Discover the secret to efficient stock management
Posted: Thu Dec 26, 2024 3:27 am
Stock management is the cornerstone of the balance between ensuring sufficient stock to respond quickly to your customers' needs and avoiding excess stored merchandise .
To achieve this, it is essential to adopt stock management software that allows efficient, real-time control of available merchandise , facilitating administrative processes and minimizing operational errors. The time it takes for a product to be available from the time it is ordered until it reaches the end consumer has an increasingly important impact on customer decision-making and loyalty.
If customers can’t find what they’re looking for in a timely manner, this hungary whatsapp number database mean lost sales. It’s therefore vital that companies have an agile supply chain and adequate stock to meet their customers’ demands . However, while having a deficient stock can compromise your sales, having a high stock level can impact your company’s liquidity and flexibility to react to market fluctuations. One of the challenges for companies is precisely this : finding the balance between always having enough stock to respond quickly to orders, but avoiding excess stock and the associated operating costs.
How to ensure efficient control of your stock
Gone are the days when stock management was done using Excel spreadsheets. In today's management models, regardless of the size of your company or business area, the secret to efficient control is to have stock management software .
Increasingly less complex, more intuitive and adapted to the business they are intended for, these stock management solutions are an effective option for both small, medium and large companies.
Process automation allows for strict control of the inputs and outputs of each product , management of warehouse locations , optimization of picking and packing and strict cost control.
Warehouse management solution
Nowadays, there are technological tools that allow for intelligent warehouse management . The ideal solution would be a warehouse management solution, or Warehouse Management System, integrated into the ERP, i.e., a central management system. In this case, the benefits will be greater, as it will be very simple to share information in real time between the various departments of your company, thus facilitating administrative tasks and financial control.
An integrated system between ERP and WMS provides cross-cutting supply chain management, with control over the entire process from supply management to delivery to the customer.
To do this, it is important to understand the advantages and benefits of each system, which together translate into the optimization of all these processes. By systematizing stock management, you ensure a more efficient response to customer demands, while also streamlining the work of warehouse operators and achieving much more rigorous logistical control .
What benefits can stock management software bring to your company?
Firstly, we must understand that the success of stock management is transversal to the ERP and respective WMS, with each of them having inherent added value.
In ERP:
1. Support in cost calculation: cost support tools help to accurately calculate the cost price of materials through cost calculation algorithms capable of calculating any scenarios that impact the cost of items, through a unique, flexible, solid calculation logic.
2. Automatic calculation of purchasing needs: through a stock management system, you can identify a minimum stock level from which the system alerts you to the need to purchase from suppliers, and can also consider orders in the backlog, manufacturing orders or other previously defined parameters. It also has tools to support the projection of purchasing needs that simplify the entire supply process. This allows for rigorous stock management, knowing in real time the quantity of products in stock and how many you need to buy to meet the orders in the backlog.
3. Recoding of items: when you want to recode an item and transfer your stock to the new code, a stock management system supports this process.
4. Management of commercial conditions and campaigns: support in negotiations with customers and suppliers through the possibility of establishing commercial contracts and promotional campaigns.
5. Stock reservations: you can make stock reservations for customer orders, manufacturing orders or other actions that consume stock. The items are reserved for these operations, and there is no risk of stock shortages whenever the items are reserved in advance.
In WMS:
Warehouse task execution planning: precise information on which supplier orders are to be received, customer orders to be dispatched and warehouse transfers to be dispatched/received. Carry out shipping-oriented picking waves, which can be defined based on delivery time criteria, customer priority or shipping routes.
Automatic generation of picking tasks: according to the orders in the portfolio, automatically create picking tasks to carry out the output of materials, without the need for administrative support. In this process, the tasks are automatically made available for execution by the operators. The execution of these tasks also results in the respective packing list for monitoring the shipment.
Control of material shipment: controlling the loading of the volumes to be shipped onto vehicles ensures that nothing is left behind and that deliveries are made without fail.
Control of everything you have in storage: precise information about the quantities you have in storage, where they are located and their characteristics, such as batches, status and serial numbers.
