Managing inventory can be a cumbersome task for any company. Consider a business with thousands of products across multiple locations and the effort involved with managing it all. Many companies require improved inventory management, and QuickBooks Enterprise offers advanced functionality that will help.
QuickBooks Enterprise Advanced Inventory
The Advanced Inventory module is an Enterprise integration that allows for a more seamless approach to tracking inventory. Because it’s built right into QuickBooks, there’s no new software or other interfaces that you need to learn. In addition to multi-location tracking, Advanced Inventory supports barcode scanning, FIFO inventory costing, and a wide range of functions that help with overall inventory tracking and management.
Advanced Inventory automates inventory and order management from the warehouse to your customer’s doorstep and users can leverage multi-location tracking across three main areas:
- Gain efficiencies by understanding what’s in stock or on order and where everything is located.
- Automate more business functions for greater productivity and take advantage of real-time inventory visibility
- Maintain more accurate delivery dates and efficient order fulfillment
Tracking Multiple Locations and Sites
Ideal for those that have multiple locations or sites where inventory tracking is needed, Advanced Inventory allows financial leaders to keep inventory in sync with both the overall business and customer needs. It’s worth noting that the different locations don’t need to be warehouses or even a physical location at all. Trucks, stores, or different staging areas within a single warehouse can all benefit from inventory tracking.
Other specific benefits offered by multi-location tracking include:
- Strengthened control over your full inventory lifecycle across multiple sites. (This includes the dollar value and number of units in each location)
- Increased efficiency by leveraging demand-based stock replenishment. (For example, setting specific re-order points for each location so that you know when to replenish)
- The ability to purchase or sell items for only a specific site
- Improved customer satisfaction through eliminating stock-outs and speeding deliveries
- The ability to better meet demand and reduce delays by transferring items between locations
- The option to create assemblies using parts from different sites
- Generating site-specific reports such as inventory valuation or inventory sales by site
Users can also take advantage of Automated inventory forecasting to automatically calculate which items need to be restocked; generate necessary purchase orders with one click; and see how many items are on hand, on sales orders, or on purchase orders per location. For a comprehensive view of how companies use QuickBooks Enterprise to improve their overall inventory management processes, review some product information here.
Only QuickBooks Enterprise solutions offer the Advanced Inventory module that effectively deals with situations of holding inventory across multiple locations. Other QuickBooks solutions, because they are not as robust, do not offer the same capabilities. It’s worth noting that if your needs grow to the point where they require inventory management in a more sophisticated way, it might be time to upgrade.
Have Questions? Need Help?
If you are looking to find out more about QuickBooks Enterprise and what it can do, we offer free consultation, product support, and integration assistance for both new and existing QuickBooks Enterprise software users. If you would like to have a free 30-day test drive of the latest version of Enterprise, click here and we will send you the download link or give our experts a call at 866.949.7267 and we can discuss your needs and how to help!