What is Warehouse Management System ?
Warehouse Management System (WMS) is a software application that can be used to help control and manage the day-to-day operations in a warehouse. A perfect warehouse management system should have capabilities such as inventory received, put-away, order picking, stock locating, replenishment, packing shipping etc.
Also it should include integrated functionalities such as integration with barcode devices, labour management, slotting, parcel management, Integration with third party logistics management etc. A warehouse management system can be operated independently or as part of an Enterprise Resource Planning ( ERP ) System. A warehouse management system can reduce the errors that could occur when the entire process of shipping the products, handled manually. The system can also help a company to process the orders more quickly and to trace the ordered products within the warehouse
Modern online warehouse management software.
With Odoo Enterprise Resource Planning it is very easy to handle the operations of your warehouse. Ease of use with mobile devices which helps the user a lot in professional tasks.
Smart Double Entry Inventory System
Odoo Enterprise Resource Planning ( ERP) enables you to organize your warehouse with the smart double entry inventory system. Own the most accurate and efficient procurement system and improve all the internal processes of your warehouse. In Odoo’s double entry inventory system, there is no stock inpit or output methods. But all the operations will be recorded as the stock moves between stock locations.
Odoo enables the users to manage a single inventory or inventories in multiple warehouses. Its unique features allow full traceability of the inventory either its from supplier or to the customer.
Track with barcode
The users will be able to scan all the products using barcode scanner and the data will be updated in cloud. Wherever you are, you will be able to access the dashboards and track the orders or inventory or any product’s movement
Same as all the modules of Odoo Enterprise Resource Planning ( ERP), a fast user interface which is designed for managing inventory easily. With less effort, more works can be done.
Process of packing the orders and delivering them will be much easier than before. It can be done with or without barcode scanners. Delivery orders can be prepared based on the availabilities.
Location and Packing
In Odoo Enterprise Resource Planning ( ERP), multiple hierarchical locations such as zones, shelves, rows, etc can be used to structure your warehouse to utilize maximum space of your warehouse. Also, with a just click, you will be able to pack and assign barcode to the products , which will help to track the orders easily
Without much time or effort, receipts of the goods can be controlled. By comparing the ordered quantity and delivered from the supplier, incoming of the products can be managed properly. Simple and user-friendly interface enables the users to move the products from one location to another.
At the end of manufacturing process, there may be some quantity of scrap products. Also some products can be damaged or unable to use due to expiry. In Odoo, within a few clicks, those products can be added to scrap category . Also reports can be generated for the scrap products with cost, reason and volumes.
Sometimes, the retailer does not keep goods in their warehouse as stock, but if the customer orders for some products, those orders and shipment details to the suppliers or manufactures. The supplier directly ships the products to the customer. This method is Drop Shipping. In Odoo, once a sale order to dropship is confirmed, a RFQ will be generated, which can be confirmed to a Purchase Order.
Cross-Docking is a process of unloading the incoming products and without storing them, directly transfers to the outbound trucks or trailers. With some configurations it can be done easily in Odoo ERP
Track the movement of every product from the supplier to the customer. With a Dashboard or list view, get a complete picture about all the movements of the products and manage your warehouse efficiently from anywhere in the world
Pick – Pack – Ship
In Odoo, it is possible to design own order processing flow. It will be possible to deliver the products to the customers in single step ( Delivery Order) Or with many steps. That is Picking, Packing and Shipping
Using Odoo Enterprise Resource Planning (ERP), you will be able to manage multiple warehouses and will be able to define replenishment rules between the warehouses. Also the transfer orders between warehouses or locations can be automated
Odoo supports reordering for specifying minimum quantity of a product that should have in the system. So it will be assured that at least minimum quantity will be maintained always. So it will help for future stock forecast
LOT or Serial Number
For tracking the products or the movement of the products, LOT or Serial number system can be set in Odoo . When a Lot number is set for a product while receiving it, the same can be helpful in reporting, quality control or any other method of tracking
Multiple UOM and Barcodes
Unit of Measure is an indication about the unit which can be used to handle the product. Odoo supports for assigning multiple unit of measurements ( UOM) for products . The purchasing unit and the selling unit can be different for a single product . Barcodes are means of quick identification and a single product can have multiple barcodes.
Forecasting of inventory enables warehouses to maintain the products availability based on the demand. Considering historic sales data, purchase orders or manufacturing orders , internal moves, the system ensure that the available stock is adequate to meet the needs of the clients
Costing Methods and Inventory Valuation
Odoo warehouse management supports three methods for product costing.
- FIFO ( First In First Out),
- AVCO ( Average Cost),
- and Standard Price.
Reincorporate landed costs into your product cost to get an accurate valuation of your inventory and the inventory valuation will be always up to date. Incoming of the products and shipments will be directly posted in the accounting, that is, perpetual inventory valuation.
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