Best Inventory Management Software & Cloud ERP

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Automate & Manage your Inventory with Ease

Inventory Management Software: This module deals with the material handling and management process in the Organization and covers tasks like receipt and storage of raw material, issue of the raw materials to production, receipt and proper storage of finished products, and completion of finished products against sales orders. Inventory management also handles the physical inventory tracking process

It Includes a Product Catalog that maintains comprehensive information on all products that are sold by the company. The system keeps a complete history of transactions made on an item and keeps track of item quantity at each individual location within the warehouse. As items get moved around the warehouse the system updates the location quantity.

As goods get received into the warehouse, the system will immediately reflect the stock change and make the items available for sale.

What are the wholesale distributor’s challenges for inventory management?

Wholesale distribution businesses have demanding customers. They are facing an eCommerce challenge while manufacturing is pushing sales directly to the customer and trying to eliminate wholesale distributions. In this competitive environment, the wholesale distribution business has the following inventory management challenges.

Overstocking: This is also known as surplus inventory or excess Inventory. This Inventory is not moving quickly through the system, thus clogging up precious space and working capital.
Understocking or Stockout: This is a situation when fast-moving inventory that is in demand is not available to service sales orders or customer demand.
No track of Inventory: Organization has no idea of inventory availability. This delays servicing of sales orders and generates customer dissatisfaction.
Inability to find the Inventory’s exact location: This leads to a loss of time as the users search for Inventory to service orders.

Why Leading Wholesale Distributors are Selecting Ximple Inventory Management System integrated with Cloud ERP?

Ximple Inventory Management software meets the transaction needs, including internal transfer, local taxation, scrap, and obsolescence.
Inventory management software allows Multiple methods of quantity tracking, including Lot (Batch) tracking or Serial Number (Specific) tracking.
Support perpetual inventory management. Every inventory transaction cost is accounted for in real-time.
Integrated with Cloud ERP accounting and financial system i.e., General Ledger (GL), Account payable (AP), and Account receivable (AR).
Flexible Inventory reporting that meets the requirement of different levels in the wholesale distribution business.
Different Demand planning and forecasting systems: The primary material planning methods are MRP (Material Requirements Planning), Min-max planning, and Reorder Point Planning.
Inventory Workflows, alerts, and notifications: The Cloud ERP for Inventory Management supports approval workflows, for example, while transacting high-value item alerts for articles nearing shelf-life and reports slow-moving inventory occupying storage space.
Single source of truth: The Inventory Management system enables single item definition in part master, and the same product definition is used across ERP systems. It also allows in multiple warehouses or locations where a few parameters may differ. For example, the product may have average costing in one warehouse and standard costing in another. The ERP system should be flexible to handle such complexities.
Inventory Management Support different costing methods: Wholesale Distributors may require multiple costing methods due to three different scenarios. One may want other costing methods at different factories. Alternatively, they may wish for different costing methods for various items in the same factory (Average cost for purchasing and standard costing for finished goods, for example) or other costing methods for transactions and analysis.
A Cloud Inventory Management software meets wholesale distribution transactions requirements: Different wholesale Distributors have different types of inventory transactions. For example, with the advent of e-Commerce and B2C sales, Cross-docking will attain prominence. Cross-docking is when the material is directly moved to the dispatch truck from the manufacturing plant without intermediate storage. Other typical requirements are drop-shipment (Vendor ships the material now to your customer), Consignment sales (Customer stores your material and is billed based on the final sales), and Outside Processing Each of these transactions will have costing, valuation, and accounting implications. Inventory management Software ERP systems should be capable of handling these aspects.

Inventory Management ERP Software for Wholesale Distributors – Features

Inventory optimization
Inventory auditing
Inventory Control and forecasting
Stock notifications
Product categorization
Barcoding & Scanning
Actionable inventory analysis
Multi-location management
Return material to vendor
Material transfers
Record Advance Shipment Notice
Process Returns material from customers
Inventory adjustments
Support costing method
Shipping & Receiving
Manage Vendor Relationship

Benefits of Ximple ERP for Inventory Management Software

Inventory Management Software Integration of Inventory with Demand Planning Management ensures adequate material availability to meet the forecasted demand
Inventory Management Software Integration with Accounting and Cost Management provides real-time cost valuation. It helps track profitability and takes required corrective actions to improve margins.
Inventory Management Software offers Automated cycle count and physical count recommendations
An ERP for Inventory Management Software ensures a single source of truth for item information. Without this, different applications will maintain their view of an item leading to multiple versions of the same thing in the Organization.
Inventory Management Software offers visibility to obsolete Inventory and leads to accurate Inventory quantities and values.
Inventory Management Software Availability of multiple costing methods eases transaction processing and enables improved analysis.

Inventory Management Software - Ximple Solution — Inventory Management Software

Our Vision & Commitment Drive Innovations: Cloud Inventory Management Software & ERP for Inventory Management

As with any other business process, advanced technologies like Artificial Intelligence, Machine Learning, and Deep Learning will also impact inventory management software.

Wholesale Distributors are already experimenting with smart storage with AI algorithms identifying the best storage location to store the new lot and smart picking. The algorithm identifies the optimum pick route. AI will be further used for predictive analysis of obsolescence. Besides, technologies like QR Codes will become prevalent.

A smart supply chain software will further reduce storage costs. Customer orders will be registered online, and products manufactured or assembled at distribution centers. based on individual orders (customization), the production & distribution will be scheduled based on the dispatch truck availability through GPS and logistics application and the finished product will be loaded directly into the truck, thus bypassing storage altogether!

We are constantly innovating to make tomorrow’s technology accessible to wholesale distributors TODAY.

Why Leading Wholesale Distributors Select Our ERP to Optimize Inventory Management?

Meets Wholesale Distribution Industry Requirements
Better Demand Forecasting
APIs / Microservices integrations
Automation
Improved Efficiency
Eliminates Stockout
Improved inventory turns
Cost reduction and improvement in profitability
Support company-specific needs
Supports customers’ need
Improved financial reporting
Increased customer satisfaction
End to End Inventory tracking
Continuous improvement
Improved resource utilization
Accurate planning

Demand Planning, Maximize Inventory & Forecasting Accuracy

Inventory Demand Planning Software handles the recording of forecasted demand and processing of the forecast to plan for the availability of materials and distribution & warehousing capacity to deliver the finished product to meet the forecast demand. The module processes three planning types, including Materials Requirements Planning, Min-Max planning, and Reorder Point Planning.

Inventory Management Software

Seamlessly Manage Planning, Purchasing & Receiving Inventory

Inventory Purchasing Software also known as Inventory Procurement, handles the purchase of raw materials. The application takes the recording of a requisition, approval of the same, converting the requisition to a purchase order (PO) and sending the approved PO to the Vendor, and following up till the material is received at the distribution center.

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Deploy ERP on Cloud and On-Premise

Ximple ERP offers Customer Technologies for Growth.

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Mobile First ERP

Do business anytime and anywhere to improve sales and reduce cost.

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Easy ERP Integration

You pick a solution that suits your business as Ximple Cloud ERP will integrate other systems with ease.

Ximple ERP & Cloud Inventory Management Software for Distributors :

Ximple Offers SaaS-based Cloud ERP software to Leading Wholesale Distributors. Our inventory management software offers real-time inventory visibility, improved inventory management, eliminates stock-out, improves inventory turnovers, reduces obsolescence inventory, assures timely new product introductions, reduced manpower to manage inventory, inventory management software integrated with warehouse management system (WMS), POS & counter sales, Demand planning & forecasting, Accounting system for small and mid-size wholesale distributors, includes the ability to scale up to multi-billion $ wholesale distribution business.

Cloud WMS servers Inventory Management needs for Electrical Wholesale Distributors, Automotive Distributors, HVAC wholesalers, Plumbing distributors, Fasteners Distributors, Industrial Distributors, Hose and Fittings Distributors, Construction Distributors, Electronics Distributors, Pharmaceuticals, Chemical Distributors, Power Transmissions, Bearing Distributors, Cleaning Supply Distributors, Tobacco Distributors, Wine and Liquor Distributors, Novelty Distributors, Office Supply Distributors & Convenience Store Distributors.

FAQ

Does ERP include inventory management?

Inventory entails raw materials and components, repair and operating supplies, work in progress, and finished goods. Inventory management is about keeping track of your stock items by counting or listing them. As a current asset, inventory entails all stock units you use in each production phase.

Inventory management directly impacts the financial status of your business and its profitability. Inventory management is a vital component of a distribution ERP platform. Manual stock-taking is laborious and time-consuming. When a company adopts the best distribution ERP, it becomes sure that the tracking, counting, and analysis are accurate.

Which software is best for the ERP inventory?

One way to finish supply chain inefficiencies is to buy the best inventory management system. Although several standalone tools exist, choose an ERP solution with inventory management capabilities. As you select the right inventory management software, focus on its functionality and features. We can recommend looking at the following five software options:

NetSuite ERP – Its core abilities include inventory management, automatic calculations, increasing stock visibility, and multi-location planning.
Ximple Solution ERP – This is the best Wholesale distributor-specific ERP to manage your inventory, forecasting, and demand planning. ERP has all modules to run your wholesale distribution business. Ximple Solution ERP uses modern cloud technology to address today’s and tomorrow’s Inventory Management challenges.
Monday.com – Unlike the first two ERPs, Monday.com does not monitor stock during depletion and replenishment cycles. So your staff might still do some data entry work. Monday.com has advanced API tools allowing it to integrate with top project management tools, including Trello and Asana.
Katana – Manufacturers will appreciate an ERP software solution like Katana. It can track raw materials, do production planning, and inventory management. Hence, users can adjust their stock and automatically compute their running costs. Like our top ERP choices, Katana is a multi-channel inventory tracking and management tool.
ManagerPlus is an Enterprise Resource Planning software solution with up to five modules. One of these is inventory management. Using these features, ManagerPlus is an industry-specific tool that will primarily help those in the manufacturing sector.

What is ERP in warehousing?

Should you select a warehouse management system or an ERP solution? Both tools are slightly the same and broadly different. A warehouse management system (WMS) controls stock movement and storage. It uses barcode scanners, wireless LANs, RFID (radio frequency identification) technologies, and mobile-based computers to track the activity of inventory items.

As a standalone solution, WMS cannot handle other aspects of the supply chain. ERP has WMS capabilities as an integrated solution that automates processes and activities across all divisions. ERP is more reliable than WMS for long-term business management as an all-in-one solution.

What are the four types of inventory management?

The four types include:

Raw materials/components – These are what the manufacturer turns into a finished product.
Finished goods – These are goods ready for packaging and distribution to various markets.
Work in Progress – WIP entails assembling different parts to complete a product. Electronic products like mobile phones and cars require WIP.
MRO Goods – Maintenance, repair, and operating (MRO) supplies for completing a project are necessary. In a construction project, MRO supplies can be cleaning tools.

Read Also

Ximple ERP Software for distributors provides powerful business modeling tools allowing your company to use our proven template models or personalize the ERP to your unique requirements.

What are distributor’s challenges for inventory management?

Wholesale distribution businesses have demanding customers. They are facing an eCommerce challenge while manufacturing is pushing sales directly to the customer and trying to eliminate wholesale distributions.

ERP Assessment Approach and Checklist

When carrying out a comprehensive ERP assessment, what process should you include? Consider the following ERP assessment checklist when making your decisions.

Best ERP for small businesses

The best ERP business solution should meet all the needs of your business. Before choosing software, study all aspects of your enterprise and identify the gaps you can fill with ERP software.

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