Optimize your Inventory with a responsible Inventory Management System!

Optimize your inventory with a responsible Inventory Management System! 

 

                                      Inventory Management is the key to achieving optimal operational efficiency of an organization. It plays a major role in contributing to the overall profit of an organization.  

                                         

                                      If properly managed, it helps in achieving the desired effectiveness and efficiency of the organization. To make this happen, a planned, efficient and organized inventory management system needs to be deployed in the organization. 

                                       

                                        

                                       

                                      Odoo is one such system that helps you in optimizing your inventory. Let’s see how:  

                                       

                                      • Inventory Setup: This includes defining warehouses, locations within those warehouses, units of measure, product categories, push rule, pull rules, put-away rules, routes, picking strategies, storage methods, etc. 

                                      • Product Management: It includes configuring and managing products, defining attributes for products such as name, description, price, barcode, product type, supplier, reordering rule, replenishment type, bill of material, tracking method, package type, etc. 

                                       

                                       

                                       

                                      • Inventory Transactions: Odoo supports various inventory transactions like stock adjustments, stock transfers, internal moves, receipts, moves history and deliveries, source location, destination location, source package, destination package, status, etc. These transactions can be executed manually or automatically based on pre-configured rules. 

                                       

                                      • Stock Operations: Odoo provides the functionality to perform various stock operations like picking, putting, packing, resupply with subcontracting, resupply with dropshipping, dropshipping and regular shipping of products. These operations are usually associated with sales orders, purchase orders, delivery orders or internal transfers. 

                                       

                                       

                                       

                                      • Real-time Traceability: Odoo gives real-time stock visibility throughout the product lifecycle with the help of product tracking, origin history, stock history, moves history, etc. reports to get real-time actionable insights. 

                                       

                                       

                                       

                                      • Stock Valuation: Odoo provides different valuation methods for evaluating the stock valuation like FIFO (First In First Out), LIFO (Last In First Out), Average Costing, Standard Costing, etc., that can be configured according to your business requirements.