Be it small or big, every single person in business is striving for saving and increasing their hard-earned money by using different types of tactics so that they can survive in dire times.
A number of manufacturing companies are banking on the latest ERP software available in the market in order to prevent daily errors and gain accuracy in the supply chain.
There are numerous open-source software tools for supply chain management equipped with advanced features and functionalities, making your supply chain tasks easier. But, unfortunately, as per some supply chain administrators' view, most of them are not up to the challenge.
As such, covid-19 has disrupted the global supply chain system, which requires an urgent solution to get it back on the right track. So, the question here is, which ERP software can meet every demand of the supply chain? And the answer is Odoo, which is the perfect choice for improving your inventory performance so is the supply chain.
What Role Does Odoo Play in Supply Chain Management?
Supply chain management is the cycle of manufacturing products and delivering them to customers. It is a long process as the producers reach one person to another, including suppliers, manufacturers, wholesalers, retailers, and finally, customers. You can make this time-consuming process simplified by integrating Odoo ERP with your supply chain management.
Furthermore, it becomes easy to manage a wide variety of supply chain operations using a single platform provided by Odoo, making your supply chain more transparent and efficient while satisfying customers' demands.
Managing the supply chain in a proper manner is an exhausting task as it includes the process of getting raw materials from different suppliers and partners through interaction to launch the final products in the market. Here, Odoo does multiple tasks like improving efficiency, reducing waste, and automating crucial operations, which generally require human interference.
Odoo owns various interconnected modules that support supply chain processes from procurement to storing, resources distribution to manufacturing, and finished products to logistics and shipping.
Effective Management of Inventory
The performance of the supply chain depends upon the accurate management of several tasks of your inventory as it affects other aspects of your business. That means if the inventory performs well, so is the supply chain. The Odoo inventory management module for the supply chain maintains the stock levels by providing real-time data on product demands. Forecasting in Odoo ERP helps purchase or order products at the right time.
Vendors also play a key role in sustaining the supply chain operations as you buy raw materials or finished products from them. Odoo ERP has vendor-friendly features and functionalities through which you can effortlessly check out the price list of various suppliers helping you make the right decision for purchasing goods on a budget. Moreover, it is very easy to peep into the stock availability of suppliers and your order status using the app.
Odoo module for supply chain management provides you with an accurate tracking system that tracks crucial tasks like stock availability, procurement requests, late deliveries, product quantity and quality, number of defective products repaired, and quantities purchase, improving the company's decision-making.
Manage Multiple Companies at the Same Time
Odoo has a single instance that syncs operations between various companies and warehouses. In addition, with the Odoo SCM tool, it is easy to create sales & purchase orders and manage invoices for multiple companies with the help of automated features.
Better Logistics and Shipping Management
Accurate Logistics management is required to effectively monitor the shipping activities. One can manage shipments easily by obtaining better visibility in shipping. Improved visibility warns you about possible threats in advance, which help you reduce risks and flaws and avoid inconvenience. Odoo gives you real-time data about shipments, thereby saving shipping time and eliminating unnecessary expenses.