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Odoo Inventory Management Systems Software

What is Inventory Management?        Benefits    Features    Challenges    Success

What is Odoo Inventory Management?


Odoo Inventory Management provides a single, real-time view of inventory across all sales channels — warehouses, retail stores, pop-up shops, drop shippers, 3PLs or any other place where you manage or stock inventory — allowing businesses to reduce inventory on hand to free up cash while avoiding stockouts. By optimizing inventory levels and ensuring product availability across multiple channels, Odoo Inventory Management helps businesses keep inventory costs low while exceeding customer expectations.

Reduce handling costs, optimize cash flow


Automate Inventory Tracking

Relying on spreadsheets or pen and paper to track inventory is neither efficient nor accurate. With Odoo, your business can easily track inventory across multiple locations by automating inventory management in one unified solution.

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Optimize Inventory Levels. Demand-based planning using historical demand, sales forecasts and seasonality ensures you have the right amount of stock. 

Boost Profitability. Managing inventory is more efficient and cost-effective with company-wide inventory visibility. 

Decrease Cost of Goods Sold. Intelligent fulfillment minimizes handling expenses and reduces shipping costs.

Odoo Inventory Management Benefits

Odoo Inventory Management Features

Odoo Inventory Management minimizes manual processes by automatically tracking inventory levels, orders and sales throughout the inventory life cycle, and provides the insights needed to make data-driven decisions and clear visibility into any inventory liabilities, like excess or slow-moving stock.

Multi-location Fulfillment

Odoo Inventory Management gives you the ability to predefine fulfillment rules to eliminate multiple shipments for a single order and avoid excess shipping charges. With visibility into stock across all locations, you can proactively monitor stock levels and sell through, transferring inventory between locations as necessary to ensure inventory availability and minimize obsolete inventory. Sales associates are empowered to save potential lost sales in out-of-stock situations with enterprise-wide inventory availability that allows them to transfer, hold or ship items directly to the customer.

Replenishment

Fluctuations in demand, seasonality, supply chain logistics and a product’s natural life cycle must be accounted for to ensure sufficient stock on hand. Using demand-based replenishment, Odoo Inventory Management uses historical and seasonal sales data, average lead time and number of inventory days’ of supply to dynamically manage item reorder points and maintain preferred stock levels. Odoo automatically generates tasks and alerts and sends them to the purchasing manager.

Cycle Counting

Odoo Smart Count is an inventory cycle counting solution that enables organizations to improve the efficiency and accuracy of inventory management by automating inventory counts without freezing transactions in the entire location. The inventory level used for the count is taken at the time the count starts for each individual item. Smart Count keeps track of transactions that happen for the items being counted, and if there is any activity during the count, Odoo automatically alerts counters so they can react appropriately. Preferences allow administrators to choose what happens if the on-hand quantity changes for an item during the count process. The entire cycle counting process can be done on a mobile device, saving time and increasing accuracy.

Traceability

Odoo Inventory Management lets you back and forward trace inventory using lot and serial tracing. Lot-numbered items track the quantity and specific cost for each lot as products are purchased and produced. Serializing inventory allows you to choose a specific item when you fulfill an order. Together, lot and serial numbers let you define fulfillment strategies (such as first expiring, first out) , minimizing waste and ensuring inventory is used in the most efficient way. Bin management and defining your merchandise hierarchy also help with traceability. Matrix items track products by options such as size and color. Updates made to the parent item are automatically applied to sub-items, greatly simplifying SKU management.

Item Visibility

The Item 360 Dashboard brings together all relevant information related to an item in a single, centralized location. By putting all the information a user could need on any item in one place inventory planning and management become easier to do. Item 360 goes beyond the basics to show information like user-selected KPls, inventory count by location and projected stock levels, with alerts for anticipated shortages or overstocks.

Manual Reporting. Inaccurate, time-consuming inventory reporting will be a problem of the past.

 Inefficient Utilization. No longer​ worry about having excess inventory in one location while another location is out of stock. 

Inaccurate Planning. Minimize the problems that result from poor planning, like stockouts, excess inventory, increased discounting and write-offs.

Excessive Handling. Eliminate unnecessary handling that increases cost of goods sold (COGS). Lack of Visibility. Inability to track and trace a product from supplier to customer order will no longer be a concern.

 

Challenges Odoo Inventory Management Solves


Odoo – Your proven path to success

Leveraging more than 25 years of experience working with tens of thousands of organizations, across all industries and business sizes, our  customer lifecycle methodology helps customers transform their business. It starts by building an AI-powered, integrated business suite with industry-specific solutions. Then we engage with your business to ensure that we’re addressing your specific needs and guiding you along the way on how to best consume and optimize Odoo to solve challenges of today and the future. This approach helps ensure customers experience faster time-to-value, better ROI, and greater employee adoption.

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