An ERP software solution is a common business tool used by many organizations. ERP systems offer numerous benefits that cater to a lot of companies. Inventory and warehouse management systems are essential tools being used in areas such as retail, wholesale, and many other industries. It benefits the company by helping to keep track of its produced assets, ensuring the quality of a product, and distributing to customers on a timely basis. In this blog, I will explain why you must integrate an inventory system with ERP software.
ERP systems also play an essential role in managing inventory. It is an all-in-one software that has many features used to manage warehouse and inventory activities. However, its capabilities and features are not enough. Inventory-specific software has different functionalities for efficient management of inventory and stocks. It is not necessary that your all-in-one solution may work perfectly in dealing with all areas of business. You may face problems when you have multiple individual functions occurring at the same moment. Then, things might get twisted.
There is a limit to performing ERP customizations. Otherwise, you will face increased system costs, upgrade hassles, and slow implementation procedures. In this situation, integration of a specialized inventory system with an ERP software solution can solve the problems you are facing:
Below are the key reasons that compel you to integrate the inventory system with ERP software solutions :
1. Reasonable cost
ERP integration with the inventory system results in better organization, which in turn, helps to save time. If you customize your ERP inventory module, then it will be very expensive for your business. This integration alleviates the production bottlenecks and thus, reduces business costs through better inventory planning. It also enhances customer satisfaction due to better management of inventory. Overall, ERP integration with inventory management makes way for improved efficiency and better productivity in your warehouse.
Also Read: Inventory Management Software For Managing Restaurant Business
2. Accurate financial reporting
Inventory management solutions of your business play a very important role in all stages of your financial reports. Finished assets, work-in-progress raw materials, and all kinds of inventory are associated with a financial value. Inventory management integrated with ERP software solution provides accurate annual reports and finance-related reports. By using an ERP inventory integrated system, it is sure that the recorded value in your books will match the physical value in your warehouse.
3. Supply chain transparency
Several organizations connect with third-party supply chain associates to refill their inventory levels and coordinate customer shipments. So, to perform this you need to integrate the inventory management services with ERP software as it will not only keep track of the production of the company, and inventory cycles but also coordinate with suppliers. A company that supplies materials to you can view your company’s varying inventory levels and can ensure their product is available at your warehouse when your customers need it.
