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.

 

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The function / module Inventory belongs to:

Inventory

Software solutions with function or module Inventory:

EcholoN Service Management Suite
EcholoN - holistic service management
ERP system for compounders, masterbatchers and recyclers
EPG - LFS
EPG - LFS
 
 
 
 
 
 
Warehouse management system, SAP-certified, radio data transmission, pick-by-voice
HEINZELMANN Service.Desk
Helpdesk-Software / IT-Service-Management-Software
audius:CRM+ERP for production and trade
Industry solution combines CRM and ERP in one software
Orgasoft.NET Anywhere
 
 
 
 
 
 
Online inventory manamagent: web app for working with Orgasoft.NET in the browser
Microsoft Dynamics 365
 
 
 
 
 
 
MICROSOFT DYNAMICS 365 - the next generation of CRM and ERP applications
FEPA
FEPA
 
 
 
 
 
 
ERP software for medium-sized manufacturing companies
Oktopus Pro
 
 
 
 
 
 
Centralised management of contact data, correspondence, appointments, orders, stock levels
TOPIX ERP
TOPIX ERP
 
 
 
 
 
 
A powerful ERP with integrated CRM
Show all 90 programs with Inventory