123smlcrop  Inventory Management Overview

ERP123 – Complete Warehouse Management and Inventory Planning Solutions

ERP123 contains a fully featured multi-location inventory management system that is fully suitable for use in any warehousing, product distribution or manufacturing-based environment.   The typical process for managing inventory within ERP123 will generally follow that shown in the Inventory Management Flowchart that illustrates normal data flow in a case where both Sales Forecasting and MRP are both being employed.  Overall, ERP123 provides various methods for inventory replenishment with varying levels of sophistication that you can choose to employ.   One will be right for your inventory management needs.  Used as a teaching tool at local Canadian colleges since 2005,  the ERP123 inventory system will give you superior capability to control and react to conditions affecting the flow of inventory in your supply chain.

ERP123 is a real-time inventory management system that requires no batch processing.  All transactions processed update in real-time.  This means that ERP123 is capable of supporting the most advanced inventory management environments.

Inventory Management System Components

The inventory management system in ERP123 is comprised of the following major components:

  • Warehouse Management – multiple warehouses, locations, movement and counting transactions
  • Item Master – item database and related supporting tables and functions
  • Forecasting, Sales Planning and Master Scheduling
  • Materials Requirements Planning (MRPII) and Shortage Management
  • Purchasing / Receiving
  • Sales Orders / Picking / Shipping
  • Work Orders, Production Reporting, and Material Flushing

The functional areas you choose to implement will be a reflection of the type of business you operate.  At a minimum a manufacturing company must deploy Sales Orders, Purchase Orders, and Work Orders in order to create a closed-loop inventory management system.  Other areas, such as forecasting, advanced planning and MRP do not need to be implemented immediately.  Adding this functionality once you have mastered the basics of inventory management is often a sensible approach to overall inventory system implementation.

Best-in-Class Processes

Inventory Management is all about processes and ERP123 supports a wide variety of best-in-class processes that you need to ensure the accuracy of your inventory system including:

  • Sales Order picking that supports the shipping process
  • Raw material picking that ensures complete traceability finished product and components
  • Cycle counting and Annual physical
  • Shortage Management

Rich in User-Friendly Features

In order to be able to accommodate manufacturing, distribution, and warehousing operations you must have an advanced degree of system functionality.  ERP123 is richly featured in all areas of inventory management.  Some key points are listed below:

  • Each item has a Selling, Inventory, and Purchasing unit of measure which convert automatically during transactions
  • Ability to print barcode labels during receiving and during the manufacturing process
    • Produce labels for both in-process and finished goods that support the manufacturing process
  • Support for lot and serial number controls including nested serial numbers
  • Available inventory relief methods
    • Backflushing based on bills of material
    • Floor Stock
    • Picking
  • Advanced MRP-II handles the most complex product structures and finishes in minutes
  • Supports consumables, maintenance items and tooling items
  • Customer and vendor part number cross-referencing

Check out the buttons below for links to pages that provide details on ERP123’s inventory management system

Customer Management Software Inventory Software Purchasing Software Manufacturing Management Engineering and Product Data Management Accounting and Finance

Warehouse Management

Multiple divisions, warehouses, bin locations, counting and movements

Item Master & Related Tables

Complete item database, categories, classes and groups, units of measure, inventory controls, financial controls, and costs

Purchasing Management

Control your expenditures and manage inventory more effectively with Purchasing and Receiving fully integrated with Accounts Payable

Inventory Planning

Forecasting, sales plans, and master schedules are the methods advanced manufacturers use to control their facilities and supply chain

Inventory Replenishment

Materials Requirements Planning (MRPII), detailed shortage management, and expediting tools highlight the ERP123 replenishment systems

Inventory System Reports

ERP123 provides a wide variety of available reports that give you the data you need to better manage your inventory