Inventory control is a continuous
process of tracking and managing your inventory. To properly
manage your inventory you need complete knowledge of the products
in the inventory, their quantities and the lead times required
for each product. The objective of LuitBiz ERP’s inventory
control module is to maximize your profits while maintaining
customer service.
Item Control:
The item control feature
is the backbone of the ERP package of LuitBiz. This feature
helps you to add, edit and view the complete information about
your items / products that will be used all throughout the
ERP and CRM modules of LuitBiz. The centralized item control
feature helps in getting all the information about your company’s
items / products at a centralized location.
Pricing Management:
The pricing management feature
helps in arranging your pricelists based on different items
and item categories / types.
Inventory Adjustment & Adjustment
History:
LuitBiz ERP lets you adjust
the items in your inventory manually. You can adjust the quantities
of items that are in hand (QOH) and available to promise (ATP)
in your different warehouses from anywhere in the world over
the Internet.
Replenishment Warnings:
LuitBiz ERP lets you set
alerts for items that need replenishment. You can set the
replenishment rule in the item control module and when the
item requires replenishment, you will automatically receive
an alert. This improves the agility of your business and helps
you to have enough stock in your warehouses to meet your customer’s
requirements.
Multi-location Warehouse Management:
LuitBiz ERP enables you
to manage inventory in multiple locations. You can choose
a warehouse location that will receive or fulfill an order
once it is received. Detailed reports allow you to view information
about your total inventory on hand, or just the inventory
level at a specific warehouse. The detailed warehouse layout
management feature of LuitBiz ERP helps you locate the items
in your warehouse very easily.
UOM Management:
You can manage multiple
units of measure (UOM) for selling, buying, and costing each
item in your inventory. Additionally, the UOMs can be categorized
into different categories that help in streamlining multiple
units of measure.
Supplier Management:
LuitBiz ERP helps you manage
your supplier records and supply history. This provides information
that is crucial to your supplier relations, including purchase
orders, accounts payable data, and other crucial data.
Lot Management:
LuitBiz ERP maintains a
complete history for each lot number in the inventory management
module. Complete information about each lot in the inventory
is maintained throughout the entire product life cycle.
Product Expiration & Shelf Life:
You can assign an expiration
date to each item and enter its shelf life. This is especially
useful if you deal with seasonal products. You can even set
up a warning to let you know when an item is about to expire.
You will receive an alert in this regard.
Serialized Inventory:
The serialized inventory
component of LuitBiz ERP allows replenishment of stock to
be full proof and without error. Your company’s planning
and scheduling becomes much simpler because you know exactly
the number of specific items that are available and how many
more you will need to store in your warehouse.
Reorder Point Tracking:
The Reorder Point (ROP)
tracking feature of LuitBiz ERP helps you to plan when a replenishment
transaction should take place. This tool can be used as a
guideline for ordering replenishments for your warehouses.
Demand Based Inventory Replenishment:
LuitBiz ERP helps
you to control your inventory replenishment and ensures that
you have enough on hand to fill anticipated orders, yet carry
minimum excess stock. You can always modify the replenishment
calculations for individual items, to handle unusual circumstances
as and when you need.
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