Manufacturing software is now one of the most dependable automation technologies for a variety of manufacturing companies worldwide. It automates manufacturing operations on the shop floor, including production planning, stock availability tracking, resource allocation, task delegation, and production routing. The software not only simplifies but also integrates these processes, giving manufacturers complete, real-time visibility of all procedures through a single system.
PC Soft ERP Solution Pvt Ltd, headquartered in Pune, offers truly integrated Manufacturing ERP software that helps manufacturers efficiently conduct various manufacturing operations, including inventory counting.
Let us understand what Inventory Counting To boost productivity and increase profitability, as a manufacturer, you must keep a constant inventory count of raw materials, subassemblies, parts, semi-finished goods, and finished goods. Inventory counting is a vital aspect of the inventory management system and refers to the entire process of physically verifying and counting each inventory item.
Inventory counting is crucial and performed to,
• Determine inventory management issues such as stocking mistakes, damaged goods, pending orders, stuck orders, and so on.
• Identify and resolve issues with relevant inventory management processes.
• Determine which product categories are not moving in comparison to others and develop an appropriate sales strategy.
• Control inventory procurement to avoid over-or under-stocking.
• Identify misplaced items, thefts, and so on.
• Maintain accurate inventory records for audits and valuation.
Methods used to perform inventory counting.
To keep a check on inventory, manufacturers have always conducted inventory counting. For this, manufacturers have used several traditional methods to conduct. These are
• Periodic Inventory Counting
Periodic inventory counting is a planned activity that occurs once or twice a year, depending on the policies of the enterprise. In this method, the manufacturing company closes its production unit, warehouses, and retail stores for a set period of time and counts the inventory items that are currently on its premises.
• Counting in Cycles
In contrast to periodic counting, cyclic counting is done in cycles for specific products or groups of products. Other products/categories are counted at different times and cycles. Depending on their requirements on the shop floor, each category/group is assigned a different counting cycle.
• Counting on the Spot
Ad-hoc counting, as the name implies, is done immediately after an issue with the inventory is discovered. This is an unplanned counting activity that is performed only when a situation requires it, rather than waiting for the next counting cycle.
However, these methods are mostly performed manually and are time-consuming, dangerous, and frequently inaccurate. To stay competitive, manufacturers must use smart measures to count inventory accurately and quickly. Automation is essential, and they must adopt an efficient technology to streamline workflows in order to save time and money.
Pc Soft ERP Software improves inventory counting
PC Soft, the best ERP solution provider aids manufacturers in efficiently and accurately counting their inventory. It presents a truly integrated ERP software, with its comprehensive, integrated modules that can assist manufacturers in automating the inventory counting process and reducing costs, time, and manpower.
Let’s see how it goes.
RFID and barcode integration
The truly integrated ERP solution for manufacturers is simple to integrate with bar-code and RFID systems. Personnel can use portable printers to quickly print bar code labels and apply them to goods during goods receipt. The data is then stored in the ERP’s centralised database after they are scanned with portable bar code scanners. As a result, manufacturers have a comprehensive record and count of items received and those already in stock. The best part of PC Soft’s ERP system is to eliminate manual inventory recording methods and the associated errors.
Warehouse Management
Our truly integrated ERP solution for manufacturers offers an excellent warehouse management module through which personnel can assign these items to a specific section within a warehouse and track their movement within and outside the warehouse. PC Soft’s ERP solution can track the shelf life of each material, assign storage bins based on categories (item types) and other classifications, record material details on arrival in real-time, and conduct inventory counting using cycle count or full inventory methods. During counting operations, personnel can quickly track and count items using parameters such as item type, location, and warehouse.
Lot Management
When each item has its own identity, inventory counting becomes much easier. SKU codes and lot numbers can be assigned to each item by the manufacturer. PC Soft’s ERP solution for manufacturers assigns lot numbers that include the source location, expiration dates, procurement date, and so on. Lot management can be used to identify and track perishable goods, hazardous products, and commodities with a shelf life.
With lot numbers and SKU codes provided by our PC Soft’s ERP solution for each product, personnel can easily conduct inventory counts and track each item.
Data Visibility in Real-Time
Our ERP solution for manufacturers gives the entire organisation completely, real-time data visibility. Constant inventory updates provide a clear picture of how much stock is available for production and delivery.
CONCLUSION
PC Soft ERP Solution includes a comprehensive inventory management module that facilitates manufacturing and distribution businesses to manage and count inventory quickly and accurately. To avail of our best ERP solution, call us.