March 4, 2020 9:25 am | by Archana
SapphireOne’s inventory management software offers a comprehensive inventory management, manufacturing and purchasing capabilities, that improves supply chain management and delivers an end-to-end, procure-to-pay process. With SapphireOne, you’ll be able to better manage & control your inventory levels and costs—and better meet fulfillment expectations, improving the client/customer experience.
SapphireOne Inventory management is commonly referred to as a Base Inventory is the foundation for all your inventory needs. In SapphireOne the Inventory Inquiry list screen displays a list of the details of your Inventory items allowing for easy selection of any of your individual Inventory records for additional viewing and modification.
Inventory management is probably one of the most important areas of your business and the most complex and widely used. The first screen of individual Inventory records is the details page. The Details Page displays information about the Inventory item information ( such as the ID, name, class, type), grouping, description, standard Prices, FX prices, stock levels and mins and maximums etc.
Quickly view the group, size, prices and stock level of your Inventory item within the SapphireOne Inventory Management
This area holds basic details about the item primarily the ID, name, class, types, department, projects name and settings. Here all inventory items can be assigned to a specific Class which enables additional searching, reporting and pricing for inventory items in the assigned classes. The type option allows you to set up different types of the inventory such as non-diminishing, normal, serial, batch, item, activity, hire, assets and voucher. By selecting a type this will define the inventory type. The system will make the appropriate alterations to various other pages for these inventory items. As an example a Batch type of inventory, will then provide batch tracking of all purchases and sales. Tracking of stock levels for normal inventory items, if the batch functions are turned on in the inventory detail, this allows batches of the same inventory item to be assigned a batch or serial number, which then becomes a batch number. These items are also tracked by the system when they are purchased and sold as batches and this is enforced by the system. The stock levels in each batch or serial are tracked individually.
In the grouping area the user may use up to six Tags for Inventory items enabling additional searching and classification. As an example Seasonal tags are used when a customer order is selected from a browser using the Web Pack. They are directly linked to the Web area in Master Defaults on the Inventory Page. An example of its use would be if customers were to use the Pre-Order function in the Web Pack to enter in anticipated future orders for inventory items. This would then give sales staff an indication of the quantity and timing of any purchases of stock that they would need to fulfil these orders.
In pallet you can enter the number of the Inventory items that are shipped on a Pallet. When a Sales or Purchase order is raised, the number of Pallets required for this Inventory Item will be displayed on the transaction of inventory vendor purchase entry screen. If you are charged by the Pallet for shipping, you may have to make a change to the quantity to make sure you are fully utilising your money for this specific shipment. In most screens within SapphireOne the Quantity and Weight/Area fields are linked and will calculate to each other. The user has the option of entering a quantity and the weight/area figure will be calculated by the system. Alternatively, the user may enter a figure into the weight/area data entry field and the system will calculate a quantity.
Standard Prices area
The Standard Prices area enables the entering of pricing details for your company. There are a range of Standard codes from A through to H and Ex, tax exempt. The user has the option of entering any of these prices manually to set different prices for different customers of the inventory items by price code.
FX Prices area
The FX Prices area displays the FX currencies that are in the system. The update button is used to perform a manual update of FX prices for the particular Inventory item. This section of the details screen will only display if Foreign Currency has been activated within SapphireOne.
Stock Levels area
The stock level area gives you an instant snapshot for this particular Inventory item of exactly what the status is for current stock in the ERP system. Minimum and maximum stock levels set the minimum and maximum stock levels for the item when reordering. The current field displays total number of all posted transactions and the un-posted, displays total number of all un-posted transactions. The allocated displays the number either allocated for delivery or allocated to a project. You can calculate your available stock by using the formula Available stock = Current + Un-posted – Allocated. Stock managers can use this area as a basis for changing the Economic order quantity (EOQ) and safety stock levels for the product.
