Epicor Inventory Management Guide
Epicor ERP software provides an inventory management module that can help businesses efficiently manage their inventory. The inventory management module is designed to provide the ability to handle multiple types of inventory transactions, keep track of product locations, reduce manual data entry, and more.
Here are some of the key features and capabilities of the Epicor Inventory Management module:
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Multiple Inventory Methods: Epicor's inventory management module supports multiple inventory methods like LIFO (Last In, First Out), FIFO (First In, First Out), and average cost method to ensure flexibility according to business needs.
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Inventory Tracking: It offers precise tracking of inventory across multiple locations and warehouses, allowing businesses to effectively manage their stock levels.
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Automated Processes: Epicor allows for automation of processes such as order entry, purchasing, and production, which can help reduce manual effort and increase efficiency.
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Lot and Serial Tracking: Businesses that need to track their inventory by lot number or serial number can benefit from Epicor's lot and serial tracking capabilities.
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Bin Tracking: The module also supports bin tracking for better organization of warehouse space and efficient location of products.
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Inventory Replenishment: Epicor's inventory management module can suggest when to reorder products based on the current inventory level, historical sales data, and forecasted demand.
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Real-time Visibility: The software provides real-time inventory data to help businesses make informed decisions.
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Integration with other modules: The inventory management module can be seamlessly integrated with other Epicor modules like purchasing, sales, finance, and manufacturing to ensure a unified approach to resource management.
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Multi-Currency and Multi-Language Support: Epicor is equipped with multi-currency and multi-language support, allowing businesses to manage their inventory across geographies.
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Inventory Reporting: Epicor provides detailed inventory reports that can help businesses understand their stock levels, identify trends, and make data-driven decisions.
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Cycle Counting: This functionality lets businesses maintain accurate inventory levels and reduce write-offs. It allows setting up and conducting regular inventory counts based on a variety of parameters such as count frequency, ABC classification, etc.
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Material Requirements Planning (MRP): The MRP tool helps in managing raw material needs and production schedules, minimizing stock shortages, and ensuring the availability of materials for production.
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Inventory Classification: Epicor lets businesses classify their inventory using ABC analysis, which can be useful for determining which items should be given the most attention due to their value.
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Inventory Valuation: The module includes inventory valuation capabilities, providing businesses with information about the value of their current stock at any point in time.
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Advanced Demand Forecasting: Epicor offers advanced tools for predicting inventory demand based on historical data, seasonal trends, market research, and more.
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Supplier Relationship Management: This feature lets businesses manage their relationships with suppliers, track supplier performance, and improve purchasing decisions.
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Product Variant and Configuration Management: Epicor supports product variations and complex product configurations, helping businesses manage a diverse inventory with different product attributes.
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Barcode Scanning and Label Printing: Epicor’s inventory management can integrate with barcode scanning and label printing technology for easy inventory updates and tracking.
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Mobile Access: With Epicor's mobile features, businesses can access their inventory management system from anywhere, making it easier to manage inventory in real-time.
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Document Management: Epicor's integrated document management system enables businesses to store and manage important inventory-related documents, improving organization and record-keeping.
What is Epicor's Inventory Management module?
The Inventory Management module is a part of Epicor ERP software designed to streamline and automate inventory management processes. It provides precise tracking of inventory across multiple locations, supports multiple inventory methods, automates order entry, purchasing, and production, and offers a suite of other features that aid in effective inventory management.
Does Epicor support multiple inventory methods?
Yes, Epicor supports multiple inventory methods including LIFO (Last In, First Out), FIFO (First In, First Out), and average cost method.
Can I track my inventory across different locations with Epicor?
Yes, Epicor's inventory management module allows you to track your inventory across multiple locations and warehouses.
Does the Epicor Inventory Management module provide real-time visibility?
Yes, Epicor provides real-time visibility into your inventory data, allowing your business to make informed, timely decisions.
Can the Epicor Inventory Management module suggest when to reorder products?
Yes, based on your current inventory level, historical sales data, and forecasted demand, Epicor can suggest optimal times to reorder products.
Does Epicor's Inventory Management module support lot and serial tracking?
Yes, Epicor's module supports lot and serial tracking, which can be beneficial for businesses that need to track their inventory by lot number or serial number.
Can the Epicor Inventory Management module be integrated with other Epicor modules?
Yes, the inventory management module can be seamlessly integrated with other Epicor modules like purchasing, sales, finance, and manufacturing, creating a unified resource management system.
How does Epicor handle inventory replenishment?
Epicor provides an automated inventory replenishment feature. The system can suggest when it is optimal to reorder products based on factors like current inventory levels, historical sales data, and forecasted demand.
Does Epicor support multi-currency and multi-language features?
Yes, Epicor supports multi-currency and multi-language features, allowing businesses to manage their inventory across different regions and countries effectively.
Does Epicor offer mobile access for inventory management?
Yes, with Epicor's mobile features, you can access your inventory management system from anywhere, making real-time management of inventory more convenient.
