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What is an ERP inventory management system? | ERP inventory management

What is an ERP inventory management system? | ERP inventory management
Inventory Management System
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An ERP inventory management system is basically a huge platform that helps you manage every aspect of your business.

Benefits of ERP inventory management

The potential advantages of ERP inventory management are far-reaching:

Increased efficiency

There are huge time-saving implications of using an ERP inventory management system. Managing operations using a centralised system not only cuts down on double-handling but also allows for automation of daily tasks. This translates to increase production and more accurate output in less time.

Cost savings

Every business owner knows that efficiency equals cost savings. Rather than paying for segmented resources or systems to handle different parts of the business, ERP inventory management systems handle many working parts simultaneously, reducing overall workload and minimising expenses.

Supply chain transparency

A growing number of businesses are using shipping providers or 3PLs to outsource their shipping and logistics requirements. An ERP inventory management system enables you to integrate with external partners to ensure all systems communicate with each other. Stock, order and shipping information is therefore synced across the entire supply chain.

Accurate data collection and reporting

With key updates on stock, orders, and customers in a single location, ERP inventory management enables quality data collection. Most systems will also allow you to create and save custom inventory and sales reports to track business performance and plan for growth.

Enables business expansion

ERP inventory management systems are designed to reduce manual labour, by automating and streamlining processes – all of which goes hand-in-hand with growing a business. If scaling up locally or expanding internationally is on your radar, an ERP inventory management system can provide the space and freedom you need to grow.

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