EFFECTIVE MANAGEMENT OF INVENTORY LEVELS
WITH BUSINESS EXPERT
Inventory is an expensive asset that needs to be carefully managed and controlled. A poor inventory management has posed great challenges to many companies across several industries including manufacturing industry. Complex decisions have to be made about how much and which items a company should hold overall and at each stocking location. Additionally, the company needs to know when to replenish, how much and where. They face an ongoing balancing act as they try to carry enough inventory to respond quickly to customer demand, minimize transportation costs, and minimize investment in inventory to reduce warehousing and storage costs.
The role of inventory management become more important when managing more than one branch. A good inventory management helps to boost sale and manage accounts. Using an ERP system to manage inventory will assist with a number of goals:
- Achieve optimum levels of inventory at the correct locations
- Address issues of inventory losses and obsolescence
- Reduce the problem of excessive inventory
- Prevent interruptions to production through stock shortages
- Increase visibility of information about inventory
- Improve procurement and replenishment processes
- Enable inventory to be managed at a more granular level
- Assist with regular, efficient stock takes
- Provide additional attributes to handle stock better – lead time, supply/demand variability, velocity
Manage requisitions easily
Branch Requisition, Production Requisition, Purchase Requisition, Sales Order Requisition
Branch & Department Stock Movement
Manage Stock Issuance & Receiving transaction and track stock movement.
Manual Stock Audit and reconciliation for crystal clear insights on inventory facts & figures.