Inventory and warehouse management is one of the efficient methodologies to reduce the loss of the products caused due to inefficiency in distribution and the operations of supply chains. In addition, it's estimated that more than 50 percent of the enterprises never even bother to have inventory management solutions or even have manual routine operations of a healthier inventory and warehouse management. Considering a production or a supply chain company the inventory management and its allocated operational control by the company executives will determine the route and the efficiency in functioning.
The Covid 19 impact on the world has even disrupted the functioning of all the business in the world and this establishment was prone to adapt to newer business models and flexible solutions. Among these modifications the important aspects which would decide the functioning of the company was that of inventory management. Moreover, there were certain business models which were successful even in this era of devastation, as they had adaptive business modules included with capable advanced solutions and tools of functioning.
Odoo ERP is one of the adaptive and efficient solutions to function in the catastrophic state of the world. Developed at the beginning of the 21 sts century Odoo is considered as one of the advanced and updated business software models capable of functioning with any sector of operation. Additionally, the modernized solution will come power-packed with advanced features and capable options which will provide you with all the tools of having reliable, and efficient as well as effective business management operations.
This blog will provide you with insight capabilities and features of using Odoo inventory management for the operations of a warehouse and that of the company.
Before moving on to Odoo inventory management shows some light on the Odoo platform and its functioning. Odoo ERP design to be functional in a single platform can be fully operated and controlled from a single system. Moreover, the centralized approach to operations makes it have a single platform, centralized inventory, and database management. This will result in effective distribution of data and reliable communication within the company as well as information sharing. Additionally, with the modular approach to business management operations, the platform provides you with a designated application-specific module to manage and control all the operations of the company on all levels with ease and effectiveness. Let's now move on to understand how the Odoo inventory management will help you to maximize your warehouse operations efficiency.
Odoo inventory management- Maximize warehouse efficiency
Odoo ERP has a dedicated inventory management module that is interconnected in operation with all other modules of the platform providing you a single trajectory towards operations. Moreover with advanced operational principles such as drop shifting, cross-docking, double-entry valuation, inventory adjustment valuation techniques, and many more the Odoo inventory management will act as the perfect solution for the functioning of a company's warehouse.
Let me describe to you some of the issues faced by the institution without a proper inventory management tool such as Odoo ERP:
- The inability for the sales teams to know about the product stock causing product stock-outs and have multiple orders to supply
- The purchasing team will order extensive products without realizing the stock in hand. Incoming destructive if dealing with perishable products.
- Lack of traceability and tracking will disrupt the product moves both in and out of the company.
- Precise and defined report generation will be unavailable without dedicated tools, hence making the process of analysis and report generations time-consuming and ineffective.
These are some of the aspects that a company's inventor will lack without the use of dedicated management tools. Let's now move on to understanding how the Odoo inventory management tool will be providing you with effectiveness in the operations.
Here are some of the features and benefits of using Odoo inventory management:
- Dedicated module with adjacent supporting models to manage the operations
- Control of both inward as well as outward product movement
- Centralized inventory for full control of operation making the data and the stock data clear to both purchase as well as sales teams.
- You can configure barcodes for products as well as for the assessing of service charges, promotions, coupons, and any other aspects to an invoice towards the customer.
- Automate various inventory operations
- Assign reordering rules along with the stock limit both for minimum as well as maximum values
- Describe the product movement operations routes and rules involved for the product removal and loading up to the warehouses.
- Manage multiple warehouses both physical as well as virtual ones.
- Inventory forecasting other report generation features based on business intelligence reporting
- Double-entry inventory system with effective storage and data sharing based on the centralized database design
- Use of barcodes and lot numbers for the tracing as well as the traceability of the products in the platform.
- Assignation of expiry dates and provision to enable the auto removal features of the platform.
- Tools to manage and control the possibility of overstocking in the odoo warehouse
- Advanced operational methodologies such as cross-docking, dropshipping, and many more can be defined in the platform
- Manage the HR operations and the employees functioning in the company's inventory and distribution operations
- Integrations with the fleet management module to manage the delivery operation.
These are some of the features and capabilities of using Odoo inventory management which in turn will maximize the warehouse operations efficiency. Additionally, if you need further understanding of the benefits of using Odoo inventory management you can read the following blog, where the benefits and features other than the ones mentioned in this blog are being described: Benefits of Using Odoo Inventory Management