Inventory Software Singapore Singapore on Stock Management & ERP System

Inventory such as raw materials or semi-finished products can be high value asset of a business and it is very important that we need to safe guard this asset in a secure warehouse with proper inventory management control as it may be subjected to losses or damage or pilferage. This will affect the cash flow of the company as some products may have short lifespan or EOL(end of life) and it may be obsolete that may lead to write off. Proper define guidelines and rules must be set according to the product life cycle or expiry date management with issuance according to FIFO or LIFO or FEFO

A versatile inventory management software that integrate with the ERP system for warehouse management enables the business process owner to track and define inventory stock levels, pre orders quantity against sales order deliveries and within a manufacturing environment it is use to create a work order, bill of materials and other production document. It is important to maintain an optimum stock level in your warehouse. Poor inventory control with stock shortage will lose business opportunity on the other hand an excessive stock inventory will result to loss in revenue due to additional capital bound with the purchase or additional storage space required.

Maximize your profit with inventory software

An Inventory management software is very important as you can match the supply with the demand to maximize your profit. The software must also be versatile that it could provide you analytic report to identify customer purchase behavior and it may incorporate the features as below

  • Monitor batch expiry stocks functions
  • Item listing valuation of stock
  • Costing of stocks
  • Location transfer Allocation/ Transfer of stocks of different locations
  • Consignment function for stocks control
  • Stock adjustment with authorizations
  • Billing of invoice debit note and purchase and other billing
  • Items assembly function and stock adjustment
  • Customer database update
  • Centralized web-based reports for all outlets
  • Stock balance report
  • Stock Transfer report
  • Goods Receive Report
  • Purchase Order Report
  • Write Off Report
  • Stock Take Report
  • Multi-location stocks report
  • Salesman, Stock balance and Bill of material report
  • Stock card report

 

 

There are four accepted methods of costing inventory item are

  • specific identification;
  • first-in, first-out (FIFO);
  • last-in, first-out (LIFO); and.
  • weighted-average.

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