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INVENTORY MODULE

Inventory is the sum of tangible goods, products or services you provide to your customers. The respective goods are itemized and catalogued into an inventory management system. Inventory is a part of a company's assets that are either ready to order or will be ready for sale soon.

Our inventory module can assist you to track individual items from purchase to sale, thus sustaining control of the company’s stock at all times. The goods that are noted in a catalogue can be either raw material, goods that are in production or finished products. E-commerce businesses most likely deal with the latter or finished goods that are currently in their charge.

Our inventory management software is designed to assist small and growing businesses efficiently and manage their inventory across multiple channels and devices.

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Why is inventory important?

Product inventory is a substantial asset as it's a real-time evaluation of the revenue a company is generating. If an ecommerce store can't move product from its inventory, it is clearly stumbling to make sales and must modify its operations, otherwise it won't acquire bottom-line revenue.

    Here is a list of the main usability that you can find within our additional Inventory Management module:

  • Register stocks of products, services and collective lists
  • Endless number of product and product group listings
  • Descriptions of products in an endless number of languages
  • Stock in negative
  • Capability to modify stock and move from one location to another
  • Management of supplier
  • Product orders
  • Product receipt
  • Delivery notes
  • Management of variants
  • Numbering of supplier items
  • Supplier invoices
  • Customer Management
  • Budgets
  • Confirmations of orders
  • Picking lists
  • Shipping notes
  • Location management
  • Unlimited number of warehouse/virtual warehouse locations.
  • Prices and discounts
  • Late orders
  • Product collections

    Costs and sale prices in any currency, including or excluding VAT:

  • Endless number of price lists and special price groups
  • Reports
  • Accounting value of stocks
  • Available stocks
  • State of inventory accounts
  • Statistics and purchase volumes
  • Configuration of the Inventory module

    Prior to the beginning to use the inventory management module you must compose the following sections so that your data is processed accurately:

  • Generate a group of stock suppliers
  • Generate stock suppliers
  • Generate product groups with Inventory withdrawal
  • Linking of products to product groups with Inventory withdrawal
  • Confirmations of orders
  • Introduction of opening stock balances
  • Recording of the amount of inventory retained by the agents

How does inventory benefit ecommerce businesses?

Furthermore, to help ecommerce store owners’ measure how their products are selling, inventory management provides a number of other benefits to online retailers as well:

  • Ecommerce companies control orders without overselling what's currently in stock.
  • Decision-makers have more control over multichannel order flow.
  • Back-end visibility is enhanced with inventory management software.
  • Data is better synchronized across all platforms in real time.
  • Overall product organization is enhanced through increased clarity.
  • Businesses don't run out of stock of products that are selling well or any other products.
  • Sales enhance as the business is constantly aware of what it can and cannot sell at a given time.

Inventory is often the greatest item a business has in its current assets, meaning it must be precisely monitored. Inventory is counted and valued at the end of each accounting period to determine the company's profits or losses.

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