Our cloud-based inventory management software helps growing businesses run at the speed of today’s market. The powerful features and born-in-the-cloud architecture empower companies to control system-wide inventory across geographically dispersed locations and drive inventory efficiency without losing sight of costs.
Define min and max order quantities, reorder points, seasonality, lead times, safety stock, and forecast models to calculate replenishment.
Setup and manage multiple warehouse locations with stocking locations defined by aisle, row, rack, slot, and bin. Define location defaults for receiving, returns, shipping, and drop-shipment transactions. Prioritize pick locations by item and by the warehouse.
Create and manage matrix items based on size, color, and other attributes and values. Matrix items streamline item management, purchasing, and sales processes. Use matrix views to update price and description for items in the matrix item product family. Setup sub item codes by SKU to differentiate between product variations such as grade, manufacturer, or other variables.
Create movement classes and ABC rank codes to determine physical inventory frequency.
Manage complex pricing and discount policies including volume discounts and multiple discounts per item. Maintain policies for price overrides, customer pricing, and commissions.
Define unlimited vendors by item with a preferred default vendor. Set a minimum frequency for deliveries and minimum or maximum order quantities by item for each vendor. Define cross-references between internal, vendor, and customer items.
Manage non-stock items for product warranties, services, labor, or other items. Unlike stock items, non-stock item quantities are not tracked in the system. Non-stock items may be received and returned without the Inventory Management application.
Improve inventory management and warehouse operations by converting non-stock items to stocked items and vice-versa.
Stay on top of your business with role-based dashboards for Sales Managers, Purchasing Managers, Shipping Clerks, and Receiving Clerks. Dashboards provide real-time, configurable insights with actionable drilldowns for sales orders, quotes, activities, employee productivity, shipments and receipts, on-time shipping ratio, order fill rates, late orders, profitability, return rate, suggested purchase orders, and other key performance indicators.
Distribution side panels provide users with direct access to customer, item, and order details for sales orders, shipments, invoices, purchase orders, purchase order receipts, and more.
Manage warehouse and retail operations with real-time insights into inventory turnover. Use the inventory turnover ratio inquiry to spot obsolete or slow-moving stock, adjust stock levels for fast-moving items to avoid stock-outs and rush orders, optimize warehouse stock locations, improve replenishment strategies, and benchmark turnover against industry peers.
Honor contracts and fulfill orders as promised with real-time access to inventory levels across locations with stock reservations and tools to manage back orders, returns, credits, and exchanges.
Manage inventory effectively to avoid stock-outs with safety stock, min/max order quantities, and configurable demand forecast formulas for improved fill rates.
Inventory Management Software helps you avoid surprises with precise, real-time tracking for costs of goods sold and inventory carrying costs. Use lot and serial tracking for specific (actual) inventory costs or use average, standard, or first-in-first-out (FIFO) inventory valuation methods for improved accounting.
Reduce rush orders, identify low-cost vendors, minimize freight charges, and reduce write-offs for expired or obsolete inventory with robust inventory replenishment, expiration dates for stock rotation and picking, and ABC codes to identify fast and slow-moving stock.
Use replenishment and automation to increase inventory turns with safety stock, min/max order quantities, and warehouse transfers. Improve inventory accuracy with barcoding and physical inventory cycle counts.
Leverage matrix items to create product families based on item attribute variations, and easily manage lot and serial tracked items. Define custom units of measure and conversions on the fly.
Inventory management refers to how businesses manage their inventory, from the ordering and warehousing processes to the selling of their finished products. Businesses use differing inventory management methods, but the goal of each one is to efficiently manage their raw materials, labor, and costs; to maintain optimal levels of inventory; to know where their inventory is located; and to turn a profit.
Historically, inventory management has been managed through paper-based spreadsheets. Many smaller businesses still use them, but internal and external challenges (e.g., business growth, supply chain disruptions, labor shortages) have them turning to inventory management software as a way to automate and simplify their inventory management processes.
The benefits of utilizing inventory management software include (but are not limited to) the following:
There are various inventory management types. The most popular types are just-in-time (JIT) management; materials requirement planning (MRP); economic order quantity (EOQ); days of sales of inventory (DSI); work in progress (WIP); and first in first out (FIFO) and last in, first out (LIFO). The ability to choose between various inventory management types allows businesses to manage their inventory based on their unique needs.
For example, JIT is a form of lean manufacturing where businesses stock only the inventory they need rather than stocking for potential orders. MRP, on the other hand, is the process of forecasting demand based on historical data. While this likely ensures that businesses have inventory in stock at all times, they may overstock if the forecast is inaccurate.
Order management is the process of managing orders from when they’re received to when the orders are fulfilled. Like inventory management software, order management software can be utilized by businesses of all sizes. Unlike inventory management software, order management software is for businesses that carry inventory and for those that do not.
Order management software provides users with Sales Order, Purchase Order, and Requisition Management capabilities, automated requisitioning, integrated workflows, and more. A business can utilize order management software alone or in conjunction with inventory management software.
“Acumatica handles inventory so much better than our old system. This is a big-time saving for us to see live inventory availability across our three different locations and not have to resort to various spreadsheets or wander through our yards of products like we did before.” – Steve Slaughter, President/CEO, Frederick Block, Brick & Stone
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