STOCK INVENTORY MANAGEMENT

STOCK INVENTORY MANAGEMENT

Stock and inventory management are important functions in every business, industry, Government organization or other enterprises. Goods are procured either for the consumption or manufacturing processes, or providing services or for down the line business purposes. For the success and growth of a business, it is very important that all the goods procured are accounted for either through down the line business transactions, use in manufacturing or service processes or consumption. It is desirable that the inventory (procurement) of goods and use processes are reflected in the system. A robust stock system, will always have ready availability of every good, whatever be the use/consumption/business transaction rate. It will seek to replenish and maintain the stock of goods at optimum level as per the current and future needs. For example, an enterprise may procure 100 items; however half of these turnovers could be very fast and may need replacement almost every week. On the other hand, some items are needed less frequently and replacement may be desired only after a month. The stock management system should be able to incorporate all these needs.

In addition, Tally software can customize following stock and inventory management functions.

Salient Features

  • Warehouse- wise reports
  • Multiple units of measure
  • Item-wise and invoice-wise profitability
  • Multiple stock valuation
  • Stock wise summary report
  • Item batch-wise details
  • Grouping and categorization of stock items
  • Reorder levels

These are some of the frequently used customization of Tally ERP-9. However, it can address several needs as well.