Inventory is a business's largest assets. It includes components used to produce final products as well as the final products themselves.

A company's inventory must be purchased, stored and accounted for accurately to ensure there is enough product on hand to complete and ship orders on time. It's a careful balance to have just enough as having too much inventory on hand can increase costs for storage and insurance.

Manual inventory management takes a significant amount of time and work. It also leaves businesses prone to data inaccuracy and loss of data.

Integrating inventory management with ERP software into day to day business is the key to accurately managing costs and resources. Exact and Macola's foundation is built around inventory meaning that businesses can set up and track all inventory in as much detail as required for their industry. To take automation a step further, businesses can implement a Warehouse Management System to facilitate cycle counting, receiving, put away, picking and shipping.

Harvest Ventures has developed Business Automation Tools to streamline inventory capabilities even more:

• Multiple Units of Measure & Catch Weight Functionality
• Excel Tool: Vendor Item Maintenance
• Excel Tool: Value Added Cost Maintenance
• Excel Tool: Cost Updates
• Excel Tool: Item Note Maintenance

READ MORE:

• Macola Tip: How to Use Bin Master Maintenance
• Macola Tip: Balancing Invenory Stock Status with GL in Macola
• Macola Tip: Resent Inventory Allocations in Macola