Inventory Management System for Better Visibility and Control
Manage stock at multiple sites. Evaluate vendors. Compare suppliers. Avoid deadstock. Generate PR and PO. Streamline procure to pay processes on a centralized cloud-based inventory management system.
Streamline P2P Cycle for Optimized Inventory Control
A cloud-based Inventory Management System takes care of the operational, monetary and logistical capabilities of an organization. It is the management of all materials required to generate business.
Procure to Pay means the culmination of all processes involving the management materials, vendors, suppliers, sites, receipts and payments. An automated system will track and analyze all procure-to-pay processes on web and mobile-based software for instant access from any location.
StrategicERP P2P Software Modules
- The admin module consists of the creation of a Master setup for companies, users, godowns and vehicles, management of passwords and outline of statutory parameters for companies.
- The AI-powered Inventory Management System module allows users to create purchase orders, and quotations, track receipts, and goods received, manage stock and more.
- Automation of the P2P cycle leads to decision-making business insights including stock aging, supplier comparison, purchase order rates, supplier ledger, inventory turnover and more reports.
P2P Cycle for Inventory Management
For operations to run smoothly, you need to manage your P2P cycle. A perfectly stocked warehouse is never understocked or overstocking. StrategicERP’s Procure to Pay Software can alert you about depleting inventory, avoiding unnecessary costs. Similarly, over stocking may lead to increased costs because of duplication of orders and cancellations.
Procure to Pay means managing the purchasing and payment processes for ordering the amount of inventory that is required, while maintaining optimal levels to enhance performance while managing costs. StrategicERP’s Inventory Management Software (P2P) incorporates the entire planning, reviewing and execution process onto a single centralized platform.
Streamlining Procure-to-Pay Processes
- Increased accuracy and complete tracking
- Prevention of overstocking and understocking
- Identification of fastest-selling products or vendors
- Shortlisting suppliers after comparison
- Comparison of past purchase order rates
- Analysis of PO, PR, GRN, and PB
- Elimination of price discrepancies through a centralized system
- Single common P2P Cycle platform for all stakeholders
- Instant access to a safe and secure cloud platform
- Reduction of manual mistakes and better utilization of manpower
- Reduction of unnecessary costs and better marketing strategies
- Transparent workflow for the warehouse management teams
Inventory Management System is an investment that pays. Not checking or regulating the movements of materials in an organization can drive up costs unexpectedly. It would be wise to invest in a secure cloud-based system that increases your return on investment.
The Fastest Way to Grow Your Business with the Leaders in ERP
Why Choose StrategicERP Inventory Management System?
Centralized View
View a snapshot of all order fulfillment and inventory tracking from one screen that is common for all. Receive an overview of activities as soon as you log in.
Mis Reports
Reports generated by the Inventory Management System compare Purchase Orders, Purchase Requisitions, Goods Received Notes, Stock Ledger, Quotation Ledger and more.
Cloud ERP
Better security. Seamless integration. More data insights. No infrastructure costs. Sustainable. Accessible from anywhere on any device.
Mobile App
P2P software on the go! View, track and manage at any time from any place. Receive notifications and regular updates on your iPhone or Android devices.
Multi Language Support
Integrate and communicate better with local language support. Easy to use and more accessible for all users of the P2P cycle Software.
Robust Integrations
Integrate easily with third-party applications and devices, including IoT devices, vehicles, machinery, mobile apps and more.
Some Of Our Valuable Clients
FAQ
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Streamline Procure-to-Pay Cycle with StrategicERP's Inventory Management
StrategicERP’s cloud-based Inventory Management System revolutionizes the Procure-to-Pay (P2P) cycle by automating and centralizing all processes related to materials, vendors, suppliers, sites, receipts, and payments. Our AI-powered platform allows users to create purchase orders, track receipts, manage stock, and generate insightful reports on stock aging, supplier performance, and inventory turnover. The admin module facilitates the setup of companies, users, and godowns, ensuring comprehensive control. With instant access via web and mobile, StrategicERP's ERP system enhances decision-making, optimizes procurement strategies, and improves overall operational efficiency.
