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By: Evin Davis

How to Manage Ageing Inventory using the Odoo Inventory Module

Functional Odoo 15 Warehouse

Unlike the older days when consumable products, especially food items, meat and dairy and vegetables, and fruits, were directly accessed from markets or farmers. However, today is not the case; we can see farm products in supermarkets, local shops, and packed food items that have been processed to be durable for more extended periods. Thanks to the technology and advancement in agriculture, the farmers can now receive good yields for the products and consumers at the right time. Moreover, one of the vital aspects of dealing with the perishable product is the capability to precisely manage the inventory, which is an element that most businesses lack and are striving to achieve. In this modernized era of faster-paced operation, the old pen and paper methodology will not be enough; instead, the industry needs dedicated management solutions and tools explicitly concentrating on the inventory and allied logistical operations.
Today, dedicated and complete tools are available for the inventory management aspects in the market, which is costly and comes from a more extensive history. However, businesses need a reliable, helpful solution that is capable, affordable to anyone, and capable of running the business in any region, format, and sector of the functioning along with the most advanced and up-to-date facilities. Odoo is one such business managing tool falling into the category of Enterprise and Resource planning solutions with complete operational business management capability. The Odoo platform has a dedicated inventory management module that is available to the modular structure of business operations, providing comprehensive and effective inventory management and control over the logistical processes.
Regarding managing the perishable product, the Odoo platforms are the best suitable solution for adequately managing the inventory as customizable. They can be defined based on the business, and its operational needs. This feature is beneficial for the company that deals with food products, farm produce, dairy and meat, fruits and vegetables, and all forms of expiry products. The dedicated structure of the inventory module and the definite menus and functional tools of operation, the Odoo platform, will be the complete solution that the business is looking for. Available in two editions, the Community edition, where there are limited functionalities with minimum features for the management of internal operations, and with the enterprise edition, which has unlimited capabilities and the ability to customize the platform as per the need, the Odoo platform will become the trendsetter for the business dealing with perishable products.
This blog will explain how the Ageing Inventory for the perishable can be effectively managed with the Odoo platform.
Odoo is a complete and effective business management solution that will provide the business with dedicated, comprehensive, and influential management. The Inventory module of the Odoo platform is advanced with the ability to run complete and adequate warehouse management operations for the business with a dedicated approach to business management effectiveness.
How is the inventory of perishable products being managed in the Odoo?
The dedicated inventory management module has all the functional tools which will allow the business to deal with the operation of the products. Regarding the perishable products management and operation of the inventory, there is a district way of functioning in the Odoo platform with tools that keep the manageability at the tip of your fingers. The following are how the Odoo platform supports the aspect of the Perishable product management using the Inventory module:
Lost and Serial Numbers.
In the Odoo platform, the manageability of the perishable product starts with defining to distinguish between their time of arrival to the inventory. This can be done by specifying the Lots and Serial numbers on the products. The Lots and Serial numbers can be custom-defined and depicted throughout the Odoo platform while dealing with the respective products while running operations on them. In addition, the Lots and Serail number will be defined in the Sales Order, Purchase order, Inventory Statement, and all of the Accounting statements of the Odoo platform. This will help with the product tracking and traceability of the product moves within and outside the organization.
Definition of Expiry Date
The Expiration date on the products will help identify when the product is not to be sold and consumed. Both the Expiry date and the best before dates can be defined. Moreover, the Expiration dates will be calculated from the day defined in the Odoo platform. The definition of the expiry dates for each product and the Lots being described will help with product removal.
Product Removal Strategy
The Odoo platform supports the aspects of effective product management for the product removal aspects by defining the product removal series. The product removal in Odoo can be set in three different ways First In First Out(FIFO), Last In Last Out(LIFO), and based on Expiry Dates. You will be able to set the product removal for the company based on any of the aspects and especially regarding the perishable products; the Product Removal Strategy can be developed based on the Expiry Dates of products.
These are certain of the significant aspects that the Odoo inventory module put forward to the user of the Odoo platform in regards to the functioning of the perishable product management. You can read the following blog, which will provide you with the proper functional insight on the configuration aspects of the Odoo platform for the direction of the perishable products: 

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