Expiration date management: allows you to control the minimum expiration dates that must be guaranteed for shipping to specific customers. This ensures that no customer receives goods with an expiration date shorter than the one intended.
To achieve this, it is essential to adopt stock management software that allows efficient, real-time control of available merchandise , facilitating administrative processes and minimizing operational errors. The time it takes for a product to be available from the time it is ordered until it reaches the end consumer has an increasingly important impact on customer decision-making and loyalty.
If customers can’t find what they’re looking for in a timely manner, this hungary whatsapp number database mean lost sales. It’s therefore vital that companies have an agile supply chain and adequate stock to meet their customers’ demands . However, while having a deficient stock can compromise your sales, having a high stock level can impact your company’s liquidity and flexibility to react to market fluctuations. One of the challenges for companies is precisely this : finding the balance between always having enough stock to respond quickly to orders, but avoiding excess stock and the associated operating costs.
How to ensure efficient control of your stock
Gone are the days when stock management was done using Excel spreadsheets. In today's management models, regardless of the size of your company or business area, the secret to efficient control is to have stock management software .
Increasingly less complex, more intuitive and adapted to the business they are intended for, these stock management solutions are an effective option for both small, medium and large companies.
Process automation allows for strict control of the inputs and outputs of each product , management of warehouse locations , optimization of picking and packing and strict cost control.
Warehouse management solution
Nowadays, there are technological tools that allow for intelligent warehouse management . The ideal solution would be a warehouse management solution, or Warehouse Management System, integrated into the ERP, i.e., a central management system. In this case, the benefits will be greater, as it will be very simple to share information in real time between the various departments of your company, thus facilitating administrative tasks and financial control.
An integrated system between ERP and WMS provides cross-cutting supply chain management, with control over the entire process from supply management to delivery to the customer.
To do this, it is important to understand the advantages and benefits of each system, which together translate into the optimization of all these processes. By systematizing stock management, you ensure a more efficient response to customer demands, while also streamlining the work of warehouse operators and achieving much more rigorous logistical control .
What benefits can stock management software bring to your company?
Firstly, we must understand that the success of stock management is transversal to the ERP and respective WMS, with each of them having inherent added value.
In ERP:
1. Support in cost calculation: cost support tools help to accurately calculate the cost price of materials through cost calculation algorithms capable of calculating any scenarios that impact the cost of items, through a unique, flexible, solid calculation logic.
2. Automatic calculation of purchasing needs: through a stock management system, you can identify a minimum stock level from which the system alerts you to the need to purchase from suppliers, and can also consider orders in the backlog, manufacturing orders or other previously defined parameters. It also has tools to support the projection of purchasing needs that simplify the entire supply process. This allows for rigorous stock management, knowing in real time the quantity of products in stock and how many you need to buy to meet the orders in the backlog.
3. Recoding of items: when you want to recode an item and transfer your stock to the new code, a stock management system supports this process.
4. Management of commercial conditions and campaigns: support in negotiations with customers and suppliers through the possibility of establishing commercial contracts and promotional campaigns.
5. Stock reservations: you can make stock reservations for customer orders, manufacturing orders or other actions that consume stock. The items are reserved for these operations, and there is no risk of stock shortages whenever the items are reserved in advance.
In WMS:
Warehouse task execution planning: precise information on which supplier orders are to be received, customer orders to be dispatched and warehouse transfers to be dispatched/received. Carry out shipping-oriented picking waves, which can be defined based on delivery time criteria, customer priority or shipping routes.
Automatic generation of picking tasks: according to the orders in the portfolio, automatically create picking tasks to carry out the output of materials, without the need for administrative support. In this process, the tasks are automatically made available for execution by the operators. The execution of these tasks also results in the respective packing list for monitoring the shipment.
Control of material shipment: controlling the loading of the volumes to be shipped onto vehicles ensures that nothing is left behind and that deliveries are made without fail.
Control of everything you have in storage: precise information about the quantities you have in storage, where they are located and their characteristics, such as batches, status and serial numbers.
Expiration date management: allows you to control the minimum expiration dates that must be guaranteed for shipping to specific customers. This ensures that no customer receives goods with an expiration date shorter than the one intended.