Inventory management software enables businesses with large volumes of physical products to keep track of their products throughout various stages along the supply chain.
Below, we’ve listed some reasons why you should use Inventory with the Procurement in Precoro:
In-process inventory - you can gain insights about how many goods are in the work-in-process.
Manage employees’ goods receiving requests - create a request or approval and transfer from the store to the employee or another store.
Simple stock balance management without the need for an accountant - receive items and use this tool in a daily work process, whilst also create systematic stocktaking.
Setting up the Inventory process:
1. Firstly you must define the process and all the employees that are involved.
There are in fact two ways to use the Precoro Inventory:
Tracking stock balance,
Management of the employees’ goods receiving requests.
The Procurement manager and Warehouse manager/Storekeeper are those responsible for keeping track of the stock balance. In some cases, the Procurement manager and Warehouse manager are the same employee.
2. Turn on Receipt, Inventory and Warehouse Requests, if needed, within Configurations.
3. Designate roles for the employees within the User management tab. Receipt, Warehouse manager role is for the Warehouse manager or Storekeeper. A Purchase Order role is for the Procurement manager. Warehouse Request is for the employees.
If you want to approve all the Warehouse Requests you should add the role Warehouse Request approve for the Warehouse manager or Procurement manager, depending on your needs.
4. Next add your Warehouse within the Configurations tab. If this page is unavailable go back to step number 2.
The Warehouse should have the available locations. Only in this case (after the receipt is created) will the Warehouse balance be updated and the Stock transfer will be available to create.
Now set the Warehouse type to "All".
5. If you need to transfer items in bulk from one Warehouse to another - add one more Warehouse with type "Warehouse Requests" and set up the available locations for it.
Types of warehouses:
Receipt - refers to a warehouse that is available only for adding balance from the receipt.
Warehouse Request - means that the items transferred by the Warehouse Requests can be added to the balance for the Warehouse with the type Warehouse Request.
Here is how the warehouses work in Precoro:
Below is a list of the articles that you can share with the Procurement manager, Warehouse manager and the employees in order to help them to start working with Inventory in Precoro: