When you’re running a business, you want to know that every segment of production is running efficiently and effectively. One thing you must do is focus on inventory management. However, handling issues and completing tasks can be difficult when you have dozens of things to monitor and review. Enter SAP Business One, an inventory management system that is more than just a tool—it’s a business partner that tracks data and builds records, calculates variances, and much more.
If you want to manage inventory easily, you need SAP Business One.
Common Challenges With Inventory Management
Small and medium-sized businesses or wholesale distributors are always tackling obstacles with supply, demand, and keeping their inventory stocked. There are a plethora of unknown variables with inventory management, including:
- Poor warehouse organization
- Unknown location of items
- Unknown item availability
- Out-of-stock inventory
- Excess inventory
- Inefficient tracking methods
You may recall a time when you were handling these problems simultaneously. How much of a nightmare was that? Fortunately, those kinds of chaotic scenarios can be managed with the correct programs and software, such as SAP Business One.
How Does SAP Business One Help?
Inventory or material management isn’t something you can do by hand. You need something robust and cost-effective. SAP Business One is an incredible solution for distribution and manufacturing businesses that want to get their inventory under control. Within the program, you will find an inventory management module that can assist multiple warehouses at the same time. You can quickly manage data and then proceed with planning productions.
Because your warehouse and business will be so well managed, the cost of production and running your business will decrease. Customer satisfaction will also improve.
Key Features of SAP Business One
There are multiple ways to utilize SAP Business One. Here are some of the features that will benefit your business:
- Generate reports from gathered inventory data
- Manage stock units with pricing and measurement units
- Track stock transfers and enable consignment and drop-shipping options
- Record receipts
- Serial Number Tracking allows you to generate warranty records
- Perform cycle counts
- Globally manage prices
- Create and maintain Bills of Materials (BOMs)
- Batch and Lot Tracking enables item traceability
- Automatically generate packing lists
- Financial management, reporting, and analysis
- Sales and customer management
How to Use SAP Business One Effectively
Businesses that seek to get the most out of SAP Business One might find themselves overwhelmed by all the processes you can use. Implementing SAP Business One successfully can be difficult if you don’t understand how to use the system. Since you probably don’t want to slow down to learn the ins and outs of SAP Business One, we have some solutions to help you manage inventory more easily.
1. Enhance the Right Things
SAP Business One works best when you know which process is going to be most effective for every department. Review every single tool you have in the arsenal, from inventory management, logistic management, sales, and project management.
The SAP Business One system is capable of optimizing every aspect of your inventory practices. The system is easy to use and data is integrated real-time, so each person within your business or organization can access the information from anywhere within the network. For example, the accounting department can monitor price values and develop better budgets while the customer service department can keep up with the inventory, the prices, and use that to report to potential customers.
2. Automate Your Inventory
When you’re producing, selling, and distributing goods, staying up-to-date on stock and various stages of fulfillment is critical. Did you know that SAP Business One gives you that insight and much more? SAP Business One can give you a glimpse at the inventories of each warehouse or location in a blink. It also supports multiple management methods, such as serial, batch, or first-in-first-out (FIFO).
3. Pick and Pack
Furthermore, automation can be achieved when you use some of the optional steps, like Pick and Pack. This process allows you to select lists and pull those highlighted items out of your inventory swiftly. The Pick and Pack tool is useful for larger warehouses that have teams out collecting, handling, and shipping goods constantly.
The tool also lets you check for open sale orders, inventory transfers, production orders, and reserve invoices.
4. Cycle Counting
Did you know you can prevent below minimum cycle counts with SAP Business One? You can use the system to perform cycle counting as orders are received and sent out. This helps prevent any delays. You can set up cycle counting within SAP Business One so that the lists of new and existing inventory is updated automatically. If any items go below the minimum stock level, SAP Business One will even send out a notice to the correct personnel.
When you begin using SAP Business One, you will experience more productivity and efficiency. SAP Business One streamlines multiple processes within your business, and it also reduces the risk of delays. With reduced inventory costs and higher customer satisfaction from faster deliveries, your business will thrive.
Having trouble getting the most out of SAP Business One? Wondering how to integrate it into other tools for production and distribution? We have the solutions you need to optimize SAP Business One. Give Wisys a call at 770-955-3530 today.