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What Functions Included in an ERP Inventory Management Software

Your eCommerce fulfillment supply chain includes ERP inventory management software. You could face many challenges if your inventory is not managed correctly. These problems can be very costly for your wallet. You need a central inventory management system to eliminate all of these challenges and improve the efficiency of your supply chain.

ERP inventory management can be one of these systems that can help reduce inefficiencies and organize your supply chain.

Understanding ERP Inventory Management Software

ERP stands for Enterprise Resource Planning. ERP inventory management is a unified management approach that allows businesses to manage all operations, including finance, logistics, inventory, and order management.

ERP inventory management software provides businesses with a single view of all operations, which can be used to aid in decision-making, supply chain management, and overall business performance.

Read More: 6 Advantages of ERP Software for Inventory Management

What does an ERP Inventory Management Software include?

An ERP inventory management system has many features. It integrates operations into one view. Some features include:

  1. Multichannel order fulfillment
  2. Management of orders
  3. Warehouse management
  4. Stock management
  5. Payment gateways
  6. Logistics Integration
  7. Analytics for business

ERP Inventory Management software has many benefits

Greater Efficiency

An ERP inventory management system can help you reduce time and automate your daily tasks. This allows you to increase production and achieve more results in a shorter time.

Accurate Counting

ERP inventory management systems track and report inventory at shorter intervals. This allows you to see real-time information about excess inventory, shortages, and replenishment, as well as other inventory metrics. It updates your list based on product transfers, shipping, receiving, and other factors.

Transparency in the Supply Chain

A centralized inventory management system makes it easier to avoid mistakes and mishaps. All information is shared equally because all parties are connected directly. An ERP inventory management system can also be used to sync order and shipping information, which allows for transparency in the supply chain.

Complete Inventory Analysis

ERP inventory management systems provide data for each inventory stage, such as shrinkage, cost of goods sold, and turnover rates. You can then analyze your inventory metrics and optimize your efficiency accordingly.

Better reporting

You can make better decisions with more data and more detailed insights. ERP inventory management systems take into account the entire supply chain so your data is more comprehensive and can help you make better decisions for your business.

Is ERP Inventory Management software a requirement for your business?

An ERP inventory management system is not necessary for every business. It can give your business a huge boost.

An ERP inventory management system is an excellent option for businesses looking to grow and increase their orders.

An ERP inventory management system is a great option for businesses with complex workflows or a complicated supply chain. It can also help you avoid mistakes and make it more efficient.

How can ERP inventory management improve eCommerce fulfillment?

The supply chain for eCommerce fulfillment includes inventory management, warehouse management, and order receiving.

An ERP inventory management software can streamline the eCommerce fulfillment supply chain. It allows you to compile data and update information in one place. This will allow you to optimize your warehouse space and efficiently use your inventory. It also allows you to synchronize shipping and returns data and notify you when you need to replenish your stock.

Shipping Fulfillment – Outsource eCommerce Fulfillment

Although ERP inventory management software might seem attractive, it can be difficult to maintain and purchase. It requires a large capital investment.

To expand your eCommerce business and increase order volume, you need experts. Shipping Fulfillment, a 3PL fulfillment provider, can assist you in this endeavor.

Although a central inventory management system may reduce the stress of managing your warehouse, it is not the best way to reach all customers in India.

Shipping Fulfillment allows you to store inventory in multiple warehouses in India and fulfill orders based on demand.

This allows you to store inventory near customers and reduce shipping and delivery costs.

You can give your customers a competitive edge by offering one-day or two-day delivery options. Your RTO can be reduced by up to 60% with the success of your deliveries.

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ERP inventory management systems are a revolutionary idea that can reduce manual work and improve efficiency in your eCommerce business. It is a significant investment that can be costly so make sure you consider all options before making a decision.