Manage Inventory Effectively | Essential Features of an Inventory Management Software

It is important to accurately record transaction details.

As long as records are kept properly, inventory management (materials management) can be easily handled with the help of inventory management software.

Many companies manage inventory using Excel or simple inventory management programs,
but they often face difficulties due to limitations in data sharing, challenges in real-time monitoring and processing, and data errors.
In some cases, when transaction details and inventory are managed separately, the workload actually doubles.
This may be manageable when tasks are simple and handled by one or two people, but as transaction volumes and business partners increase, limitations become apparent.

This is a key reason why many companies are now adopting an inventory management software.

Once you enter (record) the data, ECOUNT takes care of everything else.

When you enter a purchase (inbound), inventory is automatically increased; when you enter a sale (outbound), inventory is decreased.
When production is entered, the quantity of raw/sub materials is reduced according to the BOM (Bill of Materials), and the quantity of semi-finished/finished goods is increased.
All entered details are immediately reflected in all ledgers, allowing inventory to be managed automatically.

Not only inventory inflow and outflow management, but also subsequent tasks are handled seamlessly.
When a sale (outbound) is entered, sales performance and outstanding receivables by customer or sales representative are automatically aggregated.
In addition, the system automatically calculates and displays the appropriate purchase quantity, helping you maintain optimal inventory levels.
You can also calculate the current inventory value based on recorded purchase unit prices, and manage serial/lot numbers and even after-sales service (A/S) stages.

Inventory Quantity Management

• When you enter sales, purchases, and production details, they are directly reflected in inventory.
  This resolves discrepancies between actual and internal inventory caused by missing transaction records.
• The calculated inventory quantity is reflected in all ledgers, allowing you to check inventory and inflow/outflow in real time.
• When entering transaction details, you can specify the warehouse for inbound/outbound, so inventory by warehouse is managed automatically.
  Moreover, you can register an unlimited number of warehouses, enabling you to categorize inventory as needed.

Inventory History Tracking

• Even if inventory quantities are off, there is no problem.
  Since inventory is calculated based on transaction records, you can immediately check inventory history by simply viewing the entered details.
• You can record serial numbers and lot numbers for each item,
  so even for items of the same type, you can track when and where each item was received or shipped.

Integration with Other Operations

• Even if the person in charge changes, work is shared instantly without the need to request or transfer data.
  Because recorded transaction details can be easily checked at any time through reports within the given permissions.
• You can import recorded order details to proceed with sales, purchasing, and production tasks,
  eliminating the need to re-enter the same information and preventing omissions.
• You can immediately check the progress of tasks in other departments, ensuring smooth workflow connections.
  For example, the sales department can view purchase details to accept orders according to scheduled delivery dates,
  and the purchasing department can view the production department's plans to proceed with procurement.

Inventory Quantity Forecasting

• By considering current inventory, as well as planned sales and purchases,
  you can accurately forecast the quantity to be ordered for production and sales.
• You can set minimum inventory levels for specific items,
  allowing you to predict and prevent situations where inventory falls below the required level for sales.

Profit Management

• Your company's profit amount is calculated based on recorded purchase, sales, and production details.
• You can check profit amounts and profit rates by item, making it easy to identify which items
  require adjustment in inventory or production quantities.
• The current inventory value of your company is accurately calculated based on the amounts recorded in purchase details for each item.

As shown above, by accurately recording sales, purchase, and production details in the inventory management software,
you can manage inventory quantity calculations, inflow/outflow history, work sharing, and profit management,
making it easy to manage inventory without any additional work.