Key Features:
- Automation: Streamlines all P2P processes for increased efficiency.
- Centralization: Centralizes materials, vendors, suppliers, sites, receipts, and payments.
- AI-Powered Platform: Allows users to create purchase orders, track receipts, and manage stock.
- Insightful Reports: Provides reports on stock aging, supplier performance, and inventory turnover.
- Admin Module: Facilitates setup of companies, users, and godowns for comprehensive control.
- Instant Access: Accessible via web and mobile for real-time decision-making.
This integrated approach makes it the ideal solution for streamlining your P2P processes.
1. Comprehensive P2P Cycle Management
- Digital Transformation: Automates the entire procure to pay (P2P) cycle, from procurement to processing, storage, and issue of goods.
- Inventory Control: Prevents overbuying, underbuying, higher stock holding costs, and unaccounted waste.
- Project-Specific Reports: Inventory monitoring system generates project-wise Store Aging Reports, Stock in Hand, Stock Aging Reports, and more.
| Features | Key Functions |
|---|
| Centralized Data | Manage Purchase Requisition, Pending Requisition, Comparative Statement, Vendor Shortlisting, Purchase Orders, Advance Payments, PO Closing Quantity, and Vendor Evaluation. |
| MIS Reports | Generate critical MIS Reports like Stock Ledger, Stock Report, Pending PRs, Pending POs for GRN, and Goods Received Register. |
| Advanced Analytics | Leverage AI-powered P2P forecasting to predict critical item rates, purchase requisitions, material delivery delays, and more. |
| Automated Processes | Auto-generate purchase orders and purchase bills, GIN, GRN, and track material transfers, low stock, site-wise material consumption, vehicle and weight measurements, scrap sales, and goods returns. |
2. Cloud-Based Accessibility
- Security and Integration: Enhanced security, seamless integration with third-party applications, and no infrastructure costs.
- Sustainable and Accessible: Accessible from anywhere on any device, ensuring real-time data access and decision-making.
- Data Insights: Gain more data insights for better inventory control and planning.
3. Advanced Analytics and Insights
- Data-Driven Decisions: Robust reporting and analytics capabilities in our inventory planning software provide actionable information on procurement metrics, spend analysis, vendor performance, and contract compliance.
- Demand Forecasting: Analyze historical sales data and market trends to predict future demand accurately, reducing overstocking and stockouts within our ERP system.
- Cost-Saving Opportunities: Identify trends, optimize supplier relationships, and ensure adherence to procure to pay policies.
4. Customizable Solutions
- Tailored Reports: Generate customized reports with detailed analytics on stock levels, sales trends, and turnover rates tailored to specific business needs.
- Flexible Parameters: Define parameters and metrics for insightful and efficient inventory management system.
5. Integration Capabilities
- Seamless Integration: Integrate easily with third-party applications and devices, including IoT devices, vehicles, machinery, and mobile apps.
- Supply Chain Coordination: Facilitates seamless data flow between different functions, improving efficiency and responsiveness across the supply chain.
By leveraging StrategicERP’s advanced Inventory Management Software, businesses can optimize their inventory planning software, streamline their procure-to-pay processes, and drive operational excellence. Choose StrategicERP for an integrated, efficient, and insightful system that meets your unique business needs.
Key Benefits- Increased Efficiency: Streamlined processes and reduced manual workload.
- Enhanced Accuracy: Real-time inventory control and precise data management.
- Better Collaboration: Unified data access for all team members, improving coordination.
- Scalability: Easily adapt and scale with business growth and changing needs of procure to pay cycle.
1. Real-Time Inventory Tracking
Effective inventory control begins with accurate tracking. Inventory Management Software allows businesses to monitor stock levels in real-time across multiple locations using barcode scanning, RFID technology, and IoT devices. This ensures precise stock levels, reducing inventory errors by 69%, according to recent surveys.
Key Features:- Tracking: Real-time tracking and monitoring capabilities enable businesses to adjust inventory levels as needed, ensuring optimal stock.
- Alerts: Automated alerts notify businesses when inventory levels fall below a set threshold, preventing stockouts and ensuring continuous supply.
2. Supplier Management
Robust supplier management is crucial for a smooth supply chain. Our robust software tracks vendor performance, manages purchase orders, and maintains transaction history. Companies with strong vendor management report a 15% improvement in supply chain efficiency.
Key Features:- Centralized Information: Store vendor details, terms, and performance metrics in our ERP system.
- Automation: Automate vendor onboarding and ensure compliance, reducing administrative tasks.
- Streamlined Selection: Compare bids, evaluate performance, and negotiate contracts efficiently.
3. Order Management
Automating the order process with Inventory Management Software ensures efficient order creation and fulfillment, reducing errors and delays. Integration with sales channels provides real-time stock updates, preventing overstocking or stockouts.
Key Features:- Electronic Requisitions: Create purchase requisitions electronically, reducing manual paperwork and errors.
- Approval Workflows: Define workflows for necessary purchase authorizations.
- Automated Orders: Generate and send purchase orders to vendors quickly, reducing miscommunication risks.
- Real-Time Tracking: Our ERP system monitors purchase orders from initiation to receipt, enhancing procurement control.
4. Inventory Optimization
Inventory Management System helps businesses identify fast-selling products and optimize inventory levels to avoid stockouts and excess inventory. This ensures prompt fulfillment of customer orders while minimizing carrying costs.
Key Features:- Optimal Levels: Maintain the right inventory levels for high-demand products in one inventory planning software.
- Cost Efficiency: Minimize carrying costs and maximize profitability.
5. Reporting and Analytics
With our software, businesses gain real-time visibility into sales data, allowing for better inventory replenishment, pricing strategies, and vendor relationships. This leads to improved cash flow and profitability.
Key Features:- Sales Data Analysis: Identify fast-selling products and top-performing vendors.
- Demand Forecasting: Use historical sales data to predict future demand and adjust inventory levels accordingly.
- Proactive Planning: Anticipate demand fluctuations and plan inventory to avoid stockouts and excess inventory.
6. Mobile Accessibility
Manage inventory on the go with Inventory Management Software mobile apps. Centralize all inventory monitoring system repositories within a single app for a comprehensive view and real-time order transaction tracking.
Key Features:- Real-Time Tracking: Monitor order fulfillment processes from placement to delivery within a single platform.
- Supplier Insights: Gain valuable insights into supplier performance, pricing, and reliability in one ERP system.
- Cost Savings: Optimize inventory levels, minimize labor and storage costs, and improve profitability.
Features At A Glance
| Features | How It Works? | Benefits |
|---|
| Real-Time Tracking | Monitor stock levels across locations using barcode, RFID, and IoT. | Reduces inventory errors by 69%. |
| Supplier Management | Track vendor performance, manage purchase orders, and store vendor details. | 15% improvement in supply chain efficiency. |
| Order Management | Automate order creation and fulfillment, define approval workflows, and track purchase orders in real-time. | Reduces order processing time by up to 50%. |
| Inventory Optimization | Identify fast-selling products, maintain optimal inventory levels, and minimize carrying costs. | Maximizes profitability and ensures prompt order fulfillment. |
| Reporting and Analytics | Analyze sales data, forecast demand, and plan inventory levels proactively. | Improves cash flow and prevents stockouts and excess inventory. |
| Mobile Access | Centralize inventory repositories, track orders, and gain supplier insights via mobile apps. | Enhances decision-making and operational efficiency, leading to cost savings and profitability. |
StrategicERP provides businesses with the necessary tools and insights to streamline their inventory processes, improve efficiency, and drive growth using state-of-the-art Inventory Management Software.
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