Web Soft Solution

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Inventory Management

The inventory management process

highly efficient, flexible, and customizable

Inventory management refers to the process of tracking, organizing, and controlling a company’s inventory (raw materials, work-in-progress, and finished goods). It ensures that the right products are available at the right time, in the right quantity, while minimizing costs.

Here's an overview of the key steps in the inventory management process in Websoft Solution

1. Configuration

  • Warehouse Setup: Define warehouses, locations, and zones for better stock organization.
  • Products: Configure product details, including names, categories, stock-keeping units (SKUs), units of measure, and inventory rules.
  • Inventory Settings: Enable multi-warehouse, multi-location, barcode scanning, and other features based on your business needs.

2. Inventory Operations

  • Receipts (Inbound Shipments):

    • Record the receipt of goods from suppliers or vendors.
    • Use purchase orders or manually create receipts to update stock levels.
    • Barcode scanning or batch processing can simplify large receipts.
  • Delivery Orders (Outbound Shipments):

    • Manage shipments to customers.
    • Delivery orders are automatically created from sales orders.
    • Confirm and validate shipments to reduce stock levels.
  • Internal Transfers:

    • Transfer products between different locations or warehouses.
    • Ensure accurate stock movements for internal use or reorganization.
  • Manufacturing Orders (for MRP):

    • Manage raw material consumption and finished goods production.
    • Automatically update inventory for both components and final products.

3. Inventory Adjustments

  • Perform physical inventory counts and adjust discrepancies.
  • Handle losses, damages, or errors to ensure accurate stock levels.

4. Replenishment

  • Automate reordering using reorder rules, minimum stock levels, or lead times.
  • Use the “Make to Order” or “Buy to Stock” routes based on business needs.

5. Reporting and Tracking

  • Inventory Valuation:
    • Track the value of stock using FIFO, LIFO, or standard costing methods.
  • Traceability:
    • Use lot or serial numbers for end-to-end product traceability.
  • Custom Reports:
    • Analyze stock levels, movement history, and forecasted demands.

6. Integration with Other Modules

  • Purchase:
    • Sync purchase orders with inventory receipts.
  • Sales:
    • Link sales orders to delivery orders for automated stock management.
  • Manufacturing:
    • Track raw material consumption and finished product availability.
  • Accounting:
    • Automate journal entries for inventory valuation and stock movements.

7. Automation Features

  • Barcode Integration:
    • Speed up operations using barcode scanning for picking, packing, and inventory counts.
  • Batch and Wave Picking:
    • Optimize order fulfillment by grouping picking tasks.
  • Dropshipping and Cross-Docking:
    • Manage advanced supply chain operations for faster delivery.

Benefits of Inventory Management

The inventory management process is highly efficient, flexible, and customizable. It allows businesses to handle their inventory operations seamlessly, whether for a warehouse, retail store, or manufacturing unit.

Real-Time Visibility

View live inventory levels and product movements

Efficiency

Streamline warehouse operations with automation and smart routing

Scalability

Handle multi-warehouse and multi-location operations effortlessly

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