How ContractERP Helps Track Inventory
Inventory management for distributors and manufacturers of building materials including Division 8 and 10 can be a challenge, mainly because inventory is naturally fluid in this industry. With so many special orders (up to 75% of total orders in many cases), it can be difficult to predict what you need to keep in stock.
Since inventory is so dynamic by nature, you’ll need inventory tracking software that addresses your unique business needs. That’s where ContractERP can help.
ERP software tailored to building material suppliers
ERP (enterprise resource planning) software helps increase employee efficiency by providing a centralized platform and automating monotonous and redundant tasks. However, ERP solutions work best when they’re designed with a specific industry in mind.
Building material suppliers, including division 8 and 10, face entirely different challenges than, say, a law firm. Therefore, it only makes sense that they would need a completely different ERP solution.
Instant access to current inventory
To adequately leverage your inventory (so that it doesn’t sit there unused and unsold), you need to keep meticulous tabs on it. And since so many orders are bound to be specialized, it’s important to have instant access to a list of your current inventory without having to pick up a phone or walk to the warehouse floor.
Not only will ERP inventory management allow you to determine whether you need to make special orders, it will also aid in your customer service operations. With ContractERP, you won’t have to take a message and call a contractor back. Instead, you can look up your current inventory (and even dig deep into the details of specific projects) instantly from your computer screens. And if you’re an owner or general manager looking to delegate time-intensive tasks to other employees, ERP software can make it easy for anyone in your company to access this vital information.
Integrated project management for side-by-side comparisons and accurate scheduling
To strategically manage your inventory levels, you need access to a lot of information. With ContractERP, you can check the status of any project, helping you plan ahead and anticipate any issues before they become a problem—including insufficient inventory.
With an ERP solution it’s also easy to make adjustments on the fly to ongoing projects, without having to switch software programs or platforms to handle changes in orders, delivery, or accounting.
Special ordering and progress billing
When it comes to managing your inventory, progress billing becomes vital. Basically, progress billing allows you to order, track, and update the billing process at any step of the project. With complicated projects, it’s easy to lose track of expenses—progress billing helps makes it easier for you to collect payments on those special orders. That way you’ll be more confident in building up your inventory and more confident that you can easily make changes to orders without losing track of the billing process.
Learn more about inventory management ERP tools
Check back with our blog to learn more about our ERP solutions, read our whitepapers for more in-depth information, or watch our videos tailored to owners, general managers, and project managers.