chapter 3 continuation
"THE ADVANTAGES OF ERP
INVENTORY MANAGEMENT
SOFTWARE"
E-Commerce & Internet Marketing
LIBERATO, JOANNE RUTH P.
ERP OR ENTERPRISE
RESOURCE PLANNING
INVENTORY
MANAGEMENT
SOFTWARE
An ERP system that’s optimized for inventory
management automates necessary functions so
that stock purchasing, organizing and transferring
are in sync. The software also helps maintain
optimal levels of stock by integrating the inventory
needs of staff, customers and suppliers.
Currently, there are Best ERP System Philippines providers like SAP, Sage and
Netsuite. Both are locally available in the Philippines and can cater to local
requirements. For Accounting Software locally made for Filipino companies
and open for integration to other applications, QNE Software Philippines, Inc.
ERP OR ENTERPRISE RESOURCE
PLANNING
ADVANTAGES OF ERP INVENTORY MANAGEMENT SOFTWARE
1. COST SAVING – Inventory Management software or system helps
company to cut expenses by minimizing the amount of
unnecessary parts and product in storage and help the companies
keep lost of sales to minimum by having enough stock on hand to
meet the demand.
2. INCREASED EFFICIENCY – Automation of many inventory
released task. Automatically collect data, conduct calculation and
creates record.
3. WAREHOUSE ORGANIZATION – Helps distributors, wholesaler,
manufacturer and retailer optimize their warehouses (process of picking)
with less effort, increased inventory visibility and more accurate
fulfillment, fewer out of stock situation and fewer lost of sale.
(ACCURACY)
4. UPDATED DATA – Up-to-date or real time data on inventory. Any
company executive can access software through mobile devices, laptop, PC
to check the current inventory number
5. DATA SECURITY – WITH THE AID OF RESTRICTED USER
RIGHTS. Company manager allows employee to assist in inventory
system(receive products, make order, transfer product) it can save
managers time.
6. INSIGHT INTO TRENDS – Tracking where the products are stocked,
which suppliers they come from, and the length of time they are stored is
made possible with inventory management software. (analyzing data,
control inventory, maximize use of warehouse space) especially during
special circumstances such as peak season)
ERP OR ENTERPRISE RESOURCE
PLANNING
DISADVANTAGES TO USING INVENTORY MANAGEMENT SOFTWARE
• EXPENSE – many large company use inventory management system or software but
for small business they find it difficult to afford. Barcode reader and other hardware can
compound this problem by adding even more cost to companies
• COMPLEXITY – not easy to learn nor necessary simple. Dedication, training.
CLOUD INVENTORY MANAGEMENT SYSTEM
Cloud-based inventory management is the monitoring and maintenance of a business's
inventory levels using online software. Cloud-based inventory management seamlessly keeps
track of inventory coming in and going out of your business.
BENEFITS OF CLOUD INVENTORY
MANAGEMENT SYSTEM
1. REAL TIME TRACKING OF INVENTORY – for startups and SMB’s Its
very important. Not just for collecting and tracking data but also generate
reports. Cloud-based inventory from a wide-range of internet devices
including : smartphones, laptops, tablets and traditional PC’s(inside and
outside of the business premises)
2. CUT DOWN WAREHOUSE EXPENSES – SMB or Small and Medium
Businesses and startups don’t have to purchase expensive hardware and can
direct capital and profit to expand and reach wide range audience. Cloudbased eliminate the needs to hire a large IT Hardware.
3. FAST DEPLOYMENT – Deploying web based inventory software is quite
easy. Signing up for monthly and yearly subscription and start using
inventory management software via the internet with less amount of
money
4. EASY INTEGRATION– Cloud inventory management software
allows business owner to integrate with their existing system at
ease. Example is Amazon, eBay,Shopify. INTEGRATION OF ECOMMERCE STORE OR CLOUD-BASED ACCOUNTING
SOFTWARE. Allowing one to view and control stock across all
channels
5. ENHANCED EFFICIENCY – increase efficiency in a number of
ways (real time inventory monitoring, a single change can
replicate itself company-wide instantaneously, as a result
business can have a great confidence in the accuracy of the
information in the system, easily tracking of flows in supplies
and product and generate reports. Offer greater accessibility)
THANK YOU!!