Enterprise Inventory Management: What Is It?

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If you are familiar with enterprise resource planning (ERP) software then you may already know how enterprise software solutions can help you manage your business better. Inventory management is just one piece of what a full ERP solution can offer you.

If you want to learn about enterprise inventory management then it’s important to first understand the basics of what ERP software is designed for and how exactly it operates.

ERP software solutions offer an integrated solution to how you manage your business. Many of them use Cloud computing in order to allow you to manage your business all from one platform, with the ability to access it anywhere and with any device – as long as you have an internet connection.

With the ability to access and manage vital parts of your business you can become more efficient, see more growth, and save on costs, all with intuitive and easy-to-you software.

Inventory Management Presents Some of the Biggest Challenges for Business Owners

Inventory management is essential for running most businesses, but unfortunately it is also full of many challenges that can be difficult to meet without the right software solution. There are always potential risks, particularly when it comes to manufacturing and transportation issues, sales forecasting, currency fluctuation, and the ability to anticipate how much stock you need.

If you’re looking for an ERP solution then consider investing into Sage Enterprise Management software. This all-encompassing enterprise management solution can help you run any aspect of your business, including accounting, customer service, human resources, and inventory management.

With Sage EM you’ll be able to:

Assess your inventory structure and replenishment procedures

  • Inspect workflows, warehouse layout, inventory setup, and replenishment policies.
  • Track all system items from one screen, allowing you to make informed and quick decisions.

Use smart tools to track your inventory

  • Gain insights into replenishment data, order-fulfillment performance, inventory turns, picking efficiencies, and optimized bin locations.

Assess your vendors’ quality and performance

  • With the available data, you can evaluate your suppliers based on performance, quality, and pricing.
  • Use powerful intelligence tools to effortlessly build complex queries across all your suppliers and identify trends, improving profitability.

Implement quality-checking procedures

  • Track items and perform timely quality checks.

Understand your margins better

  • Easily track the value of your inventory and all the cost associated.
  • Gain insights into your cost of sales to ensure that you are achieving your pre-established goals.

Understand your customers better

  • Use business intelligence tools with your accounts receivable and sales order data to profile your customers and learn their buying habits.

Better anticipate market changes in your pipeline and sales channel

  • Use advanced CRM capabilities to identify possible disruptions in your pipeline and sales channel so that you can make quick reactions that benefit your business.

This list just scratches the surface of what Sage EM can do to help you run your business more efficiently and smoothly. With Sage EM, you won’t ever have to worry about properly managing your inventory anymore – with its smart tools you’ll never be caught unprepared.