What if every time you saw an inventory quantity or dollar amount on the screen, you didn’t just guess, but knew it was accurate? What if, when you take an order you can instantly see whether you have a quantity left over from a previous overrun, so that you can reduce run quantity on the new order? What if your cycle time to process a part was significantly reduced, whether for parts or assemblies? These are the results you should be expecting from your use of enterprise resource planning (ERP) to manage inventory.
With ERP software, most inventory transactions require little, if any, input. Inventory management is very automated, which leads to even more savings through reduction in labor. Customizable options allow for the lot, serial and bin tracking required in many precision industries such as aerospace. Plus, if your ERP software system is a good one, you should also have the ability to cycle your inventory, keeping inventory accurate and dramatically reducing the costs of physical inventories. (more…)