SAP Business One offers a well-developed inventory management solution. The inventory component supports processes that optimize inventory management for large and start-up businesses. It streamlines operations for businesses by managing master items and data records, among other things. Inventory management offers many additional functionalities to achieve objectives such as reducing inventory levels, lowering costs, and improving the company’s revenue.
The primary responsibility of inventory management is to manage stock already in storage, making orders and sales. SAP Business One provides inventory management for streamlining procurement processes, tracking receipts, and inventory levels in real-time. Here are a few ways SAP Business One makes inventory management easy.
Maintaining master data records for items
An inventory management system provides businesses with the ability to manage their sales, purchases, manufacturing, or keeping inventory. In SAP Business One, the item master data screen shows all the information about items. Services can also rank as items when it comes to sales. Each item entered in the system gets automatically categorized in its respective places such as warehouse, sales, production, services, accounting, and purchasing.
Using the item manager data window, you can add, search, update, and maintain all the items in the company. Explore the menu bar in SAP Business One to see all the options available. Some of the options include new activity, bill of materials related items, inventory status, business partner catalog numbers, and many others. Using master data records for items has the advantage that once you update an item and make a transaction with it, no other changes can occur for security purposes.
Management of price lists, including volume discounts and period discounts
It is possible to create custom price lists for items using the software. It allows businesses to set flexible prices for customers. The price for items gets derived from a price list linked directly to the payment terms of a business partner. The cost of each transaction for a business partner is automatically calculated based on the price list assigned to the business partner.
The initialization of SAP Business One defines the information for partners, payment terms, and pricing for customers and vendors. SAP Business One then automatically revises and modifies the collected data to ensure that the price information used in sales and purchases is always up-to-date.
Working with serial numbers and batch numbers in SAP Business ONE
The item cost is assigned to the individual serial or batch number unit and is appropriate when the item appears in a sales document once selected. Serial numbers and batch numbers help in item management. Using SAP Business One makes it easy to navigate all functions on the main menu.
These functions include managing serial and batch numbers, defining alternative items, changing the valuation method, defining business partner catalog numbers, and global updates to business partner catalog numbers. It is easy and convenient to use SAP Business One’s serial or batch valuation methods. Call for more details or visit our website.
Managing the pick and pack process
SAP Business One automates the process of creating sales orders and accounts receivable reserve invoices. The option is also a quick way of picking and pulling items from the inventory. The pick and pack is a valuable tool for managing warehouses by improving functions such as collecting, shipping, and collecting items.
The tool makes it easy to reserve invoices by the requested delivery date. It also prioritizes and presents the accumulative available quantities that are ready to be picked and shipped. The tool also provides the ability to select items from a pack list. Go to our website for more specialized services.
Reporting on inventory-related information
These reports show details about the items in the inventories and the valuation of these items. Businesses can generate a list of the products they sell and get information about the merchandise, such as the price and serial number. It creates a list of inventory postings, starts a warehouse inventory valuation, and analyzes the inventory situation.
Additionally, the system displays the inventory of items in each warehouse. SAP Business One is an affordable and intuitive way of managing and growing businesses successfully. It is available in the cloud or premises in around 27 languages. For more information, please visit our website.
Managing inventory transactions, such as goods receipts, goods issuances, inventory transfers, and initial item quantity settings
SAP Business One automates most laborious processes for inventory transactions thereby, helping companies keep track of their goods. Inventory counting also provides a clear picture of the inventory on hand. The system automatically gives an estimate upon receiving an input command. It is easy to save all manual changes by clicking copy to inventory posting.
While there is never a right time to implement massive changes in your business processes, working with Wisys has made it easier than ever. We have created Agility, a quick reliable and affordable warehouse management software that empowers your employees with the tools which will save you time and money. Give us a call today and find out how we can make your SAP Business One transformation faster, easier, and less disruptive.