What is INVENTORY MANAGEMENT?
Inventory is a dynamic function in any business, it changes constantly. In a day businesses see multiple transactions like sales, return, receipts, damage that affect the inventory levels. For any inventory heavy business, managing it becomes a daunting task. Businesses are always on the lookout for inventory management and control systems to manage transactions effectively and efficiently.
Businesses continuously evolve and operations grow and with it managing inventory becomes daunting. Effectively managing huge levels of inventory gets harder.
Inventory Management Systems
Versa Cloud ERP drives value to businesses by using web-based inventory management. We are able to effectively manage a huge volume of stock and keep track of its various stages i.e., raw materials, work-in-progress, and finished goods.
Inventory-heavy businesses are always on the lookout for an easy-to-implement and effective control system. It refers to the process by which a business can track the amount of product a business has in its facilities from the retail shelf, warehouse, or distributors.
Versa Cloud ERP allows you to track the quantities and values of all of the items bought and sold by your business. It enables the business to be aware of the right number of units that exist at the right prices all across the business.
The business will have maximum control over its inventory flow and be flexible for older releases. Because the inventory overview for a certain product shows the stock available at different warehouses. It further classifies the inventory allocated to current sales orders and the stock available for future orders. Therefore allows business/user to be able to make quick re-order decisions to ensure seamless order management.
In addition, inventory heavy businesses need to be able to able to make quick decisions on the stock availability and the re-order points to replenish the stock. The PO Planner in Versa Cloud ERP manages the workflow for re-ordering effortlessly.
Also, Versa Cloud ERP enables the business to manage detailed BOMs, item classification as serial numbered and lot numbered according to the requirement of the process.
Versa Cloud ERP also supports warehouse management features. It is designed to support and optimize warehouse management functionalities. Including control of day-to-day operations of shipping, receiving, putting away, and picking up goods.
It also allows businesses to pick a feasible location for the fulfillment of sales orders depending on the location or requirement of the customer.
Versa Cloud ERP inventory management software for small businesses lets them manage products across stages (raw material, WIP, or finished) in multiple locations across regions. Therefore, allowing easy tracking by the consolidated view available alongside each product and levels of inventory at every facility.
Benefits of an Effective Inventory Management System
- Fewer Missed Sales
- Accurate Reporting
- Easy Re-Ordering workflow
- Reduced Cost
Effectively manage your inventory management requirements: source, store, sell and optimize your workflow with our award-winning ERP.
Let Versa Cloud Erp’s do the heavy lifting for you.