordinated. Besides, it helps them know stock, orders and essential shipping information by integrating well with those external partners.

Cost Savings

Efficiency in operations leads to cost savings. With the use of ERP, there’s no need for managing separate systems to control each of the complex inventory functions and various sales order processes. So, this saves up the costs tremendously and result in businesses efficiency.

While there’s no doubt that ERP systems are adding up more value to the businesses, regardless of their type and size, you must not miss out any of its internal feature module like Inventory management. It not only helps in keeping a close eye on the inventory but also helps businesses to prevent inventory falling short by notifying them on stocks outflow.

Rob Stephen is one of the dedicated Odoo developers at GetAProgrammer, a premier software solutions provider specialising in Odoo ERP Solutions that let businesses hire Odoo developer in Australia at the most affordable costs to get a functional ERP software.