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8 Benefits of Cloud ERP Inventory Management Software for Small Businesses
ERP (enterprise resource planning) software isn’t just for large companies. Small and medium-sized businesses, too, can see a wide range of advantages of using an ERP system.
One of the most useful features of an ERP platform is inventory management: tracking product levels, managing raw materials and components, and efficient warehousing and processing items. This software-based approach is greatly superior to traditional methods such as spreadsheets and paper-based processes, which are slow, inefficient, error-prone, and not easily visible across the organization.
So which ERP inventory management solution is best for small businesses? The right answer will depend on your unique situation, but Acumatica, Sage Intacct, and Sage X3 cloud ERP inventory management software are excellent options. Below, we’ll go over 8 benefits of cloud ERP inventory management software for SMBs.
8 Benefits of Cloud ERP Inventory Management Software
1. Multi-stage Warehousing and Site Management
With cloud ERP software, users can oversee several warehouses or sites at the same time within a single pane of glass. You can also link multiple locations or location types to a single warehouse.
2. Movements and Transactions
Cloud ERP inventory management software allows users to track the movement of a product or shipment from source to delivery. The software also supports automated management of commercial transactions between sites.
3. RF Data Acquisition
Users can scan barcodes and enter data into cloud ERP using radio frequency (RF) devices in the warehouse or on the shop floor. This makes it easy to automatically record product movements, streamlining the inventory management process.
4. Quality Control
With cloud ERP, users can record a variety of data for quality control purposes. This includes batch number, serial number, use-by dates, re-inspection dates, and much more.
5. Cost Calculation
Cloud ERP software supports many different features for computing prices and costs. Users can apply discounts and costs by line or order, as a value, a percentage, or a total. You can also calculate the simulated price of products, product groups, or even all products at a site.
6. Acquisition Price Tracing
Users can trace the price of products, materials, and components using cloud ERP inventory management software. This includes details such as last purchase price, standard price, simulated price, and more.
7. Inventory Control
Small businesses can use cloud ERP to monitor all the products in their inventory. It can track stock counts and store product data (including technical, management, and commercial information) across different units, sites, warehouses, and locations.
8. Advanced Reporting Features
Last but not least, cloud ERP comes with invaluable reporting and business intelligence features. Users can leverage reports and analyses to make better forecasts and predictions about their product inventory in the future.
Take Control with Cloud ERP Accounting and Inventory Software
Businesses of all sizes and industries can realize a number of benefits from using inventory management software such as Acumatica and Sage cloud ERP. So how can you actually go about implementing a cloud ERP solution in your own workflow?
If you’re new to the ERP world, it’s an excellent idea to work with an ERP partner who can help guide you along the way. Blytheco is a full-service ERP software partner that helps our clients transform their business, achieving greater productivity, efficiency, and profitability. We can assist at all stages of the process, from planning and roadmaps to implementation, optimization, and long-term support.
Ready to learn how Blytheco can help you achieve success on your ERP journey? Get in touch with our team of ERP experts today to discuss your business needs and objectives.