How SAP Business One Inventory Management Software can help you manage stock?
Globally, inventory management remains an uphill task for the wholesalers. Even if you have a large warehouse with necessary arrangements to keep items, it is possible that you may not manage the stock of every item properly. It gives rise to unwanted conditions like a temporary shortage or excessive stock. Here, SAP Business One’s inventory management system lends a helping hand to many wholesale distributors across the world.
It is easy for wholesale distributors to transform their warehouses into highly profitable assets with the help of SAP Business One software. The inventory management software tool can enable them to streamline warehouse processes and overcome common inventory management-related challenges. Also, this tool provides necessary applications that facilitate best practices for stock management. These are the major reasons why SAP Business One software solution has gained ground among wholesale distributors.
SAP Business One- Introduction of a fully integrated ERP system
SAP Business One is an ERP system designed for SMBs (Small and Mid-size Businesses) across various industrial sectors like retail, manufacturing, and wholesale distribution. With features like freight industry integration, stock management, and tracking at every stage, SAP Business One remains an excellent solution for wholesale distributors. SAP Business One also offers real-time Big Data analytics and business intelligence functionality to enable you to make informed decisions.
What makes SAP Business One a market leader in its ability to manage business processes on-premises and on the move using mobile devices. It offers more convenience to the users and you can readily drive business growth by using its advanced features. All you need to consult a trusted SAP Partner with vast experience.
Common Challenges of Inventory Management
Wholesale distributors have to deal with many inventory-related challenges daily. These challenges often force them to put extra efforts and spend more time than necessary. It directly impacts workflow and profitability. Here are some of the prevalent challenges.
- No whereabouts of some items
- Location mismatch for some items
- Excess stock
- Out-of-stock situation
- Poor warehouse management
- Inaccurate tracking of items
Thanks to advancing technology, you can overcome these stock management challenges with ease by using an efficient inventory management system like SAP Business One. Let’s check how this ERP tool can help you in inventory management.
How SAP Business One Helps to Overcome Challenges
SAP Business One can improve inventory management by promoting best practices in every aspect. It enables your employees to get access to inventory information by integrating real-time data in an easy-to-use dashboard. It facilitates your inventory and account departments to monitor the stock and allocate a budget for purchasing goods as per requirements. Sales and customer service representatives can also get the real-time update of item availability that results in big sales.
The biggest advantage of SAP Business One is it offers information management in every aspect of your business. For example, SAP inventory management application gives the exact situation of stock. You can also get the information regarding the location of each and every item in the warehouse. Automated sales tracking enables you to track the movement of products and identify the fast-moving items. You can also get information related to products that are not moving rapidly.
Such information helps your teams to manage and optimise warehousing. It is easy to liquidate the least valuable goods to get more storage space with the help of an inventory management application. You can also get rid of overstock and out-of-stock conditions by optimising your warehouse. Proper inventory management assists you to speed up fulfillment and improve deliveries of goods that ultimately save you time while keeping your customers happy.
The SAP Business One inventory management tool also determines the optimum stock levels and sends alerts when any specific product reaches this level. You can also get an idea of how many units you need to purchase for a specific product. It means you always have complete control over inventory, and you never disappoint your customers with stock-out situations.
Key Warehouse Optimisation and Inventory Management Tools in SAP Business One
- Material Requirements Planning (MRP)
- Barcode Scanning System
This feature enables you to plan to purchase necessary material or products on-time.
It offers simplified tracking and control of the stock. These features work fine irrespective of diversity and largeness of inventory. It is fair to mention that SAP Business One can assist you to follow the best practices in inventory management to make your customers happy and increase sales figures.
Silver Touch Technologies is a reputed and certified SAP Business One Partner with having over ten years of experience in SAP implementation. We have a team of 100+ SAP Business One consultants to help you make the most of this robust and reliable ERP tool. If you wish to give your business an edge using technological advancements and SAP Business One software, then send us an email at email@example.com
An experienced business leader, heads the UK operations of Silver Touch Technologies Ltd. With 15 years of experience in the industry, he has set the track record of delivering transformation and revenue growth with SAP Solutions.