Perpetual Inventory Explained
What is it?
Perpetual inventory is part of effective inventory management. It is a system where all the necessary information on your goods (quantity and availability) is always up-to-date. Usually, the perpetual inventory system is connected with accounting software where orders are made and with the point of sale system (in retail). This connection to other programs gives a guarantee that the data is constantly updated.
Benefits of Implementing Perpetual Inventory System
Perpetual inventory allows you to track changes in inventory and provides real-time reports on available goods. This way you have a detailed overview of your stock for better inventory control. Generally, perpetual inventory does not need manual adjustment. It is only necessary when the physical inventory count shows different results due to breakage, loss or even theft and you have to make manual corrections in the system.
How Erply Helps Setting Up Perpetual Warehouse?
Erply inventory management software makes perpetual inventory simpler than ever before. It does not matter where the orders are coming from – sales representatives, physical stores, phone sales, email, e-commerce sites, eBay or Amazon. All the orders will go straight to Erply where the data on quantity and price is accurate.
After the order has arrived, the inventory is updated in all e-channels. Salesmen or cashiers can be sure that when they check the system the stock information is always correct.
Where to start?
Erply allows you to do all of this and more. We can get you on right track with inventory management.