Inventory management is a crucial part of a business. Thus we have to find out the best ERP partner to manage our inventory operations. Make sure that your inventory management tool can be easily integrated with other ERP applications to ease the interdepartmental operation. Don’t forget to check the ease of accounts management and payment management.
Odoo Inventory module can surely be the right solution for your inventory-related apprehensions. It will maximize the efficiency of the warehouse and manage the warehouse using the most modern technologies available in the market. This online platform will make inventory management an easy task even from a distant location. This tool will help the user to manage multiple warehouses.
Advantages of Odoo Inventory module
The improved performance level and process time
Odoo offers complete assistance to organize the warehouse. It supports a smart double entry inventory system increasing the efficiency of the operations. A double-entry system enables us to track the product movement at different levels, from supplier to customer. It prevents the loss of the products during the movement. We can avoid the use of stock input, stock output, and transformation. Instead of these operations we can track and manage the stock movement between different locations. This open-source tool is apt for managing the stock and internal operations.
Automated replenishment support
Odoo offers replenishment support. This is a major feature that falls under the Operations menu of the Odoo Inventory module. As Odoo inventory has a forecast management system we can assess the actual demand and expected demand. The inventory plans should also be made based on this assessment. Automated replenishment support avoids stock-outs and less stock. We can always assure the availability of raw materials or products. This also supports managing minimum and maximum stock levels. The replenishment can be managed manually or automatically. We also get support for generating orders to replenish the stock. Automated generation of RFQ or manufacturing orders are also supported by this tool.
Flexibility
Odoo, being an open-source tool, is the most flexible tool. Besides, it is a user-friendly application that can be accessed by all. This tool can be used by any person. This tool can be used to manage one warehouse or multiple warehouses. A user-friendly interface and different views also help the business to manage the operations in an effective manner.
Anywhere anytime
Odoo inventory management tool supports barcode and serial numbers and lot numbers to track the operations. This enables the user to track the products and orders from anywhere and anytime.
Delivery Order management
Odoo ERP will enable the users to manage all types of delivery orders. We can pack the orders using barcodes. We can do the same without a barcode also. As the products are tracked we can plan deliveries based on the availability of the product.
Quick support for inventory adjustment
With an efficient tool, it becomes hassle-free to create an inventory for a specific product. We can also manage and create inventory for a lot or batch. This also supports us to transfer the products from inventories.
Multiple location management
We may have different inventories at multiple locations. These warehouses may be situated in different countries or locations. In the same way, we will have different zones or shelves in the same warehouse. With Odoo we can manage multiple warehouses and different warehouse locations effortlessly.
Manage different operations
In Odoo Inventory Operations is the most important menu. We can manage all orders including delivery orders and scraps from here. We can also manage the inventory adjustments, batch transfers, and locations from the same menu. When we open the operations page, we can get a view of the delivery orders, receipts, etc. The same menu helps us to manage the packing of the products with the support of barcodes. Stock transfer from one location to another using the batch transfer option is also made possible with this easy-to-use tool.
Ease Routing
We can manage operations like Dropshipping, cross-docking, shipping, multiple warehouse management and push and pull routes with Odoo Inventory. This will help us to deliver the product to the buyers that too directly from the warehouse of the suppliers. We need not manage an inventory for e-commerce business but still can manage the inventory of the supplier.
The push and pull routes will help to design product routes and transfer the orders between the warehouses located at different places. This tool with cross-docking support extends our support to unload the materials purchased from vendors and transfer these items to the delivery points.
Traceability of the products
Odoo ERP for inventory management is the best as it supports the management of the activity logs or the history of the operations. We can track the picking of the product, delivery order creation, quality control, and all other activities with the support of the activity log.
Serial number tracking is another support that can be used for managing traceability. We can track the product including raw material or manufactured product using serial numbers. These serial numbers can be used in the invoices as well to track delivery orders and internal moves.
Product management
Odoo has an efficient system to create and manage products. We can manage the expiration date of the products. We can use Odoo inventory to manage the product category as well. This application can use the barcodes for the product and set custom fields.
Inventory valuation
Odoo Inventory module supports us for inventory valuation with different costing methods to find the standard price of a product. We also get support for landed costs of the product cost and get the exact value of the inventory.
Reporting
Reporting helps to assess the performance and improve the operations. In Odoo Inventory we have options for warehouse analysis, inventory forecast, etc.
Effective integration support
Odoo Inventory module can be integrated with Odoo Accounting, Odoo Sales, Odoo Quality, and Odoo Purchase. We can also integrate Odoo Inventory with shipping connectors such as FedEx, EasyPost, UPS, bPost, DHL, and USPS. We can also integrate Odoo with Powerful API.
We can discuss the different functionalities of Odoo inventory in other blogs. Keep track of our website www.cybrosys.com to know everything about this module.