Inventory management system, or inventory management software is an open source based software system used for tracking the inventory levels, sales, orders, and deliveries. In the manufacturing industry it can be used to create a bill of materials, work-order as well as other documents relating to production.
Web based inventory management system
Web based stock management is the controlling and coordinating system of business. Inventory’s using a software which can be accessed online. Online inventory management seamlessly keep track of the incoming and outgoing inventory in your small business.
Why use asset management software?
Business’ use inventory management systems (wms) from odoo in order to avoid overstock and outages of their products. It is a software tool which helps in organizing inventory data which earlier was generally stored manual entry or hard copy form, or the spreadsheets. It is associated with distribution software, distributors with less budget can be tied up in inventories having advantage over their counter parts
Inventory Management Models
For implementing a specific model to an organization, it must be determined how much inventory has to be ordered
Classification of models,
- Basic Economic Order
- Production Order
- Probabilistic Models and safety stock
Advantages
- Cost Savings
- Efficiency Increases
- Updated data
- Insights to trends
- Centralized system
- Access from anywhere, anytime
- openerp inventory valuation
- openerp stock management
Warehouse Management Opensource software (wms)
With open source ERP warehouse management software,(wms) you can decrease your process time, the transactions can be automated, and also the stock levels can be reduced and can get a complete traceability on all operations with the openERP double entry inventory management system.
Double Entry Warehouse Management System (wms)
This method is based on the double entry system in accounting, this odoo inventory management tool is not about consumption, loss or product missing; the products are just transferred from one location to other.
Other Advantages of using odoo
- Email Integration & Automation
- Collaborative Agenda
- Lead Automation and Marketing Campaigns
- Sales cycle customization
- Reporting and Dashboards
Odoo has more than 2 million users globally, and Confianz is one among the top tech companies that provide customization, implementation and installations in Odoo
