When it comes to inventory control, Acumatica is one of a handful of enterprise resource planning (ERP) solutions available for businesses. Acumatica increases quality and creates valuable processes to cut costs and increase revenue. While any business control software is good for your inventory management, there are several things you need to keep in mind when implementing an ERP system. Proper user management, location controls, tracking systems, and workflow planning are all essential for proper inventory control.
User Management
An essential part of inventory control, an ERP implementation needs to give you analytical and procedural controls over your inventory's touch points. Customers, employees, and vendors all have some effect on your inventory's cost and revenue stream.
Location Controls
Another important aspect of control processes is the ability to manage inventory via the cloud. This allows you to manage inventory from the time it enters your warehouse to the time it leaves. Using a cloud-based ERP for inventory controls becomes even more essential when selling large amounts of inventory on consignment to other distributors.
Tracking Systems
Good inventory tracking is the foundation of moving from a just-in-case (JIC) inventory scenario to a just-in-time (JIT) inventory scenario. A JIT inventory system simplifies your accounting, reduces capital costs, and gives you more opportunities for long-term relationships with vendors.
Workflow Planning
Good inventory tracking allows you to plan your workflow more accurately. A more accurate workflow leads to reduced costs, as it can prevent the incorrect placement of inventory, lower the instances of stock outs, and reduce the possibility of inventory “aging out.”
It is essential that the ERP software you choose have these four aspects of inventory control. For more information about ERP essentials, or to learn more about adding inventory controls to your current Acumatica solution, please contact Oates & Company today.
