As a manufacturer, one of your biggest challenges is often just managing inventory with purchase orders. You are basically trying to maintain a balancing act where you ensure there’s an exact amount of material and an exact amount of product to meet your customer’s demands, while also trying to keep your costs at bay.
What if you had a piece of software that does the balancing act for you? What if it can manage your purchase ordering and inventory costs, automating the entire process?
Triumph ERP’s Purchase Ordering module is intricately designed to help you, the manufacturer, to manage your purchase ordering and inventory costs with ease.
Here are 4 ways that an ERP solution simplifies your Inventory and Purchase Orders.
One of the biggest advantages of our ‘Purchase Order’ module is its ability to integrate with other Triumph modules. Offering you, the manufacturer, the ability to automate the purchase ordering process based on various triggers like when inventory reaches a pre-determined re-order level, when an out-of-stock item is ordered, or when a job quote is won.
2. Foreign Currency
When you have many overseas suppliers for parts it can get confusing raising purchase orders and calculating landing costs in a foreign currency. Triumph ERP’s purchase ordering module automatically raises purchase orders from overseas suppliers in a foreign currency with landed costs applied. This feature helps you, the manufacturer, to accurately track your costs and ensure that you are paying the right amount for the materials you’ve been supplied.
3. Customer Orders and Purchase Order Reconciliation
With Triumph ERP lets say when goods are received , you as a manufacturer can use Triumph ERP to automatically compare outstanding customer orders with the goods received. Helping you to ensure only the right products are being delivered to the right customers at exactly the right time. This is the power of a software built solely to empower your business through technology.
Additionally, you have the ability to reconcile purchase orders with creditors’ invoices, checking both quantity and price to ensure they are both accurate.
4. Identify Price Trends
Another major benefit of Triumph ERP’s Purchase Ordering module is the ability to check a complete history of your supplier’s pricing. This feature helps manufacturers to identify trends in pricing and negotiate better deals with their suppliers.
Triumph ERP’s Purchase Ordering module is a powerful tool for manufacturers looking to streamline their purchase ordering and inventory management processes. By automating many of the tasks associated with these processes, manufacturers can save time and reