Improve customer service and profitability with real-time access to available inventory, inventory in transit, and inventory costs with an inventory management software from Acumatica.
How Inventory Management Software can work for you
Inventory tracking software can help 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.
What’s in your warehouse? Acumatica gives you a real-time view of your inventory and allows you to segment inventory by class, define flexible valuation methods, identify out-of-date inventory, know your current inventory availability across multiple warehouses, set replenishment reorder points, and associate purchase orders with preferred vendors for each item. Watch this video to learn how to manage inventory more effectively with Acumatica’s Distribution Suite.
Key Benefits of Inventory Management Software for Your Company
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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. Automatically or manually allocate freight costs on sales orders, shipments and invoices.
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Multiple warehouses
Manage multiple warehouses with location-specific inventory quantities, allocations, and costs. Redistribute inventory from a central warehouse to other warehouses automatically upon receipt.
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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.
Power supply component manufacturer adopts Acumatica, gains accounting functionality In multiple currencies
Important Features of Inventory Management
Lot and serial numbering
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.
Expiration dates
Expired items can be automatically removed from available inventory. Acumatica can automatically issue items with the earliest expiration date to minimize losses.
Transaction reason codes
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.
Two-step transfers
Inventory transfers are done in two steps so you can track goods in transit between locations – with GL entries into and out of an “in transit” account.
Inventory bin/location control
Specify the types of items and transactions allowed, picking priority, and cost by bin and location.
Inventory replenishment suggestions
Lower your inventory with system-generated replenishment recommendations based on historical sales data analysis.
Inventory sub-items
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.
Purchase order automation
Automatically generate purchase orders based on stock level and replenishment algorithms. Orders go to the vendor with the best price and delivery time.
Sales order discounts and promotions
Manage complex pricing and discount policies including volume discounts and multiple discounts per item. Maintain policies for price overrides.
CRM integration
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.
Item Class Hierarchy
Create item classes using a tree-like hierarchy with parent-child relationships and define the default class for stock and non-stock items. Watch video here
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