Inventory Management

Achieve optimum levels of inventory with SYSPRO ERP

Using ERP to manage inventory

SYSPRO Inventory Management gives you immediate access to inventory balances, open purchase orders, work orders, and open sales orders at any point in the process – as well as the flexibility to cost inventory by warehouse, track inventory, and check on goods in transit.

Gain more control over your inventory with SYSPRO ERP providing greater accuracy and visibility to inventory information throughout your organization.

The scale of profitability of an organization is directly proportional to the way that it manages its supply chain

Most of today’s organizations are recognizing the key role that their supply chains play in their ability to garner a competitive advantage in the market.

In this eBook we provide more information on:

  • An overview of Manufacturing Supply Chain Management
  • Main areas of Supply Chain Management
  • SYSPRO solutions for SCM

SYSPRO ERP is designed in a modular fashion

Offering over 50 individual modules you can integrate seamlessly into your operations – giving you everything you need and nothing that you don’t.

Whether you’re expanding into new territories, adding new product lines or simply want to be more efficient and productive, we will empower you to take the next step by enabling you to connect both internally and with your suppliers and customers – and to easily adapt and scale as and when the need arises.

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Inventory Management software

Inventory is an expensive asset that needs to be carefully managed and controlled. Complex decisions have to be made about how much and which items a company should hold overall and at each stocking location. Additionally, the company needs to know when to replenish, how much and where. Businesses know they can improve profitability and working capital through better inventory management, but many are not sure where to start or where savings can be found. They face an ongoing balancing act as they try to carry enough inventory to respond quickly to customer demand, minimize transportation costs, and minimize investment in inventory to reduce warehousing and storage costs.

Why use Inventory Management software
  • As companies grow, the variety and quantities of inventory grows and need to be managed
  • In manufacturing companies, as much as 50% of capital is in inventory
  • The major cost component of many products has shifted to materials
  • The link between effective inventory management and cash flow is now
Using an ERP system will assist with a number of inventory management goals

The role of inventory management is to coordinate the actions and requirements of a business so that stocks are maintained at the right place, at the right time, and in the right quantities to satisfy the demands of customers or of a production process.

  • Achieve optimum levels of inventory at the correct locations
  • Address issues of inventory losses and obsolescence
  • Reduce the problem of excessive inventory
  • Prevent interruptions to production through stock shortages
  • Increase visibility of information about inventory
  • Prevent interruptions to production through stock shortages
  • Improve procurement and replenishment processes
  • Assist with regular, efficient stock takes
  • Provide additional attributes to handle stock better – lead time, supply/demand variability, velocity
Benefits of an Inventory Management System
The powerful tools in SYSPRO’s Inventory Management suite provide you with superior inventory control, traceability and recall management to be able to optimize stocking levels, free-up working capital, provide more effective customer servicing and benefit from improved profits:
SYSPRO’s Inventory Forecasting solution provides the tools to measure the quality of your sales forecasts and enables you to produce automatic or manual forecasts based on sales history. Additionally, you can easily identify those products that contribute the most to your business in terms of sales value, gross profit, cost of sales, quantity sold or hits.
SYSPRO’s Families and Groupings and Forecasting Solutions enable you to minimize forecast error and manage seasonality, improving order fulfillment performance.
SYSPRO’s Material Requirements Planning gives you clear visibility to the integrated effect of current and future supply and demand. This helps you to make better purchasing and production decisions and reduce excess and obsolete inventories.
Takes a holistic view of inventory levels and provides the methodology, tools and processes to ensure there is the right balancing of inventory within the supply chain to achieve desired customer service levels while minimizing total supply chain cost.
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SYSPRO provides Norman Goodfellows with full visibility leading to increased profitability

As a result of this implementation, Norman Good Fellows has complete visibility of their profit per customer, supplier and product. ‘Live’ stock views have improved customer service levels significantly due to decreased stock outages.

Supply Chain Portal

The Supply Chain Portal streamlines collaboration between buyers and suppliers by automating business processes and ensuring transparency of supplier and customer transactions. This minimizes document handling, reduces potential fraud, increases operational efficiency and improves governance.

Inventory Management

SYSPRO Inventory Management gives you more control over your inventory by providing greater accuracy and visibility to inventory information throughout the organization.

Lets work together to create positive change in your business

Get in touch to find out how SYSPRO can assist you and your business today