Features of Inventory Management System

Category: Education

Presentation Description

AgES Inventory Management controls stock moment effectively by systematic planning and procurement processes. It increases visibility in the stock across the functional areas and business locations. Manages the complete procure-to-pay process and supports a wide range of basic and complex activities.


Presentation Transcript


BY Agaraminfotech.com Inventory Management System


Topics: Introduction of Inventory Management System Features of Inventory Management System Order Management Asset Tracking Service Management Inventory Optimization Inventory management System


Introduction of Inventory Management System Inventory management is the art of managing the inventory in an organization . And a software which is a computer-based system is used to serve this purpose. This  inventory management software  helps the user in tracking inventory  Levels in the organization. This inventory management system or software is generally used by many companies and it helps in avoiding overstock and shortage of inventories .


Features of Inventory Management System Comprised of many components, the inventory management system makes handling the inventories an easy and simpler task. Owing to the inventory management services, the overall efficiency and   Productivity of the business improves. It is essential to use such kinds of inventory software for the business as they handle the regular tasks.


Order Management With the help of a proper and effective  inventory system, an adequate amount of inventory can be maintained at all times. The system raises an alarm in the case where the inventory drops down a specific threshold limit or exceeds over and above the prescribed limit. In both the conditions, due steps are taken and the needful is done.


Asset Tracking Tracking of the asset is yet another feature of asset management. In the case where there is a requirement of a specific product/ raw material and it is not easily traceable with the naked eye or is stored in the warehouse. T hen in that case measures are taken and the location of the same is identified using the software. The identification in such a case can be made through serial number, barcode etc.


Service Management In the case of companies which deal primarily into the service industry, this kind of management system helps in tracking the cost of the materials which are used for providing services. It includes the cost of cleaning , supplies etc. This in turn helps in attaching the cost to the total cost of the services.


Inventory Optimization An inventory management methods helps a great deal in optimizing the inventory . It helps in deciding the reorder point for a manufacturing Process. when should the fresh order for inventory be placed along with the Appropriate quantity of inventory.


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