How ERP Improves Inventory Visibility

Enterprise Resource Planning software makes purchases, sales, accounting, production, supply chain planning, inventory and all other business operations easy and hassle-free.

Let’s understand how an ERP solution helps you improve inventory visibility.

5 Ways ERP Improves Inventory Visibility in Your Supply Chain:

1.  Resolves unpredictable scenarios

  • ERP promotes automated processes and integrated production functionality. It synchronizes production, sales, financial management, and warehouse management and automatically tracks the movement of every inventory item.
  • Reporting functions yield accurate insights and data is updated in real-time. As per SAP Performance Benchmarking, manufacturing organizations that use SAP Business One experience an 8% increase in plan adherence.
  • ERP integrates material availability data with delivery dates and real-time manufacturing conditions. This can significantly enhance customer satisfaction and cost-efficiency.

2.  Enhanced just-in-time inventory strategies

  • ERP eliminates the need formanual scheduling. ERP promotes a just-in-time inventory strategy. Materials are ordered and received to meet production requirements. It saves overhead inventory expenses and manages time.
  • Enterprise Resource Planning software enables real time inventory visibility, tracking and data management. A JIT strategy increases efficiency and cuts cost by receiving goods only when required.

3.  Better inventory levels and improved customer relationships

  • Get insight into point-of-sale online transactions, shipping data, procurement and production data, all on a single screen. This enables data-led decision-making which nurtures relationships with customers and vendors.
  • With real-time dashboards, businesses can view the inventory status at different plant locations, warehouses, stores etc.
  • ERP provides you the functionality to monitor trends to ensure you meet customer demand on time. This develops a loyal client base which increases rapport and profitability.

4.  Drive omni-channel growth

  • Manage inventory across multiple locations and channels
  • Receive sales orders from multiple sources and automate the process
  • Promotes cross-channel inventory movements

5.  Provide actionable insight

  • User-configurable reports and dashboards help businesses analyze global finances and rolled-up data
  • Material requirement planning functionality ensures optimum stock levels
  • With data at your finger-tips, you can make better business decisions

Conclusion

SAP Business One, one of the renowned ERP software systems for small and mid-sized businesses, effectively balances inventory management and sales orders for better business growth.

SAP Business One’s capabilities that help improve inventory visibility in your supply chain are:

  1. Automated sales order entry – Ensures that sales orders are linked to real-time inventory data
  2. Enhanced inventory tracking – SAP B1 lets you track when inventory is procured, moved or sent out of the warehouse
  3. Courier/freight automation – Integrates your technology with courier companies or freight specialists
  4. Better integration – Every department is integrated smoothly. Inventory, Finance, Sales, Procurement, Accounts – every department is interdependent. This gives you better insights.
  5. MRP automation – Order recommendations are designed for timely delivery. It gives you detailed information about the requirement for products.
  6. Predictive forecasting – it lets you manage and predict stock levels to meet customer demand

 

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We’d love to hear from you about your project. Whether you are interested in a new ERP system for your business, or if we can assist with your current system, get in touch!

Email: info@aceteksoftware.com

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