Inventory management is one of the most important processes for goods trading businesses that have wholesalers, companies, and distributors. To boost business efficiency, there is a need for a robust inventory and warehouse management system.
Odoo’s inventory management system helps you record all the communication between inventory and documents at all stages of the warehouse process. It also lets you track processes through the overall inventory module. There are various inventory Management Software open sources available in the market for your business. But, the Odoo inventory management system is the most preferred in the market.
What is Odoo Inventory Management System?
The term Odoo inventory management refers to a skilled and advanced module meant for business organizations. The main aim of this inventory module is to aid the process of stock management & tracking, directing productivity, and regulating all essential tasks. In short, it helps businesses manage their products or assets inventory with ease.
It is a combination of both an inventory application and a warehouse management system. This inventory management system also has a barcode scanner app for speeding up the process. With this, it becomes easier to manage the products in the warehouse. Odoo inventory management is a must for the manufacturing department as it offers a multitasking platform for managing inventory.
Odoo inventory management modules let you organize various applications such as accounting, sales, packing, purchase, and shipping connectors.
Features of Odoo Inventory Management System
Odoo ERP system comes with a bar code scanner system for tracking the product and stock movement. Odoo’s barcode application is configurable to intake the products at inventory and register all the movements.
Odoo’s inventory management system performs a double check to ensure that each lot number and serial number is assigned to a particular product. It records and saves the history of all warehouse strategies for 360-degree traceability.
With Odoo inventory management, you can set the reordering rules for the available products in your warehouse. With this, your company can over the issue of overstocking. It also allows you to pick a minimum or a maximum number of stocks for your business.
Clear and Faster
Odoo’s double-entry inventory management is power-packed with a modernized user interface and flexible design. Due to this, Odoo becomes one of the cleanest and fast-performing ERP systems.
With Odoo inventory management, you can map out your product route. Apart from that, you can also automate the transactions between the warehouses and the delivery locations.
Advanced reporting helps you to generate reports on the basis of different parameters and strategies. Besides this, you can also create various bar graphs, pie charts, and line graphs as per your reports.
Odoo inventory management module permits you to manage various warehouses of the same company located in different places. Accordingly, you can manage every product movement of each warehouse effectively.
Suppose you have multiple warehouses, you can transfer from one warehouse to another. As, Odoo also allows its users to add different warehouse locations.
Odoo is one of the most popular ERP systems, as it supports all the basic and advanced operations relating to a warehouse. It can manage and control incoming shipments, ensure efficient scrap management, prepares inventory counts, etc.
Advantages of Odoo Inventory Management System
The main reason behind Odoo’s popularity is its user experience. Odoo inventory management system has an easy-to-use interface and design. It also provides you with easy tracking of flow and the situation of inventory. Odoo’s double-entry inventory management lets you trace from support to customers.
Infused with Modules
Odoo is an open-source ERP software meant for all businesses. It is power-packed with various Odoo modules to meet several demands of inventory management. One of the best things is that you can integrate these modules with different applications like sales and accounting to boost efficiency.
With Odoo, it becomes easy to access the information as there is no need to wait for any permission. It provides the employees with access to information for quicker processing. You can also edit and modify the orders quickly in the warehouse, which will improve the data accuracy and documentation flow.
Odoo inventory management software allows employees to register all the inventory interactions, and documents, at all the stages of warehouse procedures.
Better Inventory Management
Another essential benefit of Odoo module is the ability to boost inventory management efficiency. It ensures the smooth-running of the overall inventory management process.
The inventory management system consists of various important features like tracking & managing the shipping, managing warehouses and preparing inventory counts. It is highly time-saving as the employees can directly follow up the process through an inventory module.
Updates Report and Analytics
With Odoo inventory management system, you can easily update various reports and analytics.It is easy to make changes in Odoo inventory as they reflect quickly. Due to this, businesses can showcase real-time information that helps in creating reports. With Odoo’s customizable dashboard, you can create and share reports in your desired format.
Odoo’s inventory management system is one of the most preferred inventory management systems in the market. It holds various advantages for your business and its future growth. At Uncanny, we provide the best inventory management systems for your business.
We hope this blog will help you understand all the features and benefits of Odoo inventory management system. If you have any questions or queries regarding the topic or blog, please share them in the comments.
What is Inventory?
The term Inventory refers to the goods and products that are all set to be sold to customers, and the raw materials. Generally, inventory is classified into three categories such as raw materials, work in process, and finished goods.
What do you mean by Inventory Management?
Inventory management is the process companies take up to identify their stocks and manage their inventory. It keeps a track of inventory from the purchase section to the final sale of goods. Opting for inventory management will help you recognize the trends to know if you have enough stock for your customers.
What is Odoo Inventory Management System?
The term Odoo inventory management refers to a skilled and advanced module meant for business organizations. The main aim of this inventory module is to aid the process of stock management & tracking, directing productivity, and regulating all important tasks. In short, it helps businesses manage their products or assets inventory with ease.
What are the advantages of the Odoo Inventory Management System?
The main advantages of Odoo Inventory Management System are:
● Improves Productivity
● Various Modules
● Updated Reports
What inventory valuation method does the Odoo inventory application use?
Odoo performs inventory valuation using two methods, such as,
● Costing Method
● Manual Method