Inventory Management Software

Inventory management software functionality is a critical component of ERP software solutions because the inventory control module interacts with virtually every other module or functional area. From the original quote and sales order entry through purchasing and receiving to shipping and ultimate invoicing, strong inventory management software functionality is necessary to provide high order fill-rates, contain operational costs, and maintain profit margins.

Inventory management software requirements vary by industry, although critical inventory control features will quickly differentiate stronger ERP software packages from their weaker counterparts. Discrete manufacturing environments generally require multi-level serial number tracking, attributed inventory, revision level tracking, and kitting capabilities for value added distributors. Process manufacturing environments will typically need lot control and lot property tracking, complete backward and forward traceability of lot numbers, expiration date management, and multiple units of measure per product ID or SKU. Mixed-mode manufacturing environments become even more difficult, since organizations will require a combination of both process and discrete inventory management software features. Regardless of the environment itself, it is important to document all inventory management software requirements and compare these needs against available ERP packages.

Panorama’s team has expertise in a variety of industries across manufacturing and distribution environments. Our ERP consultants provide a complete service offering that can assist your organization throughout the process of ERP selectionERP implementation, and organizational change management.

Recent Articles and News Related to Inventory Management Software