Inventory Management Software
Inventory management is critical to a company's profitability and perhaps the most common reason for seeking integrated ERP software.
The inventory control application of ProcessPro® Premier ERP system gives manufacturers the visibility and on hand inventory information necessary for better production planning. Starting with the customer order, inventory is accounted for and any deficiencies are flagged immediately to alert the manufacturer. This is the beginning of maintaining appropriate levels of inventory stock in the warehouse. Other functions of inventory control involve reconciling inventory balances, monitoring item usages, and reporting on inventory status. Additionally, with ProcessPro® Premier's fully integrated ERP system, other applications such as material requirements planning, purchase orders, finance management, and more are automatically updated in real-time.
It's critical to find a balance between having too much and having too little overhead. Having too much in raw material inventory can tie up cash needed elsewhere for company development. Having too much raw material can also take up needed warehouse space or the raw material could become expired before use – both very costly to the bottom line. Having too little inventory can be costly from an employee standpoint; with no inventory to fulfill orders, employees may not have enough to do. Having too little inventory can also be costly in customer satisfaction when order fulfillment takes longer than expected. ProcessPro® Premier allows for more efficient and effective use of resources through the MRP application. MRP alerts the user to expiring inventory, recommends production start dates, automatically schedules work centers to maximize production, and so much more.
Having adequate quantities of the right inventory ensures a supply that meets the normal demands of a company's customers. Lead time is a critical component of inventory management. If a manufacturer waits too long to order raw materials, there may be long lead times or high costs involved in expediting the materials. Both situations lead to a higher cost of inventory. To truly improve inventory accuracy, improvements in material handling, transaction control, and reporting process must be implemented. All of which ProcessPro® Premier ERP can address.Additional Resources: