Inventory Management System

Optimize Operations with Multi-Techno's Inventory Management System

The inventory Management System is a vital component of your whole supply chain because it enables you to trace your items’ buying, storage, and sale at any particular moment. Once you can effectively track, how much material do you have where this is? Inventory management turns from a problematic, manual operation to a critical factor of your business’s growth plan. Further, Get multi-techno services and improve your business inventory management with the best ERP-integrated software.

Purpose of Inventory Management System

Inventory management aims to guarantee enough items to fulfil demand while producing excess or surplus inventory. Multi-Techno helps you maintain your inventory management software that is integrated with ERP.

Features

An inventory management system is a tool that allows you to track goods across your business’s supply chain. Further, it optimizes the entire spectrum, from order placement with your vendor to order delivery to your customer and mapping a product’s complete journey.

Setup:

Item Main Category
Sub Category
Definition
UOM Definition
Store Definition

Transaction:

Inventory Opening Balance
Inventory Adjustment
Material Issue Note
Material Return Note
Store Transfer
IGP (Inward Gate Pass)
OGP (Outward Gate Pass)
GRN (Goods Receipt Note)

Reports:

Stock Balance
Stock Ledger
Inward and further Outward gate passes
Cost Center Wise Consumption comparison report
Min and Max Stock Level Base Reorder Report
Stock in Hand Value-Wise
Inter-Stores Transfer Summary Report
Main Category Wise Report
Sub Category Wise Report

curate inventory management is essential for running a profitable product firm. Further, Stock tracking helps avoid stock mistakes and other issues. The following are the features of inventory management:

Barcoding and Tagging

The outstanding aspect of the inventory management system is the removal of common human mistakes. Moreover, Manual data entry can lead to errors, but scanning a barcode saves employees time.

Reporting on Company Operations

Monitoring an inventory firm necessitates keeping those in command up to date on different business operations, such as the vehicle’s location, etc.

Notifications About Inventory data

A sound inventory management system has a securities alarm function. Moreover, The program outlines numerous consequences that may arise due to the low supply of a specific item in the notifications.

Inventory backup and security

If inventory software is hacked, Even so, the data is protected by a backup that business owners may access and utilize. As a result, backup and inventory security avoid any disruptions.

The product’s demand and supply

Inventory software helps businesses manage their inventory effectively. Moreover, Executives properly manage the buyers and sellers of the company’s products.

Last Thoughts

Effective inventory management is critical to the global performance of Supply Networks. Further, The advantages of these systems are obvious, and as time passes, more and more businesses will continue to use similar solutions. After that, Multi-Techno provides you with complete solutions for any ERP software.

Benefits of Inventory Management that is Integrated with ERP

Inventory Management System strategies can assist you in saving money and further maintaining a correct stock count. Furthermore, integrating an ERP system with inventory management features will give you even more benefits.

1 . Evaluate Inventory Levels Across the Organization:

ERP systems can give a global picture of orders across all departments, from selling to accounting through delivery. Moreover, centralized purchasing eliminates duplication, and buying in bulk saves money.

2 . Improve Forecasting:

Data collecting and analytics software can give insights into patterns. You may also enhance your stock predictions by understanding patterns.

3 . Optimize Your Entire Inventory:

A solid inventory management system aids in maintaining the proper mix of stock and amounts at the lowest possible carrying costs. Further, it will assist you in ensuring that you always have reasonable amounts on hand.

4 . Manual Tasks Can Be Automated:

Stock-taking, further receiving, and fulfilment may all be up by barcode and RFID scanning. At the same time, Using software decreases mistakes caused by manual entry and frees employees from repetitive activities.

5 . Profit Has increased:

A better knowledge of supply and availability leads to higher inventory turnover, which affects profitability.