Organizations that do well at the management of inventory manage to generate high revenues while keeping their customers and clients happy and satisfied. Handling inventory fruitfully is basically all about data management related to procurements, reorders, distribution, warehousing, storage, receiving, prevention of loss/damage, customer satisfaction, stock turnover, etc.
The good news is that a great deal of this information is freely accessible today from today’s inventory management systems, i.e. Enterprise Resource Planning (ERP) for warehouse management. Organizations that add their ERP systems with inventory management functionality have an edge. But, the key gain arrives from being in a position to successfully share the useful statistics inside the different verticals of their business in real-time.
It draws on the different sources of statistics to help businesses decode the performance background in a much better manner. Organizations employ these crucial facts & figures to take better ordering decisions, and make more precise projections to fulfill their future demands, without facing a situation where they are left to deal with a surplus stock.
1. Better supply chain transparency: It helps businesses successfully integrate back-end systems and connect easily with their key partners and stakeholders, to cut down the chances of disrupting developments; like, for example, an important item not being shipped at the right time, or being made available at a much higher price. Integrated ERP System Inventory Management also helps in syncing order and delivery information.
2. Better reporting: Exact inventory statistics makes it possible for the key decision-makers to make the most of data-driven understandings, like the landed cost of the goods disposed-off and also the various top performing SKUs. Warehouse ERP software facilitates custom reports, minus wasting any valuable time.
3. Better and more specific counts: The easy-to-use and highly useful software system tracks and report the surplus inventory, scarcities, scheduled replacement, outdated inventory, etc. In the warehouse, the ERP Warehouse Management System keeps a track of and reports on the product transfers by way of delivery and receiving.
BSquare Solutions Pvt. Ltd. is a well-known and reputed software development company. It offers all the right solutions and tools to help you deal with your data and get valuable insights into your business. It makes the first-rate and bespoke ERP Software System for Warehouse Management.