Inventory Management is the process of monitoring and controlling inventory level and ensuring adequate replenishment in order to meet customer demand. Fortuner is one of the Best Inventory management Software in Dubai UAE and determining the appropriate inventory level is crucial since inventory ties up money and affects performance. Having too much inventory reduces the working capital and impacts the company’s liquidity. On the contrary, having too little inventory leads to stock outs and missed sales which leads to less profit. It becomes clear that management attention should be focused on keeping inventory level somewhere in between, striving for increased customer satisfaction and minimum stock outs while keeping inventory costs as low as possible.
Inventory management is a critical function of every business organization especially business in the nature of production and Trading.
All business organization, especially those involved in production and trading, needs to have an effective system for managing its inventory. The performance of a firm can be significantly impacted by inventory management, which has emerged as one of the essential components of supply chain management. Monitoring and maintaining inventory levels while assuring appropriate replenishment to fulfill client demand is the process of inventory management. Since inventory costs money and has an impact on business performance, choosing the right level of inventory and controlling and maintaining is essential for all types of business. In simple words, inventory management is the procedure for procuring, handling, keeping, and utilizing a business’s Inventory (non-capitalized assets).
Inventory Management in Fortuner
Fortuner, one of the Best Inventory management Software in Dubai UAE, offers a wide range of capabilities to manage all inventory needs for various corporate structures.
Advantages of Fortuner Inventory Management Software
Precision in Order Fulfillment
You can easily keep track of the Inventory in the warehouse using Fortuner Inventory Management Software. Order fulfillment is the procedure by which a business fulfills a customer order in accordance with the conditions specified by the customer. Order fulfillment is a critical business task for many product-based businesses. An efficient order fulfillment operation requires coordinating with multiple departments within the organization and outside parties like Freight Forwarders, Courier Companies etc. Fortuner ERP often plays an essential role in managing the order fulfillment process.
Warehouse Organization
As Best Inventory Management Software in Dubai UAE, Fortuner has full-grown Warehouse Management system. You can create multiple warehouses, different Location and Multiple bins under Fortuner Inventory Management. You can also create different types of storing method like shelves, pallet, storing box etc. Future and current fulfillment plans are more effective when the warehouse is organized. Additionally, it improves product fulfillment, lowers costs, and makes better use of the warehouse for inventory control.
Improved Cash Flow
Through inventory planning and control, Fortuner Inventory Management Software assists organizations in managing cash flow opportunities. Business owners may know precisely how much inventory is needed, at what moment, and in what quantity with the help of better inventory control. This enables you free up funds to spend in other business ventures that advance the growth of your company.
Minimizes employee mishandling
The tendency of employees to use inventory items for office or personal use without sufficient documentation is restricted by inventory planning and control in Fortuner ERP Software.
Reduce the Labor Cost
Fortuner ERP Software can save labor expenses related to inventory and warehousing by employing better inventory planning and management procedures. These include the time spent for picking the material, Physical Stock verification and shifting of material etc.
The following are the important features of Fortuner ERP Software.
- Proper warehouse management, including multiple warehouse creation, multiple locations and under each ware house, different types of storing method and unlimited Bin creation
- Five dimensional view of inventory items
- Vendor Mapping for each inventory items
- Stock level control like Maximum Stock, Minimum Stock, Re-order Level etc.
- Various UOM settings and UOM mappings
- Assembling and Disassembling
- Physical Stock Adjustment
- Serial No tracking of each item.
Any effective inventory management system should make it easier for warehouse managers to monitor their product’s inventory levels. To oversee the flow of items from their supplier, they must be given complete access to their supply chain.