2.Offers abd Promotions
3.Real-time Order Status
4.Order Tracking
5.Multiple Payment Options
6.Customer Account Management
7.Integration with Thermal, RFID, and Bio-metric
8.Smart Inventory
8.Measurement wise Price list
10.Sales & Sales Return
11.Sales Quotation
12.Purchase Order
13.Purchase Return
13.User Access Control
14.Reports and Analytics
15.Inventory Optimisation
17.Demand Forecating
18.GSTR1 and HSN Summary
19.VAT Reports
20.Stock Transfer
21.Automated Reordering
22.Stock Aging Analysis
23.Multi-Warehouse & Multi-Location
24.Supplier Performance Analysis
25.E-Commerce Integration
26.Batch and Expiry
27.Serial No.tracking
28.Different Costing Methods
29.SKU for Proper Item Movement 30.Product Variable
Benefits for Your Business:
Effective Inventory Management is crucial for businesses to maintain a competitive edge, ensure customer satisfaction, and drive growth. With Renova ERP’s Inventory module, you can optimize your Inventory Management processes and reap numerous benefits.
Why Inventory Management Matters:
1. Inventory Optimization: Ensure optimal stock levels, reducing stockouts, overstocking, and waste.
2. Improved Customer Satisfaction: Meet customer demand promptly, enhancing satisfaction and loyalty.
3. Reduced Costs: Minimize inventory holding costs, storage costs, and waste.
4. Enhanced Supply Chain Visibility: Track inventory movement, enabling better supply chain planning and management
How Renova ERP's Inventory Module Can Help:
1. Real-time Inventory Tracking: Monitor inventory levels, movements, and stock levels in real-time.
2. Automated Inventory Replenishment: Automate reorder points, reducing stockouts and overstocking.
3. Inventory Forecasting: Analyze historical data and trends to predict future demand.
4. Barcode Scanning and RFID Integration: Streamline inventory tracking and management.
Frequently asked question:
It is important because:
1. It ensures the right products are available at the right time.
2. Prevents overstocking and stockouts.
3. Optimizes cash flow and reduces storage costs.
1.FIFO (First In, First Out): Oldest stock sold first.
2. LIFO (Last In, First Out): Latest stock sold first.
3. Weighted Average Cost: Average cost per unit of inventory is calculated.
These methods affect cost of goods sold (COGS) and profitability.
1.Reorder Point (ROP) system to trigger new orders.
2. Economic Order Quantity (EOQ) to determine optimal order size.
3. Inventory Management Software/ERP systems for real-time tracking.
4. Regular stock audits and demand forecasting.
Team Member:
Roselip Taylor
Lise Boyler
Nifar Titir
Robert Brown
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Contact us
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Renova Innovative Business LLP
PPA Complex
Near Polytechnic
Angadippuram
Perinthalmanna - info@renovaerp.com
- +91- 9947161190
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Mon to Sat - 10:00 to 6:00
(Sunday Closed)