The management of inventories is a crucial issue in company because inventories in most companies and particularly production companies represent a very important part of the assets. Distributors and retailers regularly faced specific problems with their inventories:
- Inventory losses due to expiry
- Non-control of existing inventory
- Inventory shortages
- Over storage
- Supply management
The Mobility Cloud, a trade management software helps inventory managers to have real-time visibility on their inventory and to anticipate on inventory losses, fixed assets attached to the trade company's assets. The solution to the main pains of inventory managers is contained in a panel of 6 features offered by the inventory feature of Mobility Cloud.
Management of inventory receipts
The "Receiving" feature on Mobility Cloud helps you to receive items delivered by the company's suppliers with or without an order requested. It also makes it possible to record the company's inventories from its other usual sites and branches (factory, factory, warehouse, warehouse, distribution point, etc.).
This feature is synchronized with the Purchasing feature, a Mobility Cloud tool for purchasing management. Here the purchases of materials and goods and others (consumables, materials) ordered are received in a site and at a location already defined in advance by the company's system.
The operations on inventory receipts are as follows :
- Initiate a new inventory receipt (if the receipt is without order)
- Change receipt of open inventories (if two-step transfer active)
- Confirm receipt of inventory
- Cancel or delete a inventory transfer
- Integration of batch numbers, expiry dates and alert dates on batch-managed inventories.
Management of inventory transferson Mobility Cloud
Transferring inventory is a frequent and complicate operation, especially when the volume of inventories is very significant. Inventory transfers on Mobility are of two types: inter-site and intra-site transfers. This involves tracking any inventory handling within the company:
- From one point to another on the different sites of the company (inter-sites)
- form one point to another on the various site of the company (intra-site) example: Store- to display, or counter A - to counter B
Transactions on transfers are limited to:
- Initiate a new inventory transfer
- Change current inventory transfer
- Validated inventory transfer
- Cancel or delete an inventory transfer on the current status
Shipping of the inventory
After shipment of goods by the computer system the items naturally leave the warehouse to be shipped to the customer according to the details on the sales invoice. Shipping can be done on Mobility cloud with or without order, partially or not we can ship the goods to the customer.
A shipment can be edited and/or validated by the computerized loan system or by far. With this cloud software, you can send shipments remotely, while travelling, in a queue at the bank or on holiday at any point of sale to which the system gives you access rights.
The operations available on the shipments are among others:
- Validation of shipments without possible modification if the invoice comes from the Sales feature
- Editing new shipments
- Modify, cancel if invoice is not attached to shipment
- Printing of Delivery order
Management of special movements on inventory
Sometimes a part of the inventory is distributed to the company's staff, customers and partners. They may also be damaged by climate change or bad weather, considered defective, or discovered in warehouses because they are forgotten during handling. In these cases, or in other cases where inventory movements are required, the Mobility Cloud solution can manage inventories owing to its special movements functionality. Which are:
- Inventory creation: which helps you to create inventories in the system in case an unexpected inventory has been received, or if you have forgotten to record a delivery
- Inventory consumption: which allows inventories to be removed when a company uses its products for any of the above reasons.
Reporting on Mobility Cloud
The automatic production of reports offered on Mobility Cloud helps a trade company to have visibility and traceability of inventories in real time through four (04) keysfunctionalities:
- The dashboard gives indicators of money in and out, current transfers, top 5 articles and categories
- The standard report of global inventories and by storagesite, quantity availableand monetary value visible for article, category of articles and storage sites,
- Inventory history with the possibility to filter and print lists on all operations or on a particular type of operation: receipt, transfer, shipment, creation and consumption of inventories
- Le rapport de stocks par lots : Etats des lots de chaque article entré en stock
Inventory of inventory on Mobility Cloud
This computer system helps you to evaluate the actual level of all item inventories and update them. You can update your inventories at each period and reset them so that they can be handled
Advantages of the inventory feature
To deal with inventory shortages, overstocking and product expiration, Mobility Cloud software offers you a good traceability and clear inventory to take better decisions for supply.
- The centralized management of the company's inventories to reduce inventory losses is effective with Mobility ERP software
- Batch management of items for inventory expiry alerts integrated into the system significantly reduces inventory losses
- Visibility on inventory helps to avoid overstocking, which causes financial loss for several distributors
Configurations of the inventory feature
Depending on the configurations made by the inventory manager on the IT tool, the inventories can be processed on the basis of the choices already made at this level so that the inventory management system aligns with the internal management process. To this end, we have to make choices on:
- Receipt of inventories without order yes or no?
- Transfer of inventories in one or two stages (with or without validation of the transfer upon receipt)
- Authorize shipments only with orders or also allow shipments without orders
- Authorize partial shipments on customer order or not
- Define the reasons of the creation and consumption of inventories out ofnon-regular activity
- Define the permissible reasons for inventory differences
- Authorize or not negative inventories in the system
- And many other points that can be integrated into Mobility Cloud according to users' needs