Improving Your Inventory Management with Odoo Inventory Module
Inventory is any raw materials, work-in-progress (WIP) goods, or finished goods that are being held in stock by a Malaysian business.
In any Malaysian business, regardless of its size, inventory often takes up the largest part of its current assets.
See your business should adopt which types of inventory control.
With that being said, inventory management can actually bring quite an impact on the success or failure of a Malaysian business.
Inventory management is one of the critical aspects that Malaysian business owners should always pay attention to.
With proper inventory management, a business will only be able to avoid inventory issues such as overstocking, understocking, and lack of stock traceability, which can all bring losses to the business.
Proper inventory management is also crucial as inventory size expands when the business starts to grow.
Therefore, it is essential for Malaysian businesses to have their very own most compatible inventory management system that ensures inventory management efficiency.
Odoo's Inventory Module is one of the best tools Malaysian businesses can implement for better inventory management.
With Odoo ERP's Inventory Module, Malaysian businesses can manage their entire inventory and solve inventory problems from one single integrated platform.
Features of Odoo Inventory Module that could help improve businesses’ inventory management are listed as shown;
Clear data and information can be easily accessed on Odoo Inventory operation dashboards.
Materials availability, product quantity demanded, and reserved product quantity can be set and checked effortlessly in Odoo Inventory.
Lists of suppliers, supply prices, delivery time, material quantity available, and more, can all be viewed from a single platform at Odoo Inventory.
Sales price and purchase price can be compared in Odoo Inventory, allowing businesses to come up with a more competitive price range.
Replenishment of materials/ products can all be done from Odoo Inventory Module. Purchase orders will be created automatically as well.
Odoo Inventory Module users can have access and control over the delivery order dashboard.
Auto replenishment is available in Odoo Inventory according to the minimum threshold, maximum quantity to be reached, and Multiplier of Quantity.
Odoo Inventory Module provides the option for users to run the Smart Scheduler function to automatically create Request for Quotes (RFQs).
Internal inventory adjustments are allowed in Odoo Inventory, encouraging flexibility in inventory management.
Odoo Inventory reports provide in-depth information such as product and warehouse location.
All inventory operations will be stored as history in specific documents of Odoo Inventory for better traceability.
Serial numbers and manufacturing lots can be tracked and traced in Odoo Inventory.
We cannot stress enough how important it is to use an inventory management system for businesses especially wholesale distribution companies to manage their inventories well.
No matter how small or big a business is, inventory management should always be prioritized along with the other departments of a business.
If you wish to improve your inventory management system with Odoo Inventory Module, we are here to help!
Reach out to our team of ERP system experts at onnet.my now!