November 9, 2018 3:18 pm | by Archana
In simplified terms, inventory management allows organisations to see all the small moving parts of its operations thus ensuring they make better decisions and investments. It is a key element in business today, and an ERP software provides an integrated approach to business planning and operations. Over-inventory or under-inventory will affect your finances and can damage the overall health of your business as well as business opportunities.
The SapphireOne ERP Business Accounting application ensures you have the integration you need to help you make quick decisions and avoid mistakes. The inventory management module assists you in managing your finances, logistics, operations and inventory management, to maintain accurate records of stock all in one central repository.
Obtain a powerful solution for the accurate control of stock, inventory management, from ordering, manufacturing, right through to sales and delivery with SapphireOne ERP Accounting application
A shortage of stock will result in dissatisfied consumers, with a flow on effect of less sales and greater handling and delivery charges. The all-in-one SapphireOne ERP Business Accounting application solution integrates the organisation to working within the one data file, with access to real-time data to make it easier to monitor and control movement of stock. Accurate reporting gives you the flexibility necessary to meet changing demands. The ERP will ensure you have better control of your stock and its movements by improving efficiency across multiple departments and operations in the supply chain.
Obtain a complete view of inventory management under one application platform
SapphireOne helps you to view inventory and track items in one application. All departments are integrated and receive instant visibility from entry of inventory as raw materials to their exit as finished goods to the suppliers/customers. This real-time visibility across the operations and supply chain provides the necessary planning tools to help you make better decisions.
Avoiding over and understocking
SapphireOne ERP application gives you real-time data to instantly see surplus or shortage in stock and react accordingly. This manages stock optimisation and inventory control and keeps track of the items that are selling quickly. Pre-built automated solutions are within the SapphireOne ERP application to help with streamlining of all stock activities.
Get smarter warehouse managing techniques
Correct warehousing techniques ensure the management of multiple sales and logistics channels. It coordinates movements of goods in and out of the organisation warehouses.
SapphireOne ERP application facilitates order and operating delivery flows with automation, multiple tracking options to access bin locations, centralised database and advanced picking methodologies. This will improve warehouse productivity via labor efficiency, decreasing inventory levels, increasing order fulfilment and reducing order cycle times.
SapphireOne ERP application provides speed and visibility across the supply chains within the organisations
Without control of the supply chains as they grow more complex and global, organisations today risk extended lead times, running out of stock, delayed deliveries or complete stoppage of production. Ensuring the right stock is at the right place, right time, is critical to managing supply chain volatility.
SapphireOne ERP application mitigates these challenges by giving you control, speed and visibility. Automated processes, expanded insights, BI (Business Intelligence) Dashboards enables you to find patterns rapdily and use the data to further improve your company’s offering. Real-time data and visibility within a centralised database ensure accurate management of supply chains and operations.
Helps in responding faster to customers through real-time information
With customers being your most valuable asset, it makes sense ensuring their demands are met in a timely manner. SapphireOne ERP application delivers real-time data in one database across the organisation, so goods and level of service are kept at an optimum level. Our ERP system has all the information integrated and ready, so you can respond quickly on important decisions on what to do now or in the future. Queries regarding product availability or managing inventory management can be dealt with accurately giving your business the competitive edge.
SapphireOne ERP application helps in forecasting future stock needs with precision and accuracy for your inventory management
Stock management allows you to properly plan your stock needs. Stock quantity must be accurate so you can forecast in a timely manner. SapphireOne ERP application ensures you have real-time data to gain the confidence you need to forecast demand. Our inventory management module will highlight specific demands of stock, track turnover, in turn will help with forecasting and ordering of the right quantity. Data analysis and rich reporting features ensures you can deliver precise demands, accurate forecasting and predictions.
Plan your inventory with SapphireOne ERP
Avoid all your inventory pitfalls with SapphireOne ERP Accounting application. Planning will improve profits through reduced inventory cost structures. SapphireOne ERP application has automated order replenishment and with the functionality of real-time data, surplus inventory is spotted immediately. Inventory turnover with the ability to drill down to tracking segments of inventory, improves your supply chain efficiency and productivity.