Inventory Management
In any manufacturing business, Inventory management is critical in tracking stock across multiple locations thereby allowing for the production department to plan future production schedules. Efficient reporting mechanism of inventory helps you avoid the pitfalls of wrong decisions or production downtime. With BizLogika Inventory Management you are assured of efficient tracking and stock alerts along with calculating surplus, rejections and other planning metrics for your entire inventory.
BizLogika’s Multi-Stage Inventory planning can generate significant inventory reduction while simultaneously preserving or even increasing service levels.
- Reserved Stock – allows you to hold stock in reserve for a specified customer or a production process. This in turn helps you to plan your procurement and stock inventory with much more clarity and removes Human error/oversight issues that could lead to costly repercussions
- Blocked Stock – allows you to block a certain product from sale or even to a particular customer. This is especially significant in retail and medical sector where shelf life is quite a significant factor
- Safety Stock – – An important feature of BizLogika Inventory Management is safety stock, wherein you can reserve certain stock as safety stock keeping in mind procurement lead times. This would give you an alert when the threshold for safety stock is reached.
- Just-In-Time Inventory – allows you to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs
core features
Dangerous Goods tracking
Track the Storage, Consumption and Disposal of Hazardous Substances which are defined under the Restrictions on use of certain Hazardous Substances (RoHS) EU directive for the European Union. Maintain compliance with the RoHS requirements of EU, China, Japan, and California
Reserved Stock Management
Reserve stock for a confirmed sales order in inventory, so that it is readily available for the designated customer when required. Reserved stock shows up in total inventory but is not available for other customers
Blocked Stock Management
Lot number tracking, serial number tracking, shelf life management helps you identify and locate stock that might need to be blocked from sale due to government regulations or manufacturer recall.
Safety Stock Management
Define a hold threshold for products based on demand cycles, availability and lead time to initiate the procurement process
Multi Stage Inventory
Manage your inventory in stages like – Available Stock, Reserved Stock, Blocked Stock, Safety Stock, Stock in Transit etc, with location details to get a real time picture on the available to promise stock
Lot Size Management
Track product movement, create lot reports and facilitate recalls when necessary. Keep track of which customers received specific groups/batches (or shipments) of items and when they were received. The supplier’s information and date these items were purchased are also tracked. Lot tracking is a core component in achieving FDA/ ISO/ CFIA compliance.
Inventory Movement
Track inventory movement between various warehouses, transit times, QTP, lead time between GRN and warehouse receipt