Efficiently manage your inventory stocks and balances to reduce shortage and cut costs
OmegaCube ERP’s Inventory Management solution gives you real-time insights on inventory balances, stock consumption, material movement and warehouse management.
With this, you can efficiently plan, procure, manage and track inventory from procurement till consumption. With the automation of inventory management, you see a reduction in emergency procurement, storage costs, human errors and production delays.
Key Benefits of Inventory Management
Meet fulfillment expectations with full visibility and control of your supply chain.
Meet compliance requirements by maintaining an accurate genealogy and traceability throughout your supply chain.
Improve cash flow by having right inventory at the right cost at the right place.
Collaborate with customers and vendors to maintain real time information for demand and supply.
Key Features of Inventory Management
Traceability
- Maintain full cradle to grave traceability information for lots and serial numbers.
- View traceability information in an intuitive graphical tree.
- Maintain compliance requirements and provide automatically generated certificates of compliance.
- Track heat numbers and material composition data.
- Attach mill certificates to lot numbers.
Consignments
- Manage customer and vendor consignment.
- Track inventory counts at each of these consignment locations.
- Automate invoice generation when consignments are used.
- Send electronic generated inventory reports for customers and vendors.
Bar Coding
- Use bar-codes to move inventory, picking, goods receiving, and shipping processes.
- Generate bar code labels using the in-built report writer in the system
- Generate bar code labels using third-party integration to applications like Bartender.
- Utilize label printing with bar codes.
Standard or Actual Costing
- Use Standard of actual costing methods.
- Analyze purchase price or manufacturing variance when using standard costing.
- Track actual costs as and even material is procured and manufactured in actual cost environments.
- Track detailed breakdown for part costs – material, overhead, labor, outside process.
Usage Analysis
- Benefit from inventory trend and usage analysis tools available in the system.
- Identify movement and cost trends, slow-moving inventory, and obsolete inventory.
- Make decisions regarding EOQ, safety stock, and reorder points.
Location Management
- Maintain a master list of inventory locations such as shipping, receiving, quality hold, warehouse, work center, and vendor locations.
- Transfer inventory from one location to other using mobile devices.
Inventory Counting
- Perform inventory counting using cycle count or full inventory methods.
- Utilize bar codes to count inventory and reduce errors.
- Use parameters like Item types, location, and warehouse to perform counting operations.
Book a Product Demo
Contact us for an in-depth product demo on Inventory Management software for your manufacturing or distribution enterprise
Related Topics
What is Suppliers and Purchasing in ERP?
Suppliers and Purchasing in OmegaCube ERP helps manufacturers to efficiently track and manage the entire flow of raw materials right from its suppliers to the warehouse, to the factory till the final product reaches the customer.
What is Material Requirement Planning (MRP) in ERP?
Material Requirement Planning (MRP) in OmegaCube ERP helps manufacturers to accurately calculate the number of materials and components to manufacture a product. The calculation takes into account, the total number of orders in hand, existing inventory levels, and the delivery due date. Based on these parameters, material procurement is initiated from approved suppliers.
What is Planning and Scheduling in ERP?
Planning and Scheduling in OmegaCube ERP automates production planning and scheduling workflows by taking material, manpower, and machine availability into consideration. It improves capacity utilization during production, operator productivity, optimum supply chain planning, and on-time delivery to customers.
Related Blog Posts
How does ERP software make BOM Management more Efficient?
Taming Inventory Management with an ERP
Download Product Datasheet