Manufacturing Inventory Software

Manufacturing inventory software is an excellent solution for the tracking and controlling of inventory effectively. This provides better control on spending, reduces inventory costs and increases productivity. This software manages the inventory in ware house inventory, logistic inventory and stock room inventory. The manufacturing inventory software can manage inventory in process manufacturing with or without the tracking and the expiration dates. Supply chain management can be done using manufacturing inventory software. Inventory software can help in ISO certification and can meet other quality requirements. Advanced manufacturing software provides additional functionality in distribution using the global trade item number. This software also provides help during data conversion and customer and supplier listing.

Manufacturing enterprises face many problems such as increased inventory carrying cost, higher premium freight charges, decreased customer satisfaction, diminished asset utilization, decreased supplier performance etc. Many benefits can be achieved if the enterprise improves the management of its supply chain and inventory flow. The manufacturing inventory software provides the benefits such as inventory reductions throughout the networked supply chain, premium freight reduction, improved transportation utilization, increased service levels from suppliers, reduced administrative effort, improved quality levels etc.

Manufacturing inventory software combines several inventory based processes by gathering, compiling, analyzing, and storing essential inventory data in an intelligent manner. Some important features of inventory software include payable and receivable accounts, point of sale, sales order, purchase order, quotations, shipping, receiving and inventory data analysis. This program helps when there is more than one location storing inventory by tracking lot numbers, barcodes and serial numbers. Many companies set special days every year to gather inventory information. This software can increase the productivity of these inventory days and make sure that the recorded data remains accurate throughout the year. The manufacturing inventory software generates inventory reports and so the numbers are available at any time of the year.

Inventory Software Can Help You Pinpoint Weak Spots In Your Inventory Management System – Here’s Why

The survival of your business is going to be dependent on more than just your ability to make money. Yes, being profitable is a good thing, but you have to understand what is truly making your profitable.

This is not going to be because you have a great product alone. Changes are there will always be a product similar to yours that might be cheaper or even flat out better.

Inventory software will enable you to know what areas of your business needs to be focused in on in order to maximize profits or sustain them so your business is able to grow.

One area inventory software can help you out in would be when it comes to making sure costumers get their products on time. On time delivery is going to be crucial, because if it is bad it is going to hurt your reputation.

Now in order to ensure proper costumer deliver a business needs to know how much time they have in order to get the product to the customer. However, the business must understand all the things that can go wrong and cause the delivery time to be extended. If these things are not taken into account then it is going to cause all sorts of problems.

Inventory software will enable you to establish what is referred to as a lead time. Lead time is like a buffer between on time delivery and what might go wrong to get in the way of this.

Once you are able to establish a lead time you will be able to cut back on clients not getting orders when they need them. This is going to ensure on time delivery, repeat orders, and the building of a solid reputation.

If you run the type of business that also manufactures products, then you probably have to deal with a lot of machines that cost a lot of money in order to operate. These machines cannot be overused or underused.

Seeing as how they cost so much money to operate, fix, and sustain, you need to make sure they are giving you the most value possible.

Inventory software is going to help you know how much work you will need to release to the shop floor in order to make sure machines to do not run out of work during a production run.

This is going to be crucial, because sometimes machines will have problems if they have to stop too often and this leads to down time. Down time mean no production, which means reduced profits.

There are certain types of costs that inventory software will ensure you keep to a minimum.All of the costs associated with inventory will need to be understood if you hope to be successful long term. You might have a good inventory management program set up now, but can you really rely on it?

The right software is going to help you understand all of the costs associated with inventory and help you realize where improvements can be made.

Some of the costs associated with inventory would include the cost to order products, the costs to store products, stockout and transport inventory, as well as costs of the inventory not being available when needed.

There are a multitude of other costs associated with inventory, all of which you have to understand and set up systems for to keep costs down.

The money you save is going to increase your bottom line. In some cases costs can be reduced by nice percentages.

This is where a business can really beat out there competition, not just through costumer orders and having a great product alone.

Helpful Warehouse Inventory Software

Managing inventory in accordance with the overall company strategy is paramount for warehouse management. Warehouse employees spend a lot of time fretting over the optimal time to order inventory and how often inventory should be counted. An additional concern is maintaining the inventory safe from theft or damage. It takes sharp minds and dedicated employees to make this happen, but inventory management software definitely helps.

Where Inventory Software Fits Into the Equation

Most companies nowadays are using barcodes to track their inventory. A barcode system consists of the barcodes themselves, a barcode printer, a barcode scanner, and of course software to manage all of the information. When the warehouse employees scan an item with the reader, the software should automatically pick this up and organize the information accordingly. This means that the warehouse manager can simply log into the company computer and see inventory levels. This makes it easier to know the optimal reorder point. This software also allows managers to see new orders coming in from the sales department. Having all of this information at their fingertips, helps the warehouse team be prepared.

One popular solution for small to medium sized businesses is FishBowl Inventory. Companies like FishBowl because of its ERP like qualities. ERP stands for enterprise resource planning. The basic idea is that instead of having one software solution for the warehouse department, another software solution for accounting, and yet another software package for marketing you have one system that all three can use. This works by having a centralized database where access rights are assigned to the individual departments.

One advantage of a centralized system like FishBowl is efficiency. Instead of warehouse petitioning accounting for information on the day’s sales, they can simply look it up themselves. Instead of marketing having to head out to the warehouse to check out inventory levels they can just login to their computers and query the database for themselves. Senior management can control which information is allowed by which departments.

Note that FishBowl isn’t a true ERP system; however, it does integrate with the most popular accounting software available, QuickBooks.

Warehouse inventory software like FishBowl not only improves efficiency, but it also improves accuracy. Accuracy is improved because the departments can enter in the information themselves. Traditionally information has been compiled in several spreadsheets, which are prone to errors, and then sent to a data-entry team. Data that is passed along several times and then combined is more likely to have errors in it then data that is entered directly from the source.

If your company is worried about having sufficient inventory on hand or if it’s just worried about controlling its inventory against theft or abuse, it might be time to invest in a warehouse software package.