What Are the Different Types of Inventory Systems?

Inventory management system is a database system used by enterprises and units for decision-making and management. The inventory management system can be widely used in wholesale, retail, and production of commercial enterprises, stores, stores, warehouses, etc., to integrate the management of goods purchase, sales, inventory, financial receipts and payments, and customer accounts. Its main functions are: warehouse management, warehouse management, collection and payment management, product information management, user information and customer information management, other income management, expenditure management, as well as various detailed account query and other functions. The inventory management system mainly It is used for inventory management. The main application types are inbound, outbound, and inquiries to establish corresponding transactions to control the quantity of goods in the best state.

The system can set the minimum inventory and

Quantitative Order Management System

The system should keep a record of the quantity of inventory and make replenishment when the quantity of inventory drops to a certain level. It is based on the principle of economic order quantity (EOQ) and order points. Whenever an item is sent from the warehouse, the outbound quantity should be recorded and the inventory balance should be compared with the order point. If the inventory balance is equal to or lower than the order point, the order should be ordered according to the EOQ of the item ^[1]

Application Advantages of Inventory Management System in Inventory Management Inventory management system is an information processing system that uses computer information processing technology to process the company's inventory in, out of, query and control. Due to its large inventory information storage capacity and efficient query and statistics functions, the inventory management system has incomparable advantages over manual inventory management in terms of inventory information, so it can better improve and improve the enterprise's inventory management level ^[2] .

Powerful storage, calculation and query capabilities of inventory information

The inventory management system uses computer database management technology to store basic information of various inventories. As long as the warehouse manager enters basic business data such as the outbound order and the inbound order, the computer will use the database's advanced query and powerful data calculation functions. The calculation and generation of detailed books and statements of various types of inventory not only saves a lot of manpower but also improves the accuracy of the calculation of the book data. At the same time, the inventory management system also provides real-time query functions and inventory warning functions. Managers can query the inventory information of various types of inventory in a timely manner and formulate a purchasing plan based on the inventory quantity to avoid the occurrence of shortage, shortage or backlog. Inventory management efficiency.

Instant sharing of inventory information and more scientific inventory control

The inventory information in the inventory management system can be integrated with the procurement management, production management and financial processing modules in the ERP system through a sharing platform to achieve timely integration and transfer of enterprise logistics, capital flow and information flow. Purchasing departments can use the inventory information and production plans transmitted from the inventory management system to formulate specific procurement plans to achieve timely procurement. The production department can log in to the sharing platform to learn about the company's inventory information in time, and issue production and purchase planning orders to maximize the use of inventory. The financial department can use the inventory information in the inventory management system to not only calculate the cost of various inventory in real time, but also perform statistical analysis on the capital occupation of various inventory.

Scientific and standardized inventory management process, optimized inventory management

Inventory management system, according to the nature of each business involved in the inventory business in actual work, usually has functions such as purchase storage, finished product delivery, material delivery, material withdrawal, sales delivery, and inventory management. Different businesses authorize different personnel and supervise and control business processing. For example, in the material return business, the production department, warehouse department, and finance department need to sign for it to take effect. It can effectively monitor and control the return business. In addition, the system also provides a comprehensive business of outbound tracking, inventory management, and availability control, so that managers can grasp the dynamic information of inventory in time, control the security of inventory, and avoid the backlog of inventory taking up funds or shortage of materials to affect production.