Inventory management is a crucial activity for any business that wishes to maintain financial stability and optimal performance levels in its supply chain.
In order to effectively manage inventory, businesses must regularly analyze both internal and external factors that could impact inventory levels.
Inventory management must be proactive, with businesses regularly engaged in planning and review activities in order to ensure that inventory levels remain at desired levels. By engaging in these activities, businesses can avoid the negative consequences associated with overstocking or under stocking, which can ultimately harm a business's bottom line.
Inventory management will help you prevent product shortages and keep just enough inventory on hand without having too much.
It will also ensure that smarter decisions are taken about what to order and by keeping track of all the ordered products and those that you have on hand you can avoid inventory recounts just to make sure your records are accurate.
That's a time-saving process.
This blog will assist us in getting a better understanding of the CommerceCore™ Inventory Module.
Introduction to CommerceCore™ Inventory Management Module
CommerceCore™ inventory management is a skillful and an updated module that any business can utilize, irrespective of any extent.
CommerceCore™ inventory management is aimed to facilitate the process of managing and tracking stock levels, directing productivity and efficiency competently to regulate all necessary tasks. Moreover, it assists the business manage their products or assets inventory without any obstacles.
It is both an inventory application and a warehouse management system with a developed barcode scanner app. It helps business manage their products without any hindrances.
Thus, CommerceCore™ Inventory Management caters to the needs of the manufacturing department and facilitates a multi-tasking platform to manage the inventory.
With the CommerceCore™ inventory management module, you can organize many other applications like purchase, accounting, sales, manufacturing, packing, transferring, and shipping connectors.
Equipped with the most productive stocking method, it also holds the potential to enhance its inner strategies.
So, let's figure out how to put it to use.
CommerceCore™ Inventory Module: The Overview
The Overview page provides users with a high-level view of the module, allowing them to see at a glance how much stock they have on hand, what needs to be reordered, and what is currently being shipped.
The Overview page includes a number of other features, such as the ability to filter inventory by already defined filters. You can also add Custom Filters.
This makes it easy to quickly find the information that is needed, and to make informed decisions about stock levels.
This overview page gives us an idea of the many operation patterns that the module can do. We can see several types of processes in the figure above, such as Receipts, Delivery orders, and Returns.
To see additional operations like Transfers, Replenishments, or Inventory Adjustments, click on the Operations.
Let's have a look at what these different operation kinds mean.
We can see the Kanban view of the inventory overview, as well as the operation type and the number of operation kinds that need to be processed, here.
We can see that there are 3 receipts to process, 9 delivery orders to process, and 0 returns to handle.
Let's look at the Delivery order type as an example. We have 9 delivery orders to process right now. Three delivery orders are pending, 10 are late, and 1 is backordered.
By clicking the three dots on the right side of Delivery Orders, you can open further settings.
There are several View options available here, including All, Ready, and Waiting.
If you click All, you can find all of the delivery orders in one place, and if you choose Waiting, you'll receive the delivery orders that are awaiting execution. You can find Quick transfer and Planned transfer beneath New.
These are not the only accessible operation types because some of the operation types have been archived. You can go to Filter and click Archived to see the ones that have been archived.
The CommerceCore™ inventory module provides the ability to archive inventory types. This can be useful for a number of reasons.
For example, if a company is no longer using a particular type of inventory, archiving it can help to declutter the inventory module and make it easier to find the types of inventory that are currently in use.
In some cases, it may also be necessary to archive inventory types in order to comply with regulations or company policies.
Archiving can also help to improve performance by reducing the amount of data that needs to be processed. This helps businesses keep their CommerceCore™ instance organized and streamlined, making it easier to use and navigate.
You can check this by selecting the warehouse option from the Configuration menu.
Clicking configuration you'll get a new page.
Go ahead and open further by clicking on the warehouse.
Under Warehouse Configuration, you can discover segments like Shipments and Resupply.
Incoming and Outgoing shipments can be found under Shipments.
Here you can find possibilities such as receiving products immediately here. This is the incoming shipping route that we have chosen. That is, it is a one-step procedure.
Instead, you have the option of receiving products in input and subsequently stocking them. It's a two-step procedure that requires several operation steps.
If you go with the third choice, you'll get items first, then quality, and then stock. It's a three-step process with more operation steps to come.
The preconfigured operation types that are no longer needed as a result of this selection will be archived.
Options for outgoing shipments include:
The first alternative, which is a one-step process, is to deliver things directly.
The second alternative is to deliver a two-step procedure by sending products in output.
The third alternative is to pack the items, ship them to the output, and then deliver them in three stages process.
Let's see what occurs now that we've selected the third step for receiving packages and the third option for outgoing packages. The Overview page will then show a new operation type that has been created.
The overview above was shown when we chose the first choice for incoming shipment, and the overview below was given when we chose the third option.
CommerceCore™ is a comprehensive, all-in-one software solution for Shopify merchants that can be highly beneficial for any Shopify business.
The CommerceCore™ inventory module is packed with features that can streamline your inventory management process, save you time and improve your overall efficiency.
We would be happy to discuss the possibilities with you and help get your business on the right track.