Odoo Inventory Management

Odoo Inventory Management

In order to increase efficiencies in the business, Odoo inventory management simplifies the process of managing and monitoring the stock level. With the help of an ERP system, the inventory can be handled effectively. The ERP system allows your inventory to provide the most effective stocking methods and helps to boost all internal operations. Today, the ERP system has advanced features, such as double-entry inventory without stock input, complete product traceability, drop-shipping, cross-docking, multi-warehouse, etc. 

Inventory management becomes unsystematic without ERP help, losing all the real-time details required for the next step, and business faces many problems such as:

  • Item stock-outs, resulting in backorders, missed revenue, and consumers who are disappointed. 

  • Product surplus, which leads to a rise in inventory levels, rises in carrying costs due to increased usage of storage space and maintenance of goods. 

  • No traceability of products in inventory, since the primitive methods of business do not keep up with handling the increasing demand and pace of business.

  • Inability to ascertain the exact position of the product, resulting in the consumption of a considerable amount of time in searching for the material and delay in deliveries.

In this blog post, we will explore the benefits and advantages of using the Odoo inventory management system. To ensure productivity and effectiveness in your business, every company needs powerful warehouse management and inventory management control. Stock management needs to be developed with the best tools available in the market for inventory management. The stock register and report management of the operation and projects carried out in the warehouse assist the organization in carrying out audits of other functions of report generation.

Inventory changes at the warehouse should be duly recorded by the managers and submitted to the superiors for inventory reports to be reviewed and processed. Inventory management software has grown in techniques and the operation also has the methodologies to run and operate them over the years.

Weak inventory management issues within organizations have contributed to an increase in the request of ERP software applications that can help you quickly handle all your inventory and warehouse operations. Enterprise systems and solutions are incorporated with modified data and processing processes that can be checked and controlled by different organization officials. This made it possible to develop different ERPs with external servers in order to store information, and also to develop ERPs with internal servers.

One of the leading Enterprise Resource Planning tools is the Odoo ERP program, which not only helps the organization to handle warehouse operations but also handles and executes all the company's business operations. With odoo ERP software, you can handle the sales staff, purchase department, human resource management, services, manufacturing, and many more. With Community Edition and Enterprise Edition, Odoo ERP offers different features for inventory management in your business.

The newest release of the Odoo ERP enables real-time of all operations for inventory adjustment and provide a clear record of the functions performed at all levels of your business. For the different operations carried out in the warehouse, the software often enables end-users to set the direction of product movement. Odoo offers you full inventory and warehouse management solutions for your company in every business from manufacturing to trading or into the retail business. Let us check the benefits and advantages of using the Odoo inventory management system in your business.

Odoo Inventory Management Benefits:

End Number Of Shipments

Odoo Enterprise and Resource Planning enable users to buy goods from several suppliers and take in any amount of shipments in a day. Through the availability of a separate inventory management module in Odoo, there is no limitation on the shipping quantity and items carried out on Odoo warehouse management, you can conduct error-free operations for both your procurement and sales shipments. With the initial verification of inventory availability before taking up the sales order, shipments and sales are processed effectively.

Tracking Inventory is easy

The Odoo inventory management platform enables the customer to monitor and depart product movements within the business while delivering them to the customer. You can provide good traceability of the products in your organization with specific serial numbers and numbers of different products in your company. The serial numbers and lot numbers are explicitly allocated to the goods when the suppliers at the warehouse receive the purchase order. The Odoo inventory management platform always checks that a single lot number and a single serial number are allocated to a single product and always restricts the user from allocating alert messages to different products with the same serial number.

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Multi Warehouse management
The Odoo inventory management platform enables the user to manage several warehouses at different locations for the same business. You can easily add various warehouse locations in Odoo if you have several warehouses and manage inventory transfers from one warehouse to the next one.
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The Odoo Inventory Management Platform helps you to build operational routings to transport the product for buying, selling, and manufacturing. The customer, who is customized based on the business processes and workflows available in the business, predefines these routings. The platform routes decide the flow of the commodity within the firm. The operating routes are specified by the default rules available on the platform that can be modified according to the operation of the enterprise. The push and pull rules can also be used to assign different routes available for executing the action.

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Reordering Rules

The Odoo framework allows users to set the rules for reordering items that are available. This helps the stock of the business to never run out on the goods and overstocking is not a concern. The Odoo platform will always ensure that information about the low stock is given with the assistance of warning messages. If the end-user prevails in cutting out the product from the business, the stocking rules can still be removed from the product menu. In the case of minimum stocking regulations, automated procurement can also be organized on the Odoo platform. In Odoo, the reordering rules enable the end-user to set the minimum and maximum stock count of the respective items that are involved in this rule.

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Advanced Reporting

The advanced reports feature available in the Odoo warehouse management platform enables the user to produce reports based on the different criteria and strategies available and you can therefore customize the reports according to your business needs. Depending on the date, company receipts, etc., the filtering criteria can be modified and the category by feature in the reporting menu lets users group warehouse operations based on dates, goods, dates, company, product variant, etc. The platform enables the user to create pie charts, bar graphs, and line graphs on different available reports.

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Conclusion: Odoo Inventory Management

At ERP Cloud, we deliver world-class business and Enterprise solutions to our customers. We have a presence in the USA, and Canada, Dubai (the United Arab Emirates), and Lebanon, and have successfully provided our customers' end-to-end solutions.

Some of our services include leading open source solutions such as eCommerce development, inventory and warehouse management, manufacturing for Odoo, accounting, and others. For information technology & software solutions, we offer innovation and consistency to our customers worldwide. 

You can contact our sales team at sales@erpxcloud.com for questions about Odoo ERP software or website growth. We ensure that you get free Odoo ERP software consulting.

50,000+ companies run Odoo to grow their businesses.

Join us and make your company a better place.

Odoo, Moe Fawaz February 4, 2021
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