High or low blood pressure results in the negative impact on our body, same as Overstock or the Stock out situation can lead to hypertension on the business. on the same side, Odoo Implementation that managing Replenishment Policy through Odoo ERP will relieve you from a lot of brainstorming to overcome the Overstock or stockout situation in business. It results that entrepreneurs can focus on the rest of the business activities with the hope that stocks will always be right. Let's Explore how Odoo smoothes the Inventory Replenishment management.
Empower Reordering with Minimum Stock Rule
Reordering rule works like the blessing for a product that has a high demand and high flow.
Odoo Minimum Stock rules assure that business always has the minimum quantity of a product in stock in order to manufacture your products and/or fulfill your customer orders. When the stock level of a product reaches its minimum the Odoo will automatically trigger a procurement with the quantity needed to reach the maximum stock level.
There are so many factors that an Inventory manager ensure while managing the inventory replenishment Policy. Variabilities of supplier lead times required for the ordered product, Maintenance of safety stock, Minimum/Maximum Order Level Quantities, Excess Stock Levels (Overstock), Stock Outs (Back Orders). Odoo inventory replenishment had taken the care of all the majority of such factors. All this factor are easily configurable and be used as per business requirement.
Sales even if no Stock with Make to Order Strategies
Keeping the large investment in the inventory and acquiring larger warehouse space is not rational for the products that have a limited lifespan, such as fashion, technology, or selling the product that evolves with time or trends. Make to order strategies ensure the seller not go below the breakeven line for the profit or not get clutch in the lost sale.
Odoo Make to order system will generate a Draft Purchase Order of the amount of the Sales Order respective to the product, regardless of the quantity on hand of the product.
If you want to reorder your stocks only if your sale is confirmed it is better to use the Make to Order.
Odoo excelled replenishment techniques enables an entrepreneur to implement the promotional, pricing and assortment strategies established. Not only does smoothing the Inventory replenishment enable execution of these strategies but extra profit can be gained by minimizing inventory levels and reducing lost sales.