Inventory stock is a number of items stored to carry out activity processes in a company such as the purchasing process, production process and sales process. The interrelationship of these processes can influence the movement of goods, both incoming and outgoing goods. This inventory can include several types of products, ranging from raw materials, goods in progress, to finished goods. Inventory management can be said to be good if the company can meet customer demand and prevent the risk of excess stock.

TILabs, as a leading Odoo consultant and ERP implementation expert, understands these challenges well. Tilabs has developed its own ERP systems, SudoERP and SudoHR, which can be customized to meet the specific needs of businesses in addition to providing a wide range of Odoo inventory management solutions. Our expertise in implementing these solutions ensures that businesses can manage their inventory efficiently, simplify their operations and avoid common mistakes.

Companies often experience challenges and risks that occur in inventory management. Here are three common problems businesses face in inventory management and how TILabs, through Odoo, SudoERP, and SudoHR, provides effective solutions:

1. Excessive Stock Inventory

Overstock occurs when the number of goods stored exceeds requirements. This can affect the condition of the company’s operational costs which are increasingly high and the risk of damage to goods is increasingly vulnerable, especially for goods that have a limited shelf life.

The solution to this problem is that Odoo provides a Reorder Rules feature, which can be used to set minimum and maximum product procurement limits.

2. Lack of Stock Inventory

Stockouts occur when a company does not have enough stock to meet customer demand. This can hinder the company’s operational processes, such as goods being sent late, lack of customer satisfaction, and even losing customers.

The solution to this problem is that Odoo provides a Reorder Point feature. This feature can provide information to users to see the total average daily usage of the product.

3. Data Mismatch

Data errors often occur due to discrepancies between the records in the system and the physical stock in the warehouse.

The solution to this problem is that Odoo provides an Inventory Adjustment feature to make corrections if there are data errors in inventory.

Managing inventory is important to see how much expenditure and income occurs in inventory. For this reason, it is necessary to check stock and ensure that the items available in stock have been recorded correctly in the system.