inventory management erp

 As supply chain networks have become more multifaceted, the stipulation for augmented and enhanced supply chain technology solutions has become acute. Technology based solutions not only provides significant development to address the needs of manufacturers, distributors and retailers but also can trigger a cascade of direct and indirect effects on business.

supply chain can never be efficient and effective if inventory is not managed properly. Inventory is one of the most valuable assets a company owns. However, the people who manage and operate it must understand that. There are a number of problems that can cause havoc with inventory management and some occurs very frequent

Inaccuracy takes shape in many forms, such as inaccurate stock quantities, inaccurate storage locations, inaccurate pricing and inaccurate identification. At some point in time, most companies experience an inaccurate stock quantity of one or more products in their warehouse.inventory management erp

Often storage becomes crowded with pallets and cases of inventory, a common reason for poor inventory control is a disorganized and inefficient distribution centre. Operators simply place inventory in whatever open space is available rather than following a common system of organization and tracking in-house inventory.

Disorganized inventory leads to delays and inefficiency in retrieving items. A company may have one carton of a product left but is unable to find it because of storage problems. The product then becomes obsolete and gets written off the company's balance sheet.

Damaged inventory happens in numerous ways. If a company experiences an abundance of damaged inventory it should conduct a root-cause analysis to determine the origin of the problem. One of the major issues is inventory typically gets handled multiple times in a warehouse for identification of a product or its retrieval. Each time it gets touched or moved it becomes liable to damage