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What is Inventory Management? | Start Easily with ECOUNT

To Manage Inventory Well

Transaction details should be recorded well
Inventory management can easily be done with a little help from a program to record your transaction details well.

A lot of companies manage their inventory by using Excel or with a very simple program.
They would face difficulties when it comes to sharing and checking data in real time as well as frequent data errors.
In addition, when a company manages inventory and accounting separately, there would be a need to enter the same data twice.
Even though it may be okay for one or two people to manage a company but as the company gets bigger with more transactions and more customers, you will start to face limitations.

This is a major reason why many companies are adopting inventory management systems.
Then, what is inventory management that is easy to use but accurate at the same time?
Once you're good at inputting(recording), Ecount will take care of everything.
Entering Purchase(stock in) will automatically increase the inventory, and entering Sales(stock out) will reduce the inventory.
Entering Production will reduce the quantity of raw and sub materials according to the BOM(materials statement), and increase the quantity of semi-finished products/final products.
All entered details are immediately reflected in the reports and the inventory is automatically managed.

It is not just about inventory stock balance, what comes after will also be fine.
Entering sales(stock out) automatically aggregates the sales performance and A/R to be managed by each salesperson.
Automatically calculates and shows the appropriate amount of purchasing quantity, which helps you manage the right volume of your inventory.
The recorded purchase amount also allows you to calculate the current inventory unit price and manage up to the Serial/Lot (Lot No.) and A/S stages.
To manage inventory well
Inventory quantity management
  • When you input sales, purchases, and production details, they are calculated and reflected right away in the inventory balance book.
    This can resolve issues that may not match actual and internal inventory due to missing transaction history.
  • The calculated inventory quantity is reflected in all books and reports so that you can check inventory quantity and balance in real time.
  • When entering transaction history, you can specify warehouses and locations that each stock is entering into and/or going out from, so stock balance by warehouse is automatically managed.
    You can also register unlimited number of warehouses and locationns, so you can separate your inventory according to your needs.
Inventory history check
  • There will not be a problem even if the inventory quantity is wrong.
    It is calculated based on the transaction details, and the history is easily tracked when inquiring the details that were created.
  • You can record serial number and lot number on items.
    Even if the item is of the same type, it is possible to determine when and where it was received and shipped.
Other business linkages
  • Even if you have a different person in charge, your work is immediately shared without the need to request or deliver the working material.
    This is because recorded transactions can be easily viewed at any time in a report under specific authorizations settings.
  • You can bring in the recorded sales order details to sell, purchase, and produce.
    You don't have to rewrite the same transaction details and on top of that, you can also avoid missing any other inputting work.
  • You can see progress of other departments right away, so your work is seamlessly connected.
    For example, the sales department can view purchase details and receive a sales order according to the due date.
    The purchasing department conducts the purchase order by viewing the planned production details of the production department.
Inventory quantity forecast
  • Considering the current inventory, sales, and scheduled purchases,
    one can accurately predict the quantity of orders to be placed for production and sales.
  • By setting inventory quantity criteria that must be maintained for a specific item,
    when selling, you can predict and prevent quantity changes so that it does not fall below a certain number.
Profit management
  • The recorded purchase, sales, and production details yield a company's profits.
  • By checking the amount of profit and the rate of return for each item,
    you can determine if you need to adjust the inventory quantity and the production quantity.
  • The current inventory amount is calculated accurately from the amount of purchases recorded for each item.
As long as you record your sales, purchases, and production details, you can calculate inventory quantity, manage balance details, share your work, and manage profits.
This makes it easy to manage your inventory without having to process it separately.