The Power of Real-Time Inventory Data in the Warehouse - Part 2
The importance of real-time inventory reports

In today's business world, real-time technologies are becoming increasingly important in bringing more immediate results to companies.

Whether it's real-time metrics, marketing, or communications, being able to provide more immediacy to customers and business associates helps companies make smarter decisions for the future. 

This is also true in the supply chain realm. 

Properly managing inventory is critical to the success of any warehousing and fulfillment operation, and the best way to do this is with real-time inventory management software. 

By having a handle on inventory levels at all times, companies can avoid excess inventory and stock-outs, and effectively re-order product as needed. 

Real-time inventory management is thus a key ingredient in running a successful warehouse and fulfillment operation.

The inventory management system serves as the backbone for recording overall receipts and sales of product. 

For companies that work in a brick-and-mortar environment, point of sale systems provide the technology that enables real-time updates for product sales, whereas companies that sell online will be required to integrate their online sales channels with their inventory system in order to record sales. 

There are some enterprise level systems that bring all of these functions under one “software platform roof”. 

The CommerceCore™ integrated modular solution is on of them.

The reporting feature of the CommerceCore™ Inventory module helps the users to assess efficiency and accuracy. It also helps to plan the operations systematically. 

CommerceCore Reporting

Real-time inventory management is the process of recording sales and purchases of inventory immediately through the use of a software so that your company gains a complete picture of what’s occurring with inventory, enabling your organization to react quicker to supply chain needs. 

Rather than periodically updating inventory at pre-determined intervals (usually through the use of inventory counts), real-time systems record every transaction (both purchases of new stock as well as outbound orders and all of the associated costs) in real-time.

The efficiency of the inventory has to be assessed and managed repeatedly to improve its performance. The storage of different products in huge quantities may make it difficult to manage the inventory efficiently. 

That is why we need support to generate inventory reports to review inventory management systems. 

The warehouse management capabilities of the CommerceCore™ inventory module include a comprehensive reporting system. 

This system provides users with various analytical, graphical, and descriptive reports on warehouse operations. Reports can be generated based on various measures, and users have the ability to sort data for easy access and identification. 

The reporting system is located in the Reporting tab of the Warehouse module. 

Under this tab, users will find various reporting options that they can use to generate warehouse reports.

Inventory reports

The Inventory Report menu available under the Reporting tab of the CommerceCore™ Inventory module will take you to the Inventory reports window which will give you details about all the inventory products which are available in your organization. 

This window will provide you an overview of the product stock, and also helps you to verify lot and serial number and also will perceive the on hand quantity. 

Moreover, the product moves and financial value of the stock and many more aspects can also be acquired. You can view the reports in List , Pivot and Graph view

The List view of the window is depicted below. 

You can click on any product for viewing the respective stock location. 

You are also able to apply various default as well as sorting functionalities such as Filters, Group By, Favourite and Search options and also you can export all these data into an excel sheet by clicking on the Export All button available.

When deciding how to group your inventory, it is important to consider what information you are trying to glean from your data. 

For example, if you are interested in finding out how much of a particular product is available across all warehouse locations, then grouping by product would be the best option.

On the other hand, if you are interested in finding out how much stock is available at each individual warehouse location, then grouping by warehouse location would be the better choice. 

The Pivot view of the Inventory reports window will give you an analytic report on the data and that can be easily exported to other mediums using an Excel file.

In the Graph view, you can view the reports in various measures such as Counted Quantity, Difference, Quantity, Reserved Quantity. The data analysis can be done in different views such as Bar Chart, Line Chart and Pie Chart. Moreover, you can view the report in both ascending and descending orders. 

Here also you have the Filters, Group By, Favourite and Search options.

The default Filtering options included in the window are Internal Locations, Transit Locations, Subcontracting Locations, On Hand, To Count, To Apply, Negative Stock, Reservations, Expiration Alerts, Incoming Date, My Counts.

You can group this data based on Product, Location, Lot/Serial Number, Package and Company.

You can also create custom groups by clicking on the Add Custom Group option available.

Forecasting reports

The forecasting abilities of CommerceCore™ is the most exciting feature and it will be very proficient for forecasting your business related operations. 

The Forecasted Inventory window will be very useful for predicting and forecast the product and inventory operations. It can help you schedule the warehouse personnel and other activities around the warehouse in accordance with the production plan.

Also, you can view the estimated stock at any given point in future based on historical data as well as certain patterns that might be observed. 

As we see in other windows in CommerceCore™, here also you can view and access various sorting functionalities such as Filter, Group By, Favourite and Search options. Forecasted Stock, Forecasted Receipts, Forecasted Deliveries and Date are the default filters available.

This will help you immensely in taking proactive decisions to avoid any major impact on your inventory levels.

The CommerceCore™ forecasting features are quite powerful and will definitely be a game changer in your business operations.

Inventory Valuation

The CommerceCore™ Inventory module also includes the Inventory Valuation window under its Reporting section. This window will help you to create valuation reports for further references. 

We can generate valuation reports effortlessly by applying various measures and using different filtering and grouping options. 

The window can also be viewed in both List and Kanban view.

Product movement

The CommerceCore™ system examines and track record of each product moves and product movement operations of both in the final stage and initial stage. The report generation abilities of CommerceCore™ ensures you great chances for generating reports based on these product movement operations.

The Product Moves window can be viewed in three views such as List, Kanban and Pivot view. 

Moreover, it is possible to check different moves along with the number of quantities moved each time. This can be done by selecting any of the records available. The status of the product movement is also displayed.

Using CommerceCore™ Reports to Organize Your Inventory

If you're looking for an effective inventory management system, CommerceCore™ Inventory is a great option. With its ability to track products and supplies, as well as provide an insight into the supply chain, CommerceCore™ Inventory can help your business run smoothly.

Contact us or Schedule a FREE DEMO to learn more about how CommerceCore™ Inventory can benefit your business.

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The CommerceCore™  Merchant Operating System (MOPS) refers to a type of software used by Shopify merchants to handle day-to-day online-business operations including warehouse management, multichannel product management, invoicing, payment tracking, order processing, and much more.

The Merchant Operating System also includes corporate performance management software to help with planning, budgeting, forecasting, and reporting.

The MOPS is built on the widely popular open-source ERP Odoo Enterprise Framework. 26000 apps/plugins/modules/extensions are available from an Integrated App Store.  We help our customers carefully pick and integrate apps based on their needs through our Professional Services.

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The Power of Real-Time Inventory Data in the Warehouse - Part 2
Nikola R. 6 July, 2022
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The Power Of Real-Time Inventory Data In the Warehouse - Part 1
How to set up warehouse and location in the CommerceCore™ inventory module