For a supply chain or any other business that provides goods through multiple branches, it is imperative to have a robust inventory management tool in place. If this inventory management tool is coupled with an order management tool, we can safely assume at least half of the complexity of the supply chain management to reduce.
And with the increase in competition, such tools must be easy-to-use and at the same time, work efficiently. Such tools handle all aspects from POs to invoices, from stock levels to reporting, thus empowering you with the ease of running a complicated business.
Infomaze recently developed and released an orders & inventory management tool to one of our clients – a leading timber provider based in Australia.
As mentioned above, our clients are importers and wholesale dealers of timber flooring across Australia. They have quite a few retailing points all over the country. They faced the following problems –
- Stock Management – according to them, was the biggest issue. Current status of the orders made by their reselling points was difficult.
- No automation – This meant that the stock levels in the inventory and all other details pertaining to it were being maintained manually and was error-prone. Knowing the current status of the products was next to impossible.
- Over-allotment of stocks – Without an efficient system in place which would show the exact amount of stock available at any point of time that can be allotted to any retailing points, situations would arise where the same lot of a particular product is being allotted to more than one retailer.
- Under-allotment of stocks – Due to some reason, if the order from a retailer was cancelled, the stock would still be in the inventory. Chances would be that the stock would lay forgotten; when there was actually a need for the same stock for another retailer, confusion would prevail about the availability of the stock.
- Maintaining incoming & outgoing stocks – Add to the above confusion, the incoming stocks from various suppliers – you will have a recipe for a perfect disaster.
- Billing details – The only ingredient in the aforementioned disaster that is missing, is miscalculation of the amount to be paid to the suppliers or the amount to be collected from retailing points. Any mistakes in either could possibly make way to huge losses.
The confusion that ensued from the above problems made it absolutely necessary to have an automated tool which would organize all the data in a manageable and discernible approach.
The tool which we built had to be a one stop solution to all the above problems – that is, a tool which would not only manage the stock levels (Inventory Management), but provides an additional Order Management Functionality too. The clincher for us was to build such a tool and make it as user-friendly and robust as possible.
Key Features of the solution:
- Admin and Retailer logins having two separate sets of functionality.
- Retailer login allows the retailers to view the products and the stock levels and place/ reserve orders for their customers.
- Logging in as Admin would display a dashboard that would give a complete insight of stock.
- It provided an intelligent way of allocating stock to a dealer order through the on-hand stock or an incoming container or both.
- It also smartly categorized the dealer orders into reserved orders, orders that are ready to be dispatched, back orders, etc.
- It would allow the admin to manage:
- Stocks (both incoming & outgoing)
- POs to various suppliers
- Orders from all Retailers
- History of orders
- History of stock
And all this in the form of separate, clear-cut modules that cut all confusion.
- Email sent to respective supplier whenever a PO would be placed for a product supplied by that particular supplier.
- Alerts the admin when stock levels are low.
These were to just name a few. The same client now wants to have a similar solution for their carpet division as well and has ideas for various phases in the future to automate the whole process itself.
If you are in need of a similar or much more specific tool to upgrade or even revamp the way you run your business, talk to us and let us help you.