Improve customer service and profitability with real-time access to available inventory, inventory in transit, and inventory costs.
How Inventory Management can work for you
Control system-wide inventory to efficiently manage your distribution process without losing track of costs. Receive inventory to a specific location and drill down to change item default lot/serial numbers, valuation methods, accounts, and more.
Key Benefits of Inventory Management for your Company
Accurately manage costs
Accurately track costs of goods sold and inventory holding costs. Select a different valuation method for each inventory item. Create GL entries directly from inventory transactions.
Manage multiple warehouses with location-specific inventory quantities, allocations, and costs. Redistribute inventory from a central warehouse to other warehouses automatically upon receipt.
Multiple Valuation Methods
Use standard cost, moving average, FIFO, and item-specific methods. Select a different valuation method for each inventory item. Make direct adjustments to cost and physical inventory count using report and inquiry screens.
Inventory sub items
Assign sub-categories to track inventory characteristics such as size, color, and style. Associate quantity information with each sub item. View detail segment information and aggregated totals.
Important Features of Inventory Management
Track inventory by lot or serial number. Assign or enter lot/serial numbers on receive, issue, or assembly. Associate item specific valuation methods to serial numbers to track specific costs.
Expired items can be automatically removed from available inventory. Acumatica can automatically issue items with the earliest expiration date to minimize losses.
Measure trends and spot problems by assigning reason codes to inventory transactions. Reason codes can be linked to both GL accounts and inventory levels for financial and operational reporting.
Inventory transfers are done in two steps so you can track goods in transit between locations – with GL entries into and out of “in transit” account.
Specify the types of items and transactions allowed, picking priority, and cost by bin and location.
Lower your inventory with system-generated replenishment recommendations based on historical sales data analysis.
Simplify reporting and tracking by separating items into sub-categories such as size, color, and style. Associate separate cost and quality information with each sub-item.
Automatically generate purchase orders based on stock level and replenishment algorithms. Orders go to the vendor with the best price and delivery time.
Manage complex pricing and discount policies including volume discounts and multiple discounts per item. Maintain policies for price overrides.
Convert CRM opportunities to sales orders without re-entering pricing and discount information. Customer service can easily locate orders to verify shipping and delivery status.