Enterprise Resource Planning Software
Enterprise resource planning software (ERP) is cross-departmental – it attempts to embrace and unify all the working elements of a company in a single integrated system. It has the upside of creating a single unified business delivering one version of the truth. It has the downside, and reputation, of being complex and costly to implement. At SOS, we look after SMEs. We have specifically designed our inventory operations software to be easy to use and easy to implement, whilst addressing the same functional areas as an ERP Inventory Management System.
SOS Inventory is used widely by SME stockists, discrete manufacturers, process manufacturers, distributors, rental companies and more. It addresses all the functional areas addressed by a traditional complex ERP system, but delivers it in a simple to understand, easy to use format at an acceptable price. Given the rising costs of materials, labor and shipping, an affordable stock planning software is much needed by most businesses.
The basic functions of inventory management include ordering items, storage, conversion and shipping of products. SOS inventory management software streamlines the processes and reduces your costs by helping you hold the optimum levels of stock to satisfy order demand.
As with complex ERP systems, you can create alerts to notify you when stock runs low and minimize the time a product is out-of-stock, so streamlining the fulfillment process.
Without an integrated inventory operations system, it is difficult to see a complete and accurate picture of inventory levels, and the tendency is to stock excess (just-in-case instead of just-in-time) so wasting money. If your products are perishable, the problem is exacerbated.
The goal of SOS Inventory is the same as for any respectable ERP inventory management system; it is to decrease overhead costs, improve efficiency and eliminate accounting errors that come from duplicate postings.
Manufacturers and distributors alike have similar problems to address:
Excess Inventory – Bad planning and control often leads to excess stock. Simply having a joined-up system where sales, purchasing, stock and finance are all integrated can create massive benefits. Integrated barcoding can help speed up stock take, cycle counting, general data entry and reduce keying and transcription errors.
Inventory Shortage – are just as damaging, leading to unsatisfied orders impacting reputation and cash flow. SOS Inventory uses alerts to notify you when inventory count drops below optimal. At times when your product is at greatest demand, perhaps in the holiday season, you don’t want to miss out on sales because you’re out-of-stock on an item and can’t deliver in time to meet demand. Automation of the reordering process is essential for continuous flow of products from supply chain to destination.
Dead Stock (Slow moving/ No moving Stock) – In a decent ERP inventory system and, indeed, in SOS Inventory identifying these items to drive promotions, or just to clear the shelves, is important. Perishable products are a bigger headache. Food items or products with expiration dates will cost a business money if not sold before they must be eliminated.
By analyzing historical sales and seasonal trends, your inventory software can forecast sales to facilitate more reasonable stock quantities. Operations will run smoother; orders will be fulfilled in a timely manner and waste can be eliminated.
The Benefits of Enterprise Inventory Software
Know where your goods are at any point in time. When you automate your inventory management, you’ll always know what your supply is at each location. Keep up with ordering trends and be prepared for what’s on the horizon, predicted by historical order analysis.
Greater control over your inventory allows you to keep up with stocking your best-selling items, cut back on slow moving products and avoid accumulating dead stock that wastes money and takes up space.
A good ERP system will give you all the tools you need to control your business, including multi-faceted QuickBooks inventory management tools.
SOS Inventory does this for SMEs, in a manner that is easy-to-implement, easy-to-use and affordable.
A Cloud ERP Solution for Enterprise Resource Planning Inventory Management
While operating QuickBooks on a desktop application, a business depends on the performance of its local server and IT staff. Managing the upkeep of complex software on a local network brings the burden of costly upgrades and repairs. When you work with a cloud ERP manufacturing solution, your business benefits from the ongoing upgrades and maintenance handled by the software company. That translates to savings in your operational costs year over year, and ensures your business never has to work around downtime.