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By: Evin Davis

5 Benefits of Centralized Inventory Management

Odoo 14 Manufacturing

Inventory the main aspect of the operation in a company which needs to have a clear-cut operational principle and methodology. In every manner, the management of an inventory and warehouse of a company is tiresome and could cost a higher portion of time, resources and money out of the company. Since the beginning of the industrial revolution institutions have been practicing various methods of inventory operation which have in one way or the other helped them to function, but this has rooted in catastrophic setbacks. 

In the late twentieth century as companies started to develop and extend their territories to vast regions, so did the warehouses which multiplied, therefore, making the management of the inventory operations even more tiresome. This was where the idea of ??centralized inventory management came in. The methodology provides access to all the aspects of a company's inventory management located at multiple warehouses down to a central facility or a system. Centralized inventory management is not a piece of cake as it involves multiple management operations and strategies to be implemented in real-time which does not prove efficient while managing the operations manually and with a pen and paper approach.

With the development of technology the digital era began and the factors such as connectivity, information sharing and communication came in handy which is affordable and reliable and efficient in real-time. Various management software and applications came into play providing reliable support in company operations. Enterprise and resource planning software (ERPs) which is one of the best management software available proved to be an apt tool for managing the company's management operations. From its development stages in the late 1980s, various application-based ERPs came to the surface and many among them provided the users with ample results in the management operations of a company.

Odoo is one among those ERPs which is best among them in all aspects of operation ranging from reliability and operational standard. Odoo the best one-stop solution for the management of business operations of a company has outweighed their benefits over its competitors. Odoo has been widely used now in various sectors of industry ranging from the automotive industry to food processing facilities. Moreover, the software from its development stages itself is a proven tool for company management and with regular updates and a reliable open source community, the Odoo platform can pave ways for your company to attain greater success.

This blog will provide insight into how having a centralized inventory will be beneficial in the operation of a company in various aspects such as:

Communication and data transfer,
Inventory adjustments and product transfer,
Time and money saver,
Security and
Real-time inventory data,

Communication and data transfer

In every aspect of the inventory management operation of a company whether it be a central inventory control system or not which is important for the information exchange and data transfer. The communication between various warehouse locations and companies can be effectively coordinated if the operations are done under centralized inventory management. The Odoo platform allows users to control the operation of multiple warehouses of a company from a single system thus allowing efficient data transfer and communication.

Inventory adjustments and product transfer

Inventory adjustments are done in all warehouses to cope up with the operations in real-time. These adjustments can reflect in the operation of the company but with a central inventory management aspect, the company can manage the operations with ease. These may be instances in the operation of a company holding multiple warehouse locations as the need for product transfer in case of shortage or external or internal reasons of the company, these can be done with ease from the centralized management aspect provided with effective communication and data transfer. The Odoo provides provision for both with effective management terminology.

Time and money saver

Profit generation is the ultimate aim in the operation of any company. Saving the time in hand and the funds could help every company to achieve it. So as in the case of inventory operation. With centralized inventory operation, both time and money can be saved in the company as it would reduce the product movement times and schedule the operation of inventory to be fast-moving and efficient in all warehouses of the company. The Odoo platform with the traceability feature as well as advanced routes and rules operation which can be customized can be helped in saving the employee time as well as the resources available.

Security 

In this modern era of digitalization security is an important aspect to control. With confidential data being stored in the company database the managers should establish the security protocols of operation. Considering a centralized warehouse operation as one user is controlling the major aspects of the operation with the central system and central database the security protocols in a system are higher rather than operating with the multiple warehouse setup. The Odoo platform offers a level-based security protocol operation where the user and the employees operating in the platform are identified using a unique verification pin. In addition, the platform also provides the provision of using various IoT devices as well as the user of various biometric devices.

Real-time inventory data

Real-time data acquisition is an important aspect in today's world as it could provide you with various benefits in company operations. One of the major aspects of advantage in using centralized inventory management is real-time data sharing and collection in the central system indicating the operations of the company. The Odoo platform on all aspects of company management operates on an effective and reliable data sharing basis; These are performed in real-time as the operations in Odoo is interlinked with various aspects of the company.

Considering the above-mentioned points there is no doubt in the fact that centralized inventory management and operation would be an added advantage and improve the productivity of the company. Odoo is the best reliable, efficient, and affordable management option that could bring in ultimate management strategies to the company.



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