Inventory software

Inventory software is the most innovative and beneficial way to maintain optimal control of business assets.

Technological advances are aimed at facilitating people’s daily activities, have come to understand each of the areas of development and one in which they have positively impacted is the business sector where they have met the needs of each company, as to one of the most important tasks, inventory management.

Inventory management

The inventory is a fundamental asset of the capital of a company, which is responsible for providing all the necessary materials that keep the tasks of each area in constant operation. That is, its operation has a direct impact on the development of production and market demand.

Inventory management is an important task within a company’s strategies. All activities related to it are focused on the specification of registration procedures, rotation points, classification forms and inventory models, each established by the control methods.

Inventories include raw materials, resources in the process of transformation, finished products and merchandise for sale that are used within the production chain or as the final presentation of the products.

Incorrect inventory management can lead to delays in production or even in unknown robberies by the company that generate an unbalanced balance of revenues and profits.

On the other hand, the excess of products also means a bad administration that brings with it little storage space or an additional expense due to the immediate need to have a space for all the materials.

An inventory software guarantees the quality in the presentation of the utility of the company and the use of storage space, which increases customer satisfaction.

Warehouse control

The warehouse is the space that is designed to protect and control the company’s fixed or variable assets that are required in the management, production and sale of products. The optimal storage of materials is related to the quality and final cost of the product.

The efficient control of the warehouse is a practice that leads to the fulfillment of the business objectives contributing profitability to the company.

A warehouse demands a thorough and real-time control to obtain an updated list of the stocks that it houses inside and in this way keep a record of the inputs and outputs of the goods and products.

In past times, this same activity was carried out without the presence of any technology, therefore it was carried out manually, which for several years meant a great effort on the part of companies that rarely achieved efficient results, especially in those of wide storage range.

Given this inoperative situation, the inventory software was designed with the purpose of providing solid support to companies, through a computerized system that allows warehouse management.

Thanks to the inventory software and this type of technology with business application in combination with the bar code reading it was possible to have in real time the movement of the goods that are stored in the warehouse, the inputs and outputs of the products, the reservations , the means of production, etc., to avoid the shortage of products.

ABC Method

Also known as the 80/20 method, which consists in defining the relevance of the products according to their quantity and the value they possess. For this, there are 3 generic categories:

Class A. These are products that have an existence of 20% of the total inventory, but their value reaches up to 80%. They usually have a low sales frequency.
Class B. They represent 40% of the total items and their value is around 15% of the total. They have a measured sale frequency.
Class C. These are the remaining 40% of the inventory and are the lowest cost, with a value close to 5% of its total. They have high sales frequency.

FIFO Method (First Inputs First Outputs)

This method focuses on recognizing the materials that enter the warehouse so that these are the first to be sold or used in production, avoiding expiration problems.

It requires a template in which the updated warehouse movements are specified. This activity is optimized with cloud storage system, which allows access to information always updated from anywhere.

EOQ (Economic Order Quantity) method

Is a method that has the purpose of determining the amount of the order that reduces inventory costs. It is based on 3 key principles:

Demand is constant and known a priori.
The frequency of use of the inventory is persistent over time.
Orders are received at the time when inventories are shortages.

Types of inventory software

Currently, technological innovation has allowed the introduction of a wide range of inventory software. It is important to keep in mind the different types of systems to know which one best suits the activities of the company.

Integral software Some of them are integrated as a solution that includes modules that are related to administrative areas.
Free / paid. The first despite being functional, usually have more limited actions unlike those of payment that offer a complete solution.

Cloud / local storage. The local system is installed only on the device to be used and cloud storage allows unrestricted access of time and space.

Industrial Barcode System (IBS)

This is a system for the automation and control of production processes, controlling the main inventory transaction flows. This tool is designed to improve inventory management and plant floor operations in real time.

The benefits of the IBS:

Purchase order receipt flows.
Issuance of raw materials to production orders.
Deliveries between locations within the same warehouse.
Receipt of the product from the production order or sales order.
Automating processes, allowing the labeling and involvement of Visual ERP in real time.

The modules and submodules of IBS are integrated to favor the access to the information and the distribution of this, without needing the repetition of data. These are:

Sales order shipments.
Receipt of products based on the production order.
Issuance of materials to order of production.
Receipt of purchase order.

In Visual Mexico we have solutions that fit the particular needs of each company. IBS allows the administration of inventories and operations in the sales floor, using the same database where Visual ERP is hosted.

The portability of IBS is through a handheld or mobile device, synchronizing all customer and company information. In addition, it links to Visual ERP to carry out inventory transactions.