Odoo Inventory Management - Features, All Information You Need to Know

Inventory management is an important business process for goods trading business comprises wholesalers, companies, and distributors. Every aspect of business needs a robust warehouse to ensure efficiency and effectiveness in the company.

In this blog, Kanak Infosystems LLP. will discuss the several features and benefits of the Odoo Inventory management module to operate in your business.

To ensure productivity and usefulness in your business, every company requires powerful warehouse management and inventory management. It is significant as it directly affects every aspect of your business.

What is Odoo Inventory Management?

Odoo inventory management is a skillful and an updated module that any business association can utilize, irrespective of any extent. 

Odoo 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, Odoo Inventory Management caters to the needs of the manufacturing department and facilitates a multi-tasking platform to manage the inventory.

With the Odoo 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.

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Odoo Inventory management makes a worthy product to implement due to the following features:

➔ Customization

Odoo inventory permits users to formulate their product routes and automate the transactions between the warehouses and the delivery locations.

➔ Traceability

Odoo Inventory integrates with a bar code scanner system to promote the traceability of products and stock moves. The barcode's application in Odoo can be configured to intake the products at inventory and register all the movement.

It always verifies that every lot number and serial number are assigned to a particular product and warns the user not to use it for other products. Odoo inventory records and keeps a history of all warehouse strategies for 360-degree traceability.

➔ Clean and Fast

Odoo's double-entry inventory management, with flexible design and modem user interface, make Odoo a clean and fast-performing ERP.

➔ Multiple Warehouses

The module allows the users to manage multiple warehouses of the same company at various locations. Thus, the users can manage each of the product movements of the respective warehouses effectively.

You can also avail yourself of adding different warehouse locations in Odoo; if you have various warehouses, it is conveniently transferred from one warehouse to another.

➔ Reordering Rules

Inventory management enables the users to set the reordering rules on the available product. This protects the company from the problem of overstocking.

This also helps the users select a maximum and a minimum stock of count of the respective products engaged with this rule as automatic procurement can be arranged in the Odoo Inventory Management at the instance of minimum stocking rules.

➔ Advanced Reporting

The advanced reporting function allows the user to generate reports based on several parameters and strategies. For example, the filtering parameters can be changed according to the company's receipt and other data. In addition, the platform enables the user to generate bar graphs, pie charts, and line graphs on various available reports.

➔ Basic Operation Support

Odoo supports all the basic and advanced operations that take place in the warehouse. For example, it controls and manages incoming shipments, prepares inventory counts, efficient scrap management, stock transfer option, etc.

➔ Advanced Routing Odoo

Advanced routing support operations like:

Dropshipping: Consumers receive direct delivery from the supplier based on products, orders, and customers.

Cross-docking: With very little storage, the users can unload the materials that arrived, or if they wish, they can directly transfer to outbound gates.

Put away and Removal strategies: User can design their ordering process: Picking, packing, and shipping in one-step delivery order.

Push and pull routes: Users can design product routes to automate transfer orders between warehouses or locations.

Elevate your inventory management to new heights with our Odoo Inventory module. Request a demo today and discover how it can transform your business.

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Product Management Features

Product Type: Odoo helps several product types with different behaviour: physical products, digital products, services.

Custom Field: If you want to handle your business needs conveniently, you can add as many custom fields as you wish.

Multi-level Variants: You can create a matrix based on colours, sizes, attributes, etc.

Multiple Barcodes: If you wish to implement desired behaviours like a specific promotion, you have to create custom barcodes with particular codes for this.

Inventory Valuation: Inventory valuation is one of the essential characteristics of Odoo implementation management. It makes it convenient for the companies to value the unsold inventory stock when it's time to foresee their financial statements.

Inventory Valuation consists of the following important concepts:

Costing Method: The costing method is also known as the product category. It is available in three options: Odoo WMS supports FIFO, Average cost, and standard prize for product costing methods.

Landed Costs: It is the landed cost feature in Odoo that allows to include additional costs like shipment, insurance, customs duties, etc., into the price of the product. It helps to get an accurate valuation of your inventory.

Valuation Method: To maintain a proper record cost of sold-out goods, continental accounting shall be used. You can record your inventory valuation within your accounting books in two different forms: Manual or Automated.

Final Words

Odoo Inventory Management with Odoo inventory management solution, the business can accomplish high potentials and effortlessly manage their logistics, finance, and streamline their strategies simultaneously. In addition, it simplifies the process of tracking stock levels, leading to better productivity and efficiency.

With the implementation of Odoo inventory, one can be benefitted from various alternatives for any business. Odoo Inventory management conveniently ensures complete traceability from supplier to customer with the help of Odoo double entry inventory management.

We, Kanak Infosystems LLP. Delivers the topmost business and end-to-end Enterprise solutions to our prestigious customers as our main motto is to provide the latest innovations and consistency to our customers globally.

Discover how our Odoo Inventory module can streamline your inventory management processes and boost efficiency. Don't miss out on this opportunity... 

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🤖 Check out our other related Odoo Apps:

 POS Item Inventory Report

 Product Catch Weight ( Inventory)

 Inventory Barcode Scan

✅Get more information about Odoo Inventory here.