Odoo Inventory Management
Odoo is an open-source ERP software. Integrating Odoo ERP software with your management system brings a rapid improvement in the supply of products from manufacturing to delivering the products to the customer location.
Odoo inventory management software gives companies the right to track and manage sales.
Odoo inventory management allows you to keep an eye on every product activity until the products reach the distributors.
Inventory module effectively handles Odoo inventory related operations like the landed cost management, scrap management, inventory report generation, warehouse analysis, and inventory valuation, which can be viewed in the inventory overview page once configured.
Inventory control is essential for every large industry. Odoo inventory management module eases the process of tracking inventory. With serial numbers and lot numbers of the products on hand, you can easily trace the company's products. Double-entry inventory full traceability from supplier to customer. With double-entry integrated inventory management, every data remains safe and sound.
While getting the purchasing order from the salespersons, specific serial numbers and lot numbers are given to the particular products. The software has a warning system that alerts the users about the wrongdoing with the serial numbers. It ensures that the serial numbers are correctly assigned.
With the support of the Odoo inventory management app, you can supervise the movement of several warehouses of the same company at different destinations.
The biggest perk of getting the Odoo inventory management module is that you are allowed to add additional warehouse locations in a queue to track and manage the product movements shipping from one warehouse to another. It provides a proper inventory management support.
This Odoo app paves the way for the operation, which allows you to handle the entire product movement, which includes purchase, sales, and manufacturing.
These routings in Odoo can be customized depending upon the business needs or availability of the workforce in the organization. The existing default rules in the platform determine the operation routes.
Automation & Reporting
The Odoo inventory platform facilitates the users to fix the reordering rules on existing products which helps a company to get rid of overstocking and keep the stock levels in balance.
If there may be low stock, the Odoo warning message will exchange reliable information about the low stock.
The Odoo Warehouse management includes the advance inventory reporting feature allowing users to prepare reports according to the information available on the platform.
In addition, you are free to alter the reports based on your own organization needs.
A Reason for Your Enhanced Business Efficiency
Recent advancements have brought about remarkable changes in the IT field, forcing almost every company to adopt new strategies to remain stronger in today's cut-throat competition. The latest technology helps manage your business operations with ease. Today, it has become mandatory to get an efficient ERP system that can smoothly handle your daily tasks.
The Odoo ERP (Enterprise Resource Planning) has proven to be a useful tool in managing various inventory processes such as inventory levels, shipping, sales orders and purchase orders. Odoo inventory management module is a boon for companies whose business processes are slow and want to streamline them in an organized way. The management of your inventory and products can be much easier after adopting Odoo ERP. Odoo is open-source software having a fully integrated system that has made things possible which seemed impossible in earlier days.
Features of Odoo Inventory Management
Here are some key features of Odoo inventory that every business person should be aware of.
Transparent & Streamlined
A flexible design, user-friendly interface, and tracking system making Odoo inventory a multi-tasking business management module.
Support Key Operations
Odoo inventory mangement system supports all critical tasks that include scheduling delivery orders, monitoring and controlling incoming and outgoing deliveries, managing inventory levels and packing products with specific barcodes.
Adverse consequences you might face in the absence of Odoo inventory Module
Your inventory management cannot function properly without Odoo ERP management. In the absence of Odoo inventory, you will have to face many troubles.
Bad Relationship with Distributors
Troubles arise when you get a big order to manufacture thousands of products. On the other hand, your sales department passes that order without checking whether there is sufficient stock in the inventory or not. In case of insufficient stock, you have to cancel the order resulting in a bad relationship with the distributors. You have to face anger from the consumers.
Orders of Irrelevant Products
This is the biggest disadvantage of not having an Odoo inventory management system. In the absence of the Odoo inventory app, you can not figure out the current market trends and order the products, which are not in demand. As a result, it causes a significant loss to your company in terms of profit.
Cause Tracking Failure
Sometimes, you are not aware of the products available in the inventory because the stock can't be traced accurately due to Odoo inventory absence. This can lead to massive product wastage. In some cases, the chances of product theft increase.
No Location Traceability
It is like, the products are displayed in the inventory, but you can't track the exact location resulting in time and resources wastage. It is very challenging to spot the small products in the inventory.
One thing is clear that without the Odoo ERP inventory module, you have to face many complications and a lot of criticism from customers as well. These factors are enough to harm your company's productivity.
Manage Inventory with Odoo ERP
Are you still struggling to make double entries and prevent human mistakes while handling crucial inventory related operations? If that’s the case, you need to rethink. Don’t spoil your business process by carrying out inventory operations recklessly. Avoid practices that badly harm your system. Hence, you need to adopt an automated inventory management system to get rid of running inventory operations manually.
One question will definitely come to your mind that which inventory management system will suffice your inventory needs. Before the explanation of software features, we understand what qualities inventory management should have.
Software must manage multiple products and locations at the same time. In addition, it tracks the purchasing and sales record with sheer accuracy while monitoring cycle points.
Having these qualities in the software will manage your business assets effectively. If you are looking for the best inventory management software, you should think of buying Odoo, which includes a vast collection of business apps that can transform your system. An updated version of the Odoo inventory module accurately look after the warehouse management and other business tasks of an organization.
Let's move on to discuss how your business can benefit from the Odoo inventory module.
Tracking Multiple Products
The process of manufacturing products and delivering them to final customers is always crucial. It requires accurate management. With Odoo, you can effortlessly trace the product’s movements when shipping to the consumers. Every product is given different serial numbers and lot numbers so that the traceability of the products becomes easier. Odoo platform allows users to track multiple locations with the help of serial and lot numbers. It also sends a warning to the user to stop them from using the same serial number on various products.
Monitoring Multiple Warehouses
Odoo is a suite of business applications that enables you to manage multiple warehouses located at different locations. Odoo inventory is the perfect fit for multinational companies that owns a lot of warehouses across the world. They can effectively manage all of them, including the product’s activities sitting in the office.
Creating Routes to Trace Product’s Movement
Odoo inventory module provides support to create routes that help keep an eye on each product’s movements during the process of purchase, sales, and manufacturing. Most importantly, you are allowed to customized routes based on the strategies pre-planned by the key advisers of your company. Odoo shares the product’s movement with you via routes. The default rules in Odoo decide the routes of operation that can be configured according to the needs of your business operation.
Managing Number of Shipments
The biggest advantage of the Odoo inventory management system is that it can do a number of deliveries and buy various products from multiple vendors in a day. Since the Odoo inventory module is entirely error-free, there is no chance of human errors when performing purchase and sales shipments.
The report is sent to the customers regarding the product’s quantity in the inventory. The same you can find in the point-of-sale window of the retail store.
Generate Real-Time Reports
Real-time reports provide you with an insight into your entire supply chain operations helping you make a collaborative decision. in addition, this report can be shared with other departments that improve decision making.
Set The Reordering Rules
With the Odoo platform, you can easily set the reordering rules on the products available in the inventory. This ensures that your product’s stock won’t run out and can prevent overstocking issues. In the case of low stock, you are informed with a warning message that helps you maintain the stock level. Besides, there is an automated procurement system that allows you to procure bills on time.
The advanced modules of Odoo make it stand out from other ERP software. The inventory tool in Odoo manages the inventory and warehouse tasks with great efficiency.
If you are in search of getting the best Odoo services, email us at [email protected]. We take care of all your inventory and repair your warehouse management.