ERP in Inventory

Inventory management software is made up of several key components working together to create a cohesive inventory for many organizations' systems. These features include: Reorder Point Once the inventory reaches a specific threshold, the system should indicate to the managers to reorder that product. This helps companies avoid running out of products or tying up too much capital in inventory. Asset tracking When a product is in the  warehouse  or store, it can be tracked via its  barcode  and/or other tracking criteria, such as  serial number . Nowadays, inventory management software often utilizes  barcode ,  radio-frequency identification  (RFID), and/or  wireless  tracking technology. Service management Companies that are primarily service-oriented rather than product-oriented can use inventory management software to track the cost of the materials they use to provide services, such as cleaning supplies. This ...