SoftGuide > Functions / Modules Designation > Inventory
Inventory

Inventory

What is meant by Inventory?

The "inventory" is a process in which all the stocks of a company or organization are recorded, verified, and evaluated at a specific point in time. The main goal of the inventory is to create an accurate record of all existing assets, materials, or goods and to ensure that the book stocks match the actual physical stocks.

Typical functions of software in the area of "inventory" are:

  1. Inventory counting: Capturing and recording all existing items or products in the company's warehouses or facilities.

  2. Inventory reconciliation: Comparing the captured stocks with the stocks recorded in the software or company's records to identify discrepancies.

  3. Inventory valuation: Valuing the captured stocks based on various valuation methods such as FIFO (First In, First Out) or LIFO (Last In, First Out).

  4. Reporting: Generating reports on the results of the inventory, including inventory valuation, discrepancies, and recommendations for actions.

  5. Compliance: Assisting with compliance with legal requirements and accounting standards related to inventory.

  6. Security and audit trail: Logging all activities related to the inventory and ensuring a secure and audit-trail documentation.

Types of inventory:

  1. Continuous inventory: In continuous inventory, stocks are continuously monitored and counted, resulting in regular updating of inventory data.

  2. Periodic inventory: Periodic inventory is conducted at a specific point in time and captures the stocks on that particular date. It is the traditional form of inventory.

  3. Sampling inventory: Sampling inventory involves checking and counting only selected parts of the inventory, which can save time and resources but may be less accurate than a full inventory.

 

The function / module Inventory belongs to:

Inventory

Software solutions with function or module Inventory:

TextileGraphics
 
 
 
 
 
 
Merchandise management / ERP for clothing wholesalers, textile wholesalers, fashion agenci
FEPA
FEPA
 
 
 
 
 
 
ERP software for medium-sized manufacturing companies
PlanRadar
 
 
 
 
 
 
Software for documentation and communication in construction and real estate projects
EasyTec
 
 
 
 
 
 
EasyTec Software GmbH offers business solutions and IT services at the highest level,
MODUS FOODVISION
 
 
 
 
 
 
ERP solution for the food and beverage industry and the associated trade
OTEC --   ERP / PPS Software for Surface Finishing Technologies
OTEC - The powerful Software System for all Surface Finishing Techniques
Merchandise Management in Retail
PRODAT ERP
 
 
 
 
 
 
PPS ERP for manufacturing companies with focus on production control
PSIwms
PSIwms
 
 
 
 
 
 
Software to control, monitor and optimize your intralogistics
Lucanus GISMO Inventory
System for managing fixed assets of all kinds
Show all 89 programs with Inventory