Inventory
Inventory the aspects of every company where all the final result operations are
committed. The final results of a company are the product movement and storage which
takes place in the inventory of a company. In addition, this is an area where all
the strategy management operation booths advanced, complicated and simple should
function together in a group to batting the expected results. Odoo software recognizes
the need of an effective, efficient and reliable inventory management system which
paved the way for the development of Inventory model and its additional attributes.
The Odoo inventory module interconnected with the various aspects of company operation
such as sales, purchase, point of sales, repairs, manufacturing and many more aspects
in the company operation of Odoo. This allows the Odoo platform to have an efficient
operation and would improve the productivity and the profitability of the company.
There are various feature of the Odoo inventory module which makes it stands out
among its competitors here are some of that:
Low processing time
The Odoo platform in turn has the lowest processing time in performing the operations.
The Odoo inventory with the double entry based operation and its processing times
are the best among the other ERPs
Simplifies Inventory operations
The module has a simplified approach in the basic operations of an inventory such
as shipping, delivery, product in coming, outgoing, in house product movement and
many more aspects of the inventory operations.
Removal strategies
The Odoo inventory allows the users to choose the various removal strategies such
as FIFO and LIFO which can be configured in the product removal operations on sales
and manufacturing. The operation works on the aspects of traceability operations
of the Odoo platform
Traceability
The Odoo inventory allows its users to allow lot and serial numbers which would
in turn allow the user in the in house traceability and outhouse tracking aspects
of the product sales operations.
Routing
The product movement in the Odoo inventory is based on the routes described which
are followed with no questions asked and are stuck with it. These routes can be
created customized and interpreted at various instances of the inventory operations.
Advanced routing
The platform allows the users to implement advanced routing options such as cross
docking and drop shifting. This will allow the users to strategies the various product
movement aspects in the Odoo platform.
Rule of routing
The routing operations in Odoo are performed based on the rules set in the operation.
Mainly the push and pull rules which will describe the product movements at the
time of purchase and sales. These rule based operations can be configured as per
the user requirements.
Lead times based operation
The platform allows the users to describe the leads times at various aspects of
the company operations such as. Delivery lead times, purchase lead times, manufacturing
lead time and vendor lead times. This will set the duration on which the products
can be delivered and purchased. This would ultimately lead to inventory forecasting
based on the lead times of operation available.
Replenishment
The Odoo platform will allow the users to replenish the stocks with automated options
of the reordering rules of operation. The minimal stock requirement set in product
description will trigger the reordering aspects of operation.
Product types
The inventory storage can be described and classified based on the product types
description in Odoo. The product can be classified as consumable, storage, service
and digital products.
Kits
The products can be collided to be sold in kits. These kits and the products involved
in them can be configured as per the user terminologies.
Product variants
This is another terminology of Odoo inventory operations which allows the users
to classify the products available. The products can be classified into customizable
variants and multi-level variants can also be classified.
Multiple warehouses
The Odoo inventory and warehouse management allows users to manage the operations
of the multiple company warehouses from centralised control.
Barcode integration
The Odoo platform with the benefits of external device interaction abilities will
allow the user to encode barcodes in the inventory operations.