Inventory is the heart of the business, it is from here all other parts of the business get sufficient energy to survive. If properly managed, the business remains healthy, otherwise always messy. Odoo inventory management is a resourceful module which can be utilized by any business organization irrespective of their size. It is designed in such a flexible manner. Odoo inventory is fully integrated with other applications, such as Purchase, Sales or Inventory. But is not limited to those processes, it is also fully integrated with our e-Commerce, Manufacturing and Repairs applications. To Access inventory and warehouse management module in your ERP, you have to install ‘Inventory Management’ app from Odoo.
Odoo inventory management makes a worthy product to use because of the following features.
Clean and Fast
Odoo Double entry inventory management, flexible design, modern user interface, mobile control and tracking mechanisms make Odoo a clean and fast performing ERP.
Basic operation support
Prepare delivery order in simple steps, control and manage incoming shipments, prepare inventory counts (cycle counts), multiple location management, barcode-based packing, efficient scrap management, stock transfer option etc. Odoo support all the basic and advanced operations takes place in a warehouse
Advanced Routing Odoo
Advanced routing support operations like
Deliver to customers straight from your supplier based on products, orders or customers.
Unload incoming material and directly transfer to outbound gates with little to no storage in between.
Put away & Removal strategies
Define your own storage and removal strategies; FIFO, nearest available zone, LIFO, etc.
Pick – Pack – Ship
Design your own order process flow. Deliver to customers in one step (delivery order) or several steps: picking, packing, and shipping.
Push & Pull Routes
Design your own product routes to automate transfer orders between warehouses or locations.
- Manage all your warehouses with the same system and define replenishment rules between warehouses.
To keep your inventory properly replenished, Odoo provides options like
→ Minimum Stock
Have proposition of purchase orders (or request for quotations) created by Odoo based on your future stock forecast.
→ Purchase Propositions
Get purchase order propositions based on supplier lead times, product demand and inventory forecasts.
Purchase raw materials or manufacture products to order. Define your own routes specific to warehouses, products, orders, etc.
→ Request for Quotations
Want to negotiate a price with suppliers every time you buy a specific product? Odoo can trigger a request for quotations automatically based on future needs.
Tracking your product inside and outside the inventory is a challenging task. But Odoo traceability features like ‘Lots Tracking’, ‘Activity Log’, ‘Serial Numbers’, ‘Perpetual valuation’ make it easier for you.
Product Management Features
→ Product Types
Odoo supports several product types that have different behavior: physical products, consumables, services, digital products.
Odoo’s kitting features allows your salesperson to sell a kit, but you will deliver a set of products.
→ Custom fields
Add as many custom fields as you want on products to handle your business needs.
→ Multi-Level Variants
Define multiple level variants in just a few clicks. Create matrix based on colors, sizes, attributes, etc.
→ Multiple units of measures
Odoo supports multiple units of measures and converts automatically for you: buy a pallet of beer, sell packs of beers.
→ Expiration Dates
Track expiration dates on products.
→ Multiple Barcodes
Create custom barcodes with specific codes to implement desired behaviors, such as a specific promotion.
The capability of Odoo BI and reporting tools are already evident in many modules. Odoo BI tools perform similar admirable jobs here in Manufacturing module by providing reports like inventory forecast, customer transaction drill won reports, perpetual inventory valuation reports etc.
If we compare Odoo Inventory with proprietary ERP Microsoft Dynamics, we can that find many features like Freight Carrier Integration, Consignee stock management, etc. are not available there. And if the comparison is between SAP and Odoo, Odoo has the advantage of features like multiple variant support, Up and Down traceability, more effective barcode support etc.
Our previous blog is also discussing about odoo inventory module and features , you can check it for info about Odoo inventory module.