Small to medium sized enterprises (SMEs) know that a highly organized warehouse (or warehouses) and an efficient inventory management system are vital components in ensuring business growth, financial stability and a satisfied customer base; they also know how wrong it can go if these elements are not properly defined and supported by an end-to-end inventory management system, such as the one included in SAP Business One.
Think about the below situations and how they might apply to your business:
1) You own three warehouses within a broad geographical region but seem to spend most of your time shipping products back and forth resulting in a waste of time and effort of your staff.
2) Your warehouse manager does not have the tools or systems available to provide you with a comprehensive stock report when required.
3) Customers are raising feedback that your product is always out of stock, even though they order the same amount at the same time each month.
4) You are approached by a big potential buyer but you worry about being able to promise delivery because you are unsure whether you have the product in stock.
5) You base your order process on guess work and intuition and hope that you have the right amount of stock.
6) When manufacturing a new product, there always seems to be a delay because several of the raw materials were not ordered on time.
These issues can easily be resolved with an SAP Business One software solution. Whether your company relies on incoming parts for manufacturing or whether you’re selling multiple items, inventory levels can severely impact the success of your business.
Here are just some of the key features you can apply to your inventory management processes with SAP Business One:
- Apply bar codes and serial numbers to your entire product range
- Add product descriptions (available in multiple languages)
- Group products according to your business requirements (version numbers, colors, styles etc)
- Access real-time, up-to-date stock levels wherever and whenever you need to (also available remotely via the SAP Business One mobile application)
- Adjust and check product prices easily and across all warehouses and systems
- Add preferred vendor information (including catalogue/serial/order numbers)
- Apply tracking methods between multiple warehouses (including consignment and drop-to-ship options)
- Perform an instant stock take and generate multi-format, customised reports (supported by Word, PDF, Excel etc)
- Material Resource Planning (MRP): enables accurate and timely forecasting and allows you to maintain an optimum level of inventory for complex product processes
- Full confidence on ‘available to promise’ status across all products Integrated accounting system to automatically synchronize financial transactions to inventory data
- Easy search system (via serial number, history, product details etc)
- SAP software evaluates each movement of goods as well as cost and price change to eliminate a manual process
- SAP software provides quantity details which reflect what has already been committed to other customers as well as incoming purchases and production orders
- Easy tracking of returned goods
- With SAP Business One it will almost feel like your warehouse runs itself; while allowing you to obtain real-time, accurate data as and when you need it.