Intellika Blog

Intellika experts discuss the key initiatives of business transformation and accelerating innovation.


ERP for Tracking Inventory.. Are You Worried.. Not Anymore..

Enterprise resource planning has been found to be essential to maintain your competitive edge in the market today. Enterprise management deals with information and data from all company activities that can help the company work effectively. A critical aspect of this is smart inventory management. A smart system to track inventory level orders, sales and deliveries, enables your company to function more smoothly and operate at healthy margins.

Benefits of Inventory Management Software

It is critical to have optimum levels of inventory so that your bottom lines remain strong without costly overheads associated with over-budgeting, excess orders, or unnecessary wastage. Tracking your inventory through specialized ERP software would be the best solution for effective functioning of your overall sales and distribution cycle. Some other benefits of Inventory Management Software include the below -

·         You can minimize expenses by getting rid of all unnecessary parts and products in storage.

·         Companies, distributors, and wholesalers can optimize their warehouses.

·         These enterprise learning management systems also make it easier to collect data, conduct calculations and create records.

How retailers can extract max out of ERP?

  • Brick or click stores need to know the level of goods available for them for timely replenishment. They also need to protect the business from losses by stocking too much and hence leading to perishing of the goods.  The problem is compounded in case of a multi store retail venture. Integrating PoS, CRM for sales, with ERP for small business can bring about the much needed clear visibility of actual sales and remaining stock in near real time.
  • By adding cloud ERP software to their scheme of operations, the main office or home office can figure out the actual sales without having to engage with individual stores and then reconcile and then figure out the inventory. An automated ERP system helps in eliminating unwanted steps and enhances the accuracy of the data, otherwise prone to errors under a manual system.
  • Granular level inventory tracking is made possible with help of a robust CRM for cloud based ERP system. You can categorize your inventory into meaningful smaller parts and track turnover by segments and not just organization level. If suppose your FMCG goods should turn over faster than say, books or videos, then ERP dashboards will show if this is actually happening or is there a deviation that needs appropriate course correction.
  • With improved inventory management using ERP software, you can bring about dual benefits of a delighted customer and better business margins. With better inventory management you can build a satisfying customer experience, which in turn assists in strengthening your bottom lines by a great deal.

Why Intellika?

Intellika specializes in building comprehensive Cloud ERP software that assists companies to manage their work in a flexible and effective manner. ERP on Cloud makes use of Cloud computing services that will help make your business more versatile and efficient with any time anywhere access to ERP data for quick decision making. If you are looking to enhance your business, opting for a customized ERP solution is definitely a positive step in this direction.

Team Intellika

Add comment