Inventory Management Made Easy
- Date: 2007-06-09 - Word Count: 377
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Depending on the organizational structure of a business, inventory management can be a complicated endeavor. Many businesses require updated inventory figures to be available to not only sales and ordering personnel, but accounting, management and logistics departments as well. When inventory can't be reconciled companywide, it makes keeping accurate accounts of sales figures, stock levels and availability extremely difficult.
Thankfully, there are several software applications on the market that make keeping track of inventory easy, though not all inventory management solutions are created equally. More recent offerings are designed to allow real time automated adjustment of stock levels to reach multiple departments, providing up to the minute information everywhere it's needed.
Accounting personnel require company-wide inventory statistics so that the type of accounting systems they utilize can be reconciled, be it first in/first out (FIFO) or last in/first out (LIFO). Contrary to what many outside of the accounting profession assume, inventory reconciliation is more then just an end of year process and should be managed day to day for proper accuracy and accountability. Software solutions such as SAP Business One or Sage MAS 90 and 200 help accounting personnel manage inventory reconciliation through the input of other departments or preferably, through an automated system that adjusts data as changes occur.
For sales personnel, being aware of inventory levels is a crucial part of providing superior customer service, as orders should be based on existing stock levels. Without the ability to see stock quantities, providing accurate shipping information is next to impossible. Of course, not all businesses are of the nature that puts a premium on efficient distribution, but for those that are, inventory management software applications can help ensure that orders can be filled in a timely manner.
For management, purchasing decisions can be better made when information on stock levels is available and up to date. Inventory management software can automate reporting so that managers and administrators receive information monthly, bi-weekly, weekly, daily or in real time. For companies that rely on accurate information for purchasing decisions, the functionality of inventory management applications can be crucial for success.
If your business requires advanced inventory management capabilities, contact a software consultant in your area for more information on how the latest generation of software applications can help streamline your business operations.
Thankfully, there are several software applications on the market that make keeping track of inventory easy, though not all inventory management solutions are created equally. More recent offerings are designed to allow real time automated adjustment of stock levels to reach multiple departments, providing up to the minute information everywhere it's needed.
Accounting personnel require company-wide inventory statistics so that the type of accounting systems they utilize can be reconciled, be it first in/first out (FIFO) or last in/first out (LIFO). Contrary to what many outside of the accounting profession assume, inventory reconciliation is more then just an end of year process and should be managed day to day for proper accuracy and accountability. Software solutions such as SAP Business One or Sage MAS 90 and 200 help accounting personnel manage inventory reconciliation through the input of other departments or preferably, through an automated system that adjusts data as changes occur.
For sales personnel, being aware of inventory levels is a crucial part of providing superior customer service, as orders should be based on existing stock levels. Without the ability to see stock quantities, providing accurate shipping information is next to impossible. Of course, not all businesses are of the nature that puts a premium on efficient distribution, but for those that are, inventory management software applications can help ensure that orders can be filled in a timely manner.
For management, purchasing decisions can be better made when information on stock levels is available and up to date. Inventory management software can automate reporting so that managers and administrators receive information monthly, bi-weekly, weekly, daily or in real time. For companies that rely on accurate information for purchasing decisions, the functionality of inventory management applications can be crucial for success.
If your business requires advanced inventory management capabilities, contact a software consultant in your area for more information on how the latest generation of software applications can help streamline your business operations.
Related Tags: software, computer software, business software, esc software, job software
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