Gain Inventory Visibility With ERP
By: Katie Foley
Inventory management is a problem that many growing manufacturing businesses struggle with. Weak inventory management is one of the driving factors behind manufacturers seeking out a new ERP system. Today, we will look at why effective inventory management is crucial to manufacturing success and how a new ERP system can help achieve your inventory management goals.
Having visibility into your inventory is critical in the manufacturing industry and ultimately your bottom line. Here are some of the goals of inventory management you should keep in mind as you decide whether it’s time for an ERP solution to help you meet those goals:
- Have the stock you need on hand when you need it so that buyers don’t start looking elsewhere. This has become increasingly more difficult to maintain as COVID-19 has disrupted many supply chains.
- If your manufacturing business has more than one warehouse, you should be able to locate exactly where the inventory you need is located in seconds.
- Inventory data should be accessible in real-time whether you are on the shop floor or in the sales office. Just as shop floor workers need to access inventory data as they work on a project, sales and customer services employees need to access inventory data to accurately quote and estimate shipping times.
- Inventory should be purchased at the optimal time. What does this mean? Buy in bulk and save when it makes sense. However, be sure not to purchase so much inventory that the goods will expire before it gets used.
Inventory management is no easy feat! This is where a modern, agile ERP solution comes into play. How can ERP help your manufacturing business gain visibility into its inventory management problems?
- An ERP system allows for real-time access to inventory across departments – so whether you are a warehouse employee or a sales associate you will have access to the same inventory data.
- With the help of the MRP module, you can automate inventory decisions based on current inventory levels and production capacity.
- A Warehouse Management System (WMS) can capture the movement of inventory around the warehouse and shop floor in real-time. Barcode scanning reduces human errors on the shop floor as well and improves shop floor employee satisfaction.
If your business has never invested in ERP or has outgrown its current ERP system, it’s time to find something that can solve your inventory management needs for these reasons and many more not listed here. An efficient inventory management solution will result in higher employee satisfaction, improved customer service, and a better number on your bottom line.
Take your inventory management to the next level with Visibility ERP. Click here to set up a free product demo today.
