Inventory Management for Manufacturing Businesses

Inventory Management module in SimpleManufacturing™ manages all inventory including raw material, work-in-process (WIP), finished goods, scrap, and excess/obsolete stock. It helps manufacturing businesses maintain lean inventory, improve cash flow, and meet demand reliably.

Why Effective Inventory Management Matters

• Cost Control:
  Reduce storage, insurance, spoilage, and minimize expensive overstocking.
• Efficiency in Production:
  Ensuring right materials are available as needed prevents downtime.
• Cash Flow Optimization:
  Less capital tied up in unused inventory. :contentReference
• Customer Satisfaction:
  Having finished goods ready when customers expect them. :contentReference
• Supply Chain Coordination & Demand Forecasting:
  Real-time data supports better decisions.
• Compliance and Traceability:
  Lot codes, Serial numbers, Date Codes, Shelf Life and Expiration Dates for regulated industries.

Inventory Management Features

• Multiple Inventory Locations:
  Raw material, WIP, Finished Goods, Scrap, Excess & Obsolete.
• FIFO (First-In First-Out) Inventory:
  Facilitates Actual costing, with standard, last, or average cost options.
• Automated Transactions:
  Material Work Order Issues, Transfers, Excess, Attrition, Restocking
• Complete Transaction History:
  Receipts, Consumption, Transfers, Adjustments.
• Manual Transaction Ability:
  Material Adjustments Inventory Location Transfers, with full audit trail.
• Unique identification:
  Date codes, Lot codes, Expiration dates, Shelf Life, Serial Numbers.
• Cycle Counting Option:
  Auditing process for high-risk or critical inventory items.
• Real-time reports and dashboard views showing on-hand vs committed, alerts & notifications.