Benefits of Odoo ERP for Inventory management

ERP for Inventory management simplifies the process of managing and tracking of the stock level to improve efficiencies in the company. With the help of an ERP software, one can efficiently manage the inventory. ERP system enables the most efficient stocking methods for your inventory and helps to improve all the internal operations. ERP system today have advanced features like double-entry inventory with no stock input, total traceability on products, Drop-shipping, Cross-docking, Multi-warehouse etc.

Without an ERP support, inventory management turns unsystematic, missing all real-time information necessary for the next action and company faces many problems like:
Stock-outs of products, resulting in backorders, lost sales and dissatisfied customers.
Excess of the products, which leads to increase in inventory levels, increases in carrying cost due to increased use of warehouse space and product maintenance.
No traceability of products which are present in inventory, because the primitive business methods can’t keep up with managing the growing demand and speed of business.
Inability to find out the exact location of the material, leading to the consumption of a huge amount of time in searching the material and delay in deliveries.

Get complete inventory management with the Odoo ERP inventory management application which can be utilized by any business organization irrespective of their size and complexity. Odoo inventory is fully integrated with other applications of Odoo like Purchase, Sale, Accounting, Manufacturing and Repairs, Shipping connectors for more efficiency.

 

The features of Odoo Inventory Management includes:

  • Odoo double entry inventory management allows full traceability from the supplier to the customer. Nothing is lost, everything is moved.
  • Pack orders and deliver with or without barcode scanners. Odoo prepares delivery orders for you based on availabilities.
  • Manage all your warehouses with the same system and define replenishment rules between warehouses.
  • Use barcode scanners for every inventory operation: inventories, incoming shipments, packing orders, etc.
  • It controls the processing time by automating the inventory transactions improving transparency in all business operations.
  • With Odoo ERP traceability features like ‘Lots Tracking’, ‘Activity Log’, ‘Serial Numbers’, ‘Perpetual valuation’  make it easier for the business industry.
  • Odoo supports several product types that have different behavior: physical products, consumables, services, digital products. And you can add as many custom fields as you want on products to handle your business needs.
  • Less stock, no stock outs with fully automated replenishment. Use order points and automated RFQs to make your supply chain more efficient than ever.
  • Odoo Warehouse Management System supports FIFO, Average Cost and Standard Price for product costing methods.

 

To know how to use Inventory module in Odoo ERP, check the video:

 

Therefore better Inventory management helps you to avoid stocking related mistakes and take quick decisions for better internal operations. If you are looking for an Odoo ERP implementation, Planet-Odoo delivers you all allied services in Odoo from its implementation to customization and support and maintenance for future needs. For more information contact us at info@planet-odoo.com.

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