Inventory Management is an important function which contributes to a healthy supply chain and impacts the financial health of the balance sheet. It takes responsibility for the processes of handling stock in the warehouse. Inventory module needs a careful and constant evaluation of internal and external factors as well as control through review and planning.
Inventory control includes searching requirements of inventory, monitor items, methods of replenishments, reconciling inventory balances, reporting inventory status, etc. If the inventory module gets integrated with purchase and finance, it allows ERP for generating high executive level reports. Every information of the organization is managed by an inventory module depending on costs, locals, and availability.
Inventory management consists of inward and dispatch activities and also takes care of entire stock related activities in the company. It is a way through which suppliers can keep records of the material of the company and handles multiple projects at the same time.
Visit Construction ERP Software for more Construction ERP Modules list.