Earlier versions of inventory tracking involved single-stage calculations done by hand and tracked individual items based on location. This was an inefficient practice and was almost impossible to attain true visibility across large supply chains. There was an increasing need for automated solutions that could optimize and reimagine inventory management. These solutions needed to be able to address the need for product availability but at the same time, deal with the need to minimize stock holdings and handling costs.
Technological advancements have made improved and innovative management systems possible. SBSC’s Inventory Management System is designed to provide robust inventory management capabilities in addition to a clean, customizable user experience. It automates the procurement process and facilitates tracking, managing & monitoring inventory.
Features
Request Manager
Users can submit the request via the request manager module. It provides the ability to track, monitor the status of approvals, and view available supplies.
Inventory Manager
Provides Procurement with the capability to track more detailed things like shipping information, specialized picking and restocking automatically, keeps track of product cost using a moving average if they change. Use of barcode scanners to manage inventory more quickly and accurately.
Order Manager
The Order Management portal processes vendor orders, manages returns and updates inventory with one click. The system can also be customized to automate the procurement work flow to correspond with the current business practices.
Vendor Manager
The Vendor Manager module provides procurement with full visibility into cost, compliance, risk and efficiency by managing all vendor details (status, address, contacts, incidents, ratings and contracts) from a centralized location and maximizes the vendor relationship.
Report Manager
Generates standardized and customized reports that can be used to generate business analytics, statistical and operational analysis that examines performance to provide insight and improve data driven decision making and planning.
Benefits
Accuracy of Inventory Orders
Automatically reconciles inventory and notifies procurement when stock is low which allows businesses to focus on their bottom line.
Saves Time And Money
Organizations can plan how to optimally manage their current stock levels and forecasting. Also can provide an automated and paperless process that gives greater visibility to vendors by listing the cost of supplies.
Improves Efficiency
Vendors receive orders and update through the system, resulting in the elimination of manual processes and automation of the ordering process.
Increase Customer Service Levels
Users can order, track and monitor requests and receive notification alerts that display the order status (complete, delayed, or not available).
Build Vendor Relationships
Improve vendor relationships that drive strategic benefit by managing the complete vendor lifecycle and closing the gap between IT and corporate procurement organizations.