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.
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.
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 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.
Ximple ERP offers Customer Technologies for Growth.
Do business anytime and anywhere to improve sales and reduce cost.
You pick a solution that suits your business as Ximple Cloud ERP will integrate other systems with ease.
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.
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.
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:
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.
The four types include:
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.
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.
When carrying out a comprehensive ERP assessment, what process should you include? Consider the following ERP assessment checklist when making your decisions.
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.