Inventory Management

Inventory Management (IM) is building block of manufacturing or trading industry. Irrespective of size, type and nature of company, one thing that is common amongst all, that is Inventory. As an element of Supply Chain Management, it includes aspects such as controlling and overseeing ordered items, their storage and controlling the amount of items for sale. Inventory Management helps in streamlining the process that brings more precision in business analysis and adds to decision-making.

BizNext IM module is powerfully designed with unique features that make it flexible as well as robust, to adapt to various changing needs. It streamlines and automates the processes of business units. Along with the basic ability to set up master data, BIN Management and multiple levels of inventory management, it enriches the system with the capability to drill down the analysis at ‘Item Property’ level. The system is equipped with the mechanism of setting up the properties/ master data dynamically in real time, so that the module is able to adapt to any specific business vertical or industry.

Any item except the fixed assets are defined and regulated under Inventory Management module. IM module stores stock Items as well as the raw material. These items can be further regulated in terms of their flow within the system from purchase to production and later from stock to the sale points. In short, IM module is responsible for recording the details of every item that enters or exits a warehouse as keeping record of the purchased and used materials during the complete process.

Inventory Management also includes Inventory control that minimizes inventory costs and maximizes production in the shortest time frame for customers.

Inventory Management Features

Configure Item Codes and Variants

BizNext IM is designed in a manner that lets you configure Item Codes and Variants. It gives you flexibility to create any number of attributes and map them to the existing master table. You can also create your own default master and map the attributes. IM helps you upload pictures of Items, Item Variants and Item Codes. A unique feature that BizNext offers is generation of Hierarchy /Structure of Item Group. This emphasizes on selection or addition of value from the Parent Group.