Inventory management software is a computer-based system for tracking inventory levels, orders, sales and deliveries.It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets. It is often associated with and is similar to distribution software, as distributors that can compete with less cash tied up in inventories have a distinct advantage over their competitors.
BOM (Bill of Materials) — Allows the user to view the list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts and the quantities of each needed to manufacture an end product.
Stock Monitoring — This feature gives you the capability to monitor changes in the stocks. This will increase purchasing efficiency and reduce delays in new inventory orders. It will also allow your employees to access up-to-date and reliable information on current inventory, thus achieving complete inventory control.
Stock Adjustment — This feature gives the user the capability to adjust stocks.
Stock Replacement — This feature allows the user to make the stock full again in order to avoid stock-out.
Report Generation — The system generates a variety of reports. These reports include Item for Replacement, Inventory Quantity Report, Inventory Cost Report, Min-Max Report, Price List Report, Cost Analysis Summary, Cost Analysis Detail, Cost Analysis Detail Report View, Released Item per BOM, Released Item per BOM View, Non-Production Withdrawal Summary Report, and Non-Production Withdrawal Summary Report View.
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