Inventory management is important for organizations as it helps in managing the stock and inventory. Inventory management is an important part of the supply chain management system involving the controlling of inventory, storage and controlling the amount of product.
Inventory management helps the company to manage cash flows, manage the production and raw materials and examine the quantity of output which needs to be supplied to the consumer.
Holostik provides a robust and effective inventory management system. The company not just provides anti-duplication solutions but also caters customized IT-enabled supply chain management solutions. Holostik provides a customized inventory management solution after understanding the requirements of clients. Experts from Holostik conduct many brainstorming sessions with the client to develop a robust inventory management system for the client.
Let’s understand the process of an inventory management system which takes place under various steps:
- The inventory management system starts right from the raw material stage to the final finished product stage. With the help of an inventory management system, a manufacturer in real time can easily know the quantity of raw material converted into the product on the production floor.
- The inventory management process starts from the raw material stage to the final stage where we get the finished product. The inventory management helps to assess the quantity of raw material which is converted into a product on the production floor.
- The management can also determine the amount of final product which goes from the production floor to the warehouse and then to the distribution channel.
- The outreach of the system extends up to the retailer. The system helps the management in determining the inventory of the system at a different stage of the supply chain
- One of the main benefits of an inventory management system is that the inventory management system provides improved decision making. With the help of an inventory management system, the company owner can monitor and manage the complete production and distribution process with ease.