Get the Best Inventory Management System for Your Company
If you’re still using spreadsheets to manage your inventory, we’ve got a surprise for you. There are terrific software systems available that can help you manage your inventory and sync it with your shopping cart system, ERP, and more. One such system is Acumatica, an ERP with great inventory management features.
In fact, Acumatica ranked among the Editor’s Choices for Inventory Management software at PC Magazine. Acumatica helps your business in many ways and also features many of the elements deemed critical by inventory managers.
New inventory systems can track individual as well as bundled items. They can synchronize with your website shopping cart system so that customers receive accurate stock notifications when placing their orders. These and many other features improve communications and customer service while helping you improve inventory management.
Acumatica’s inventory management features include:
- Mobile apps
- Supply chain management
- Bin ID
- Pick List
- Photos with item codes
- Automatic reordering
- Just in time inventory
- Multicurrency settings
- Multi-warehouse management
- Low inventory warning notices
- Ability to ship partial orders from different warehouses
Let’s take a look at a few of these features in Acumatica’s inventory management software.
Inventory Costing Features
Inventory is listed as a liquid asset on most balance sheets. It’s important to make sure that your inventory is costed properly so it flows into the balance sheet accurately. If it’s inaccurate, you could accidentally skew the balance in either direction. Such a mistake could wreak havoc with your company’s financials.
Acumatica enables you to set common inventory valuation methods such as last-in-first-out (LIFO), FIFO (first-in-first-out), weighted average costing, and several other methods.
It lets you set the inventory costing method for your business and reconcile orders with inventory to subtract inventory items and value according to the method that you’ve chosen.
Point of Sale Feature Integration
Another important feature is Acumatica’s ability to integrate with Point of Sale (POS) systems. When a sale is made, Acumatica automatically updates the inventory information. This saves money and time on expensive custom programming since it is a feature built right into the program.
Bill of Materials (BOM) and Kitting Features
BOM or bill of materials refers to inventory items that are made up of many sub items, and it’s a useful feature to have in a business that bundles items together into packages. Kitting is similar, but items are bundled together to make one finished set.
Acumatica features both BOM and kitting so, no matter how you decide to manage your inventory items, you have the flexibility you need to ensure they are managed properly.
Tracking Drop Shipments
Drop shipping can be complex, with items shipping from multiple locations. If your company uses one or more drop shippers, Acumatica is the inventory management you need. It enables you to track both shipments and inventory at the drop shippers, as well as in your own system. Software that’s integrated with your drop shipper will enable you to provide real-time updates to customers, which is a plus for customer service and improves customer communications
Looking for More Advice? We’ve Got 10 More Tips
We like Acumatica’s inventory management features, and we think you will, too. If you need more advice as you consider various ERP systems and their inventory management functions, we have a free checklist you can download called 10 Tips for Smarter ERP Selection.
With so much to offer, Acumatica meets the needs of companies both big and small for accurate yet flexible inventory management in a powerful ERP system. For more information on Acumatica, visit Mindover Software or call us at 512-990-3994.