What is Inventory Management?
- Inventory Management
- Inventory Management is the process of ordering, storing, tracking, and controlling stock to ensure the right items are available in the right quantity at the right time and cost.
Inventory Management Objectives
The dual goal of inventory management is avoiding stockouts (lost sales, production stoppages) while minimising holding cost (capital tied up in stock, storage cost, obsolescence risk). Key metrics: Stock Turn Ratio, Days Inventory Outstanding (DIO), Stockout Rate, and Carrying Cost % of inventory value.
Inventory Management in ERPNext
ERPNext's Stock module manages inventory across multiple warehouses with real-time visibility. Features include: reorder level automation, batch and serial number tracking, FIFO/Moving Average valuation, quality inspection gates, and 20+ inventory reports covering stock balance, ageing, movement, and analytics.
Infonoxe Technologies specialises in ERPNext implementation and custom software for Indian businesses.
Related Terms
Implement ERPNext for Your Business
Expert ERPNext implementation, customisation, and support for Indian businesses.
