Your company’s ability to manage inventory will determine how well it can grow sales and satisfy customers. Inventory has a big impact on your company’s production, distribution, and customer support. Thus, it only follows that inventory must be done well.
A cloud-based inventory management system gives you complete visibility and control over the flow of goods both inside your company and throughout the global supply networks. It is an all-inclusive costing and materials management solution. It helps with cost containment, cost optimization, working capital management, and inventory investment management. It is an extensive system designed to automate, simplify, and regulate inventory movements both inside the company and over complex international supply networks.
Businesses must effectively manage their inventory in stock rooms, warehouses, and manufacturing facilities from the point of receipt through the point of use or order fulfillment. Oracle Inventory Management’s user-friendly dashboards that display all inventory statuses, stock levels, and transactions across numerous locations in one spot provide full visibility into complex materials management procedures.
Inventory Replenishment
Stockouts can cost your business money in the form of lost sales and diminished customer loyalty. Refilling inventories ensures that firms have enough stock on hand to meet production deadlines and complete expected customer requests. Oracle Inventory Management provides robust Min/Max planning features to replenish stock from suppliers, production facilities, or internal stocking locations like warehouses and distribution centers. You can also create replenishment policies that outline the minimum and maximum inventory levels for each stocking site and item in order to maintain the required service levels.
Advantages:
Access balances, monitor lots and serial numbers, manage different material statuses, and supervise the proper handling and storage of different materials are all possible.
- Initiate material transfers, stock issues, and facility-to-facility counts.
- Utilize customizable permissions and controls, streamline the classification of commodities and pinpoint problematic items.
- With powerful min-max planning capabilities, you can restock from your suppliers, production facilities, other internal organizations, or bulk stocking sites without incurring expensive delays.
- By consigning goods from your suppliers and only paying for what you use, you can lower your overall inventory cost.