To further streamline warehouse operations, inventory software has the ability to itemize all products to be picked and print concurrent picking slips. The ability to perform cycle inventory counts is another feature which allows users to pull up-to-date information on specific sub-sets of products in a defined location on a specific day. Being able to link a particular group of products to the receipt or original purchase order is another important capability. Information on products in stock, on backorder, location in warehouse, products ready to be picked as well as descriptions, categories, pricing and images are all readily available. Proper software will conveniently allow access to inventory information utilizing user-friendly search capabilities. Once a product is scanned at the warehouse, the quantity received gets recorded in the back-end accounting system for comparison against a given purchase order, thus ensuring accuracy and identifying any discrepancies immediately. This will record what items were received followed by what bin and shelf number the product was allocated to.
#Invoice and inventory verification
Inventory management software allows users to scan products at the receiving dock using verification scanners to immediately identify and record the product on arrival. By implementing an inventory management system into your business you are adding a new dimension: the ability to track inventory throughout the entire distribution chain, from receipt to invoice.
#Invoice and inventory manual
However, as those businesses begin to grow and expand their offerings, the redundancies and manual processes involved start to become too cumbersome to manage efficiently.įor many growing businesses, the next logical step is implementing an ERP system that encompasses the appropriate inventory management tools to support that growth. Traditional methods for managing inventory, such as pen/paper or spreadsheets, can still be viable options for smaller start-up businesses, or businesses who hold very small amounts of inventory. Successful business owners understand that inventory represents their livelihood and its importance should never be underestimated or undervalued. Although this may seem rather obvious, the number of businesses who remain tied to outdated means for inventory management suggest that it's a more foreign notion than one would imagine. The way in which a wholesale/distribution business manages its inventory has a direct and critical impact on its overall success and long term viability.