How ERP Improves Inventory Visibility
How ERP Improves Inventory Visibility
Enterprise Resource Planning software makes purchases, sales, accounting, production, supply chain planning, inventory and all other business operations easy and hassle-free.
Let’s understand how an ERP solution helps you improve inventory visibility.
5 Ways ERP Improves Inventory Visibility in Your Supply Chain:
1. Resolves unpredictable scenarios
- ERP promotes automated processes and integrated production functionality. It synchronizes production, sales, financial management, and warehouse management and automatically tracks the movement of every inventory item.
- Reporting functions yield accurate insights and data is updated in real-time. As per SAP Performance Benchmarking, manufacturing organizations that use SAP Business One experience an 8% increase in plan adherence.
- ERP integrates material availability data with delivery dates and real-time manufacturing conditions. This can significantly enhance customer satisfaction and cost-efficiency.
2. Enhanced just-in-time inventory strategies
- ERP eliminates the need formanual scheduling. ERP promotes a just-in-time inventory strategy. Materials are ordered and received to meet production requirements. It saves overhead inventory expenses and manages time.
- Enterprise Resource Planning software enables real time inventory visibility, tracking and data management. A JIT strategy increases efficiency and cuts cost by receiving goods only when required.
3. Better inventory levels and improved customer relationships
- Get insight into point-of-sale online transactions, shipping data, procurement and production data, all on a single screen. This enables data-led decision-making which nurtures relationships with customers and vendors.
- With real-time dashboards, businesses can view the inventory status at different plant locations, warehouses, stores etc.
- ERP provides you the functionality to monitor trends to ensure you meet customer demand on time. This develops a loyal client base which increases rapport and profitability.
4. Drive omni-channel growth
- Manage inventory across multiple locations and channels
- Receive sales orders from multiple sources and automate the process
- Promotes cross-channel inventory movements
5. Provide actionable insight
- User-configurable reports and dashboards help businesses analyse global finances and rolled-up data
- Material requirement planning functionality ensures optimum stock levels
- With data at your finger-tips, you can make better business decisions
SAP Business One, one of the renowned ERP software systems for small and mid-sized businesses, effectively balances inventory management and sales orders for better business growth.
SAP Business One’s capabilities that help improve inventory visibility in your supply chain are:
- Automated sales order entry – Ensures that sales orders are linked to real-time inventory data
- Enhanced inventory tracking – SAP B1 lets you track when inventory is procured, moved or sent out of the warehouse
- Courier/freight automation – Integrates your technology with courier companies or freight specialists
- Better integration – Every department is integrated smoothly. Inventory, Finance, Sales, Procurement, Accounts – every department is interdependent. This gives you better insights.
- MRP automation – Order recommendations are designed for timely delivery. It gives you detailed information about the requirement for products.
- Predictive forecasting – it lets you manage and predict stock levels to meet customer demand
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