Why Odoo Inventory Management Is Important For Any Kind Of Businesses?

Every business requires powerful warehouse management and inventory control to ensure efficiency and effectiveness in the company. Stock management must be made with the best inventory management software which is available in the market.  The combination of a stock register, report maintenance of the process and projects conducted on the warehouse help the company to develop whereas performing audits of other report generation functions. 

In this article, Magenest will discuss the several advantages of Odoo inventory management for your business in various aspects of operation.

What is Odoo inventory management?

What is Odoo inventory management?

The Odoo is an updated ERP platform that allows businesses to manage the warehouse and perform all the business functions of the company. It can be called the one-stop business solution because it helps you in all the aspects of a company from manufacturing, inventory management, sales, net, purchase, service, repair, human resource planning, and customer relations. All the Odoo functions can be performed and controlled by several users in the platform of the company which can be specified whereas installing the platform.

The latest version of the Odoo platform helps the users perform all of the inventory management software, which enables you to adjust operations and have a clear-cut record of the features being performed. Odoo also allows the people to set the route of product movement for the diverse operations which are performed in the warehouse. Let it be any sort of a company from a retail chain, a manufacturing facility, a retail shop, or rental business, Odoo has the all-in-one solution for the warehouse management of the products. Also, the platform allows the companies to manage several warehouses of diverse locations in a single platform, with the same level of operational management.

Odoo inventory management benefits

Routes of product movement

This inventory management system allows the user to create routes of product movement for sales, purchase, and manufacturing. The routes can be predefined by the user, which are based on the business strategies available in the company. The routes of the platform determine the movement of products in the company. Also, the operational routes are defined by the default rules available in the platform and can be configured as per the business’s operation.

Multiple warehouses management

Multiple warehouses management

This e-commerce inventory management software allows the user to manage multiple warehouses of the same company at various locations. In case you have a multinational corporation that has multiple warehouses at various locations of the globe, you can easily add various warehouse locations in Odoo and effectively handle movements of the products from one warehouse to another one.

Barcode Integration

Thanks to the help of a simple barcode scanner and enabling the barcode integration option in the settings menu, Odoo inventory management online allows the user to have barcode integration. The barcode’s application in Odoo can be configured for the intake of the products at inventory and to register all the inventory movement at several stages of operation. The Odoo enables the users to generate the barcodes for the respective products based on the nomenclature which is available on the platform. The system also helps the users print out the sample barcode images of the ones which are generated.

Reordering Rules

Reordering Rules

The Inventory Management eCommerce enables the users to set the reordering rules on the available products. This allows the company stock to never run out on the products and there are no problems of overstocking. Thanks to warning messages, the Odoo platform will always ensure to offer information on the low stock. Automatic procurement can be arranged in the Odoo Inventory Management at the instance of minimum stocking rules. The reordering rules of the Odoo platform enables the user to set a maximum and a minimum stock count of the respective products engaged with this rule.

Advanced Reporting

The advanced reporting function which is available in the warehouse management of the Odoo platform allows the users to generate reports based on the several available parameters and strategies. Some of them are custom made features and the others can be customized depending on the needs of the company. The filtering parameters can be changed based on company receipts, date, and so on and grouped by functionality in the reporting menu helps the users to group the warehouse operations based on product variant, products, dates, company, etc. The platform enables the user to generate bar graphs, pie charts, and line graphs on diverse available reports.

Traceability

Traceability

Thanks to Odoo Inventory Management open source, the user can trace the product movements within the company and out whereas shipping them to the customer. With the help of lot numbers for multiple products and unique serial numbers, the traceability of the products in Odoo can be done. The serial numbers and lot numbers are made specifically to the products whereas receiving the purchase order from the vendors at the warehouse. The Odoo platform always verifies that every lot number and every serial number is assigned to a certain product and does not allow the user to assign many products with the same serial number with warning messages.

End number of Shipments

Odoo ERP inventory management for small business enables users to take in any number of shipments in a day and purchase products from various vendors. It is unlimited on the shipping quantity and products being done on the Odoo warehouse management. Thanks to the availability of separate inventory management in the Odoo platform, users can easily perform error-free operations for all your sales shipments and purchases. All shipments and sales are processed efficiently with the initial check of inventory availability. The available products for the inventory will be informed to the customer when checking out the products from the company’s online website, the same goods can be shown on the point of sale window of the retail store

Final Words

Therefore, thanks to Odoo Inventory management, you can avoid stocking related mistakes and take decisions for better internal operations quickly. If you are looking for an Odoo ERP implementation, Magenest delivers you all allied services in Odoo including its customization, implementation, support, and maintenance for future demands. 

At Magenest, we provide our clients with world-class Business and Enterprise solutions. Some of our services include leading Open Source Solutions such as Odoo, Magento, and other eCommerce development. We deliver excellence and quality for Information Technology & Software Solutions to our clients all over the world. For questions on Odoo ERP software, you can contact our experts here, we will provide you free consultancy on Odoo ERP software.

Subscribe to our newsletter

Disclaimer:By clicking submit, you agree to share your contact information with us to receive news, announcements, and resources when they are available.
Relevant Entries
Xero vs Odoo: What Should You Pick?20171107174624
4+ Reasons Why Odoo Human Resource Management System Is Essential In Businesses?20201230175232
Odoo – The Best Ecommerce Website Builder for Your Business20210114100600