Inventory Management – BizForceOne

BFO Inventory System (Barcode Support Available) helps you to control inventory efficiently. Items are managed detail by work center, warehouse location and also logical in-transit location in terms of item unit of measure conversion. You can easily control even same item which different by variants or Item dimensions and manage the planning value (cost and price) in a matrix for advanced planning and analysis.. one of the most remarkable feature is that, with BFO inventory, information of real stock, safety stock, ordered reserved quantity is always in your hand so that you can promise to delivery in time or transfer item from nearby branches, distribution center (POS), and other warehouse locations easily. Especially, inventory figures are always online and available instantly, assisting your on-time and precise decision.

BFO SUCCESSFUL INVENTORY MANAGEMENT
Successful inventory management involves balancing the costs of inventory with the benefits of inventory. Many small business owners fail to appreciate fully the true costs of carrying inventory, which include not only direct costs of storage, insurance and taxes, but also the cost of money tied up in inventory. BFO include:

• Maintaining a wide assortment of stock — but not spreading the rapidly moving ones too thin;
• Increasing inventory turnover — but not sacrificing the service level;
• Keeping stock low — but not sacrificing service or performance.
• Obtaining lower prices by making volume purchases — but not ending up with slow-moving inventory; and
• Having an adequate inventory on hand — but not getting caught with obsolete items.

BFO Inventory gives a rough guideline by which managers can set goals and evaluate performance, it’s realized that the turnover rate varies with the function of inventory, the type of business and how the ratio is calculated (whether on sales or cost of goods sold). Average inventory turnover ratios for individual industries can be obtained from trade associations.

Key feature worksheet
Inventory Control, Multi Location, Item Transfer, Item Substitutions, Item Reference, Non Stock Item, Item Charged, Physical Counting, Item Receipt, Item Shipment, Inventory Costing, Item Barcode, Item Assembly