How Odoo ERP software helps warehouse and inventory
27 July, 2021 by
Navin
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Warehouse and Inventory Management System

Inventory management is a serious business function for Perfect trading businesses including e-commerce companies, wholesalers, retailers, stockists, and distributors. Open Source ERP in Odoo Software helps them to manage the retail locations, product locations and run the warehouse efficiently. Without an ERP Software solution inventory management will be facing many challenges. ERP software involves Product stock outs, Mismanagement of warehouse space, and Detectives problems leading to decreased productivity and poor customer service
Odoo is an ERP software solution development platform, and it is open-source and fills all the inventory management needs of business  Odoo ERPs advanced features like double-entry inventory, cross-docking, multi-warehouse management, drop-shipping, routing, and other features will be a perfect match for inventory management. 

Odoo inventory management system makes permits easy, the process of managing and tracking stock levels, It increases efficiency and better productivity and It gives the inventory teams to manage all the essential talks.

Odoo inventory is fully integrated ERP software that has all the applications like accounting, purchase, manufacturing, sales, and shipping that are connectors for uncomplicated inventory management.

Features Of Oddo Inventory Management System

Basic Operation Support :

Odoo support all the basic operation occurs in a warehouse. These functions include preparing to manage approaching shipments, inventory counts, barcode-based fragments, and packing management.    

Advanced Routing:

Odoo support advanced routing operations are mentioned below:
  • Dropshipping: Delivery goods directly to customers from the suppliers.
  • Put Away And Removal Strategies: Define your storage and removal strategies.
  • Pick-Pach Ship: Design every individual orders process flow. Deliver the products directly to the customers either in one step (delivery order) or several processes such as picking, packing, shipment.  
  • Cross-Docking: Unlock the materials directly from the incoming trucks or rails and transfer them to outbound gates with no storage in between. 
  • Push And Pull Routes: Designs all product routes individually to automate transfer between warehouses.  

Traceability:

There are many features in Odoo traceability. Some of the features are lots of tracking, activity log, serial number, and permanent valuation, enabling the organization to track their product inside and outside inventory. 

Replenishment:

Odoo offers several options to keep the inventory replenishment. Some of the op
  • Purchase Propositions: Get your purchase order propositions based on the demand of the product, inventory forecast, and supplier lead time.

  • Request For Quotations: Odoo activates the request for quotation automatically based on future needs. 

  • Make to order: Customers can purchase products as per their customized specifications. Define your routes to specific orders, products, and warehouses.

Product Management Features:
  • Product Types: Odoo support various product types such as services, physical products, digital consumables, and products.

  • Multi-Level Variants: Oddo supports multi-level variants, creating a matrix based on color, size, and attributes.

  • Multiple Barcode: By using Odoo ERP software, you can create multiple barcodes with specific codes to apply specific promotions and other required activities...

  • Expiration Dates: By Odoo you can also track the expiration date of the products.

How to Set up Odoo Warehouse and inventory management system?

Dashboard:

Odoo inventory management and warehouse system provide a view of all the operations in your warehouse, The dashboard gives you an overview of plenty of options like receipts, internal transfers, and orders delivery.

Odoo • A picture with a caption

Inventory>Operations>All transfers
Here in this tab, you can see the following fields:
  • Check the confirmed sales and purchase orders listed
  • Just click to view the status of each order.

Configuration of Warehouse:

Instead of having a single warehouse an organization can have multiple warehouses

Inventory>Configuration>Setting>Multi warehouse
Inventory>Configuration>setting>Product

Odoo • A picture with a caption

There are three sections under this tab:

  • Measures of unit 

  • Product variants

  • Methods of packing

Inventory>Configuration>Setting>Traceability Inventory>Configuration>Setting>Locations and Warehouse

There are varieties of fields in the location and warehouse tab:

  • Procurement: In the first Option you can select the method to reserve a product after the order is confirmed. If you want to schedule to reserve the product, select the second option.
  • Warehouses and Location level: Select the option needed for your usage level.
  • Routes: If the purchase has more than one step select advance routing.
  • Drop Shipping: It gives permission to configure different delivery options for the supplier

Location:

Location refers to the different areas in your warehouse. Here you can add multiple locations in your warehouse. All the in and out transactions are recorded by the locations. There are three types of location.

  • Physical Location: These locations will be in your warehouse
  • Parent Location: These locations will not be under the warehouse
  • Virtual Location: These locations are Unphysically

    Odoo • A picture with a caption
     
    Inventory > Configurations > Locations
    Create a location: Inventory>Configurations>Locations>Create

    Operations:

    Operation is mention as different tasks throughout the warehouse such as receipts, internal transfers, and delivery of the order 

    Inventory>Configuration>Warehouse Management>Warehouse Types>Create
      Odoo • A picture with a caption
       

      Operations:

      Operation is mention as different tasks throughout the warehouse such as receipts, internal transfers, and delivery of the order 

      Inventory>Configuration>Warehouse Management>Warehouse Types>Create
      Complete the operation details and click <Activate> and <Save> to list these operations in the dashboards.

      Routes:

      Routes are defined as different ways by which a product is purchased or sold from an organization's warehouse. You can follow the single-step process or multi-step process. They also confirm that the sale or purchase product is tracked properly. A route is a collection of purchase and push rules. Odoo can easily maintain and manage the advanced push and pull routes management.

      For example,
      • Default location management of particular product

      • Product manufacturing chains managing

      • Routes will be defined within the warehouse according to the business

               requirements like quality control and supplier returns.

      You can view routes form:

      Inventory>Configuration>Routes
      Odoo • A picture with a caption

      This field shows us how you track your product in the inventory
      Odoo • A picture with a caption
       

      Select the product option in the master data, You can either create a new product or import the products from the stored product list. The product list can be shown in a kanban view.

      Odoo • A picture with a caption
       
      Inventory>Inventory control>product>Create

      The important fields in this section are:

       Can be sold: When you mark the product and it will be listed in the sales

      Can be purchased: when you mark the product and it will be listed in the purchase

      You can even import the bulk product entries that are already there via XLS or CSV file

      Inventory>Master Data>product>Import

      Select the Excel file or CSV 
       Odoo • A picture with a caption
      You can also analyze the product. It will show the name of the products, price of the product, type of the product, forecasted quantity, and the number of products in hand.
      Odoo • A picture with a caption
       

      Products are out from the warehouse according to their expiry date. By defining the expiry date on the serial number, you will be able to manage the movement of the products, based on their expiration date.

      Product Attributes:

      Odoo • A picture with a caption
       
      Under the product variant, you can add the variants of your products:
      •  Click ( Add an Item)

      •  Add an attribute ( For example, color)

      •  Add attribute values

      Product Type:

      After creating a product, you need to configure the product type. There are three product types 

      Consumable Product:

      In this type, the stock is not managed. It means you need to deliver the goods as soon as possible you receive them. In this type of product, the stock is not maintained in the system and it is only for a short time. For consumable products, odoo will pop up a warning message in the quotation if a sufficient balance is not available in the stock. 

      Service Product:

      Service products are non-material products that are provided by an organization. In this, products are configured at the time when the organization is providing a particular service to the customers. It is suitable for businesses like consulting services, etc.

      Stackable Product:

      In this product type, you can manage all stocks. The reload of this product is generally automated by the rules established in odoo. In stackable products, Odoo ERP set up shipment transactions against a purchase order. If you pick your product type as a stackable product, then you can set trackable, reordering rules, routes, and bills of materials for the same. You can also maintain minimum stock levels by reordering the rules for stock in the odoo ERP system. In this way, the stock will not reach the minimum levels. You don’t want to set a reordering rule, Open Source Odoo ERP software will show up a warning notification in the quotation if there isn’t enough balance in the balance.  

      Reordering Rule:

      In this product type, you can manage all stocks. The reload of this product is generally automated by the rules established in odoo. In stackable products, Odoo ERP set up shipment transactions against a purchase order. If you pick your product type as a stackable product, then you can set trackable, reordering rules, routes, and bills of materials for the same. You can also maintain minimum stock levels by reordering the rules for stock in the odoo ERP system. In this way, the stock will not reach the minimum levels. You don’t want to set a reordering rule, Open Source Odoo ERP software will show up a warning notification in the quotation if there isn’t enough balance in the balance.  
      It refers to the rule of activating the purchase of the product when the stock reaches the minimum level. You can also create a custom rule to restock the inventory. 

      • Inventory  - Inventory Control - Reordering rule  - Create
      • Set a minimum and maximum quantity of the product.
      • Click on the create button to open a new window.
      • Create the name and select the product for which you want to set the reordering rules.
      • Choose the warehouse where the product should be delivered. 
      • On the minimum quality side, add the minimum numbers to which the system will activate a new order.
      • Also, add a maximum number of items that have to be shored in the maximum quality field. 
      • In quantity multiple fields you can insert the lowest number of items that are ordered.
      • The number of days to purchase communicate to the number of days for a supplier to receive the product.
      • The number of days to receive the products.
      Odoo • A picture with a caption
       

      Inventory Update:

       Odoo • A picture with a caption
      • Single Product
      • One Product Category
      • Pack of Products
      • Selected Product
      • Single lot/ serial number

      There are other fields that come under the inventory tab:

      • Vendor: You can insert vendors (suppliers) of any product.
      • Routes: The way by which the organization receives the product.
      • Tracking: You can track the mechanism by using the serial number or lot number.

      You can also update the inventory form by the following steps:

      • Inventory - Inventory Adjustment - Create

      • Click the required products and select Start Inventory

      • By clicking product quantity you can change the stock details.

      • Select Validate.

      Scarp Orders:

      A product that is outdated or broken is known as scrap. Scraping the product means to take out from the stock.

       Odoo • A picture with a caption
      The following are the steps to add the scrap products to your inventory:
      • Inventory - Inventory Control - Scrap - Create

      • Add the scarp product details and click save.

      Scheduler:

      To check the reordering rules you can run the scheduler and then take suitable actions.
      •  Scheduler - Run Scheduler
      •  Select run scheduler

      Reports:

      Odoo inventory management system offers the users easy and efficient reports to make clever decisions.
      Inventory - Reports

      Benefits of odoo ERP inventory software management system with inspire

      Our ERP team has experienced builders in customizing Odoo inventory management to give our best in inventory management solutions. Inventory professionals have developed a measurable solution with open-source ERP  platforms like Opentaps, Odoo, and Of biz for many clients across the globe.

      Our team has experience in developing an ERP system from scratch with customized features of Odoo. For easy customization to Odoo implementation, Our team gives the organization to fully automate business processes

      Conclusion:

      By using the Odoo ERP inventory management system, the organization can avoid the risk of running out of stock, improve accounting accuracy, decreases losses, and provide systematic customer service. Odoo ERP provides businesses to organize their operations.
      in ERP
      Navin
      27 July, 2021
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