Difference between revisions of "Inventory Management Functionality"

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* [[App:Stocktaking|Stocktaking]] - Use this app to perform stocktaking jobs. It offeres various options like [[regular stocktaking]], [[rolling stocktaking]], [[Adhoc stocktaking]] and [[inventory revaluation]]
* [[App:Stocktaking|Stocktaking]] - Use this app to perform stocktaking jobs. It offeres various options like [[regular stocktaking]], [[rolling stocktaking]], [[Adhoc stocktaking]] and [[inventory revaluation]]
*[[App:Stock defragmentation|Stock defragmentation]] - this app is used to defragment a warehouse area and free up free space
*[[App:Stock defragmentation|Stock defragmentation]] - this app is used to defragment a warehouse area and free up free space
== Inventory processes ==
* '''Order Picking and Fulfillment''' - Efficient order picking functionality is critical for fulfilling customer orders accurately and quickly. A WMS should optimize picking routes, provide pick lists, and support various picking strategies (batch picking, wave picking, etc.) to improve efficiency.
* '''Lifecycle tracking through barcode scanning and RFID integration'''
** For businesses dealing with products that have lot or serial numbers (e.g., pharmaceuticals, electronics), the WMS should support tracking these numbers to ensure traceability and compliance with regulatory requirements.
** Barcode scanning and Radio-Frequency Identification (RFID) integration streamline the tracking and management of inventory items. These technologies enhance accuracy, speed up processes, and reduce errors associated with manual data entry.
* '''Stock Rotation (FIFO, LIFO, FEFO)''' - The ability to manage stock rotation based on methods such as First-In-First-Out (FIFO), Last-In-First-Out (LIFO), or First-Expired-First-Out (FEFO) is crucial for industries dealing with perishable or time-sensitive goods.
* '''Disposition'''
** The WMS should have the capability to generate automated alerts and notifications for events such as low inventory levels, stockouts, or irregularities in the supply chain. This enables timely response to potential issues.
** A WMS with demand forecasting capabilities helps businesses predict future inventory needs based on historical data and trends. This supports proactive decision-making in terms of replenishing stock to meet customer demand.
* '''Returns management''' - An effective WMS should include features for managing product returns efficiently. This involves processing returned items, updating inventory records, and ensuring that returned products can be reintegrated into available stock if appropriate.
* '''Performance Analytics and Reporting''' - Robust reporting and analytics tools help businesses gain insights into inventory performance. Key metrics such as turnover rates, order accuracy, and fill rates can be monitored to optimize inventory management strategies.


== Related articles ==
== Related articles ==

Revision as of 19:02, 19 November 2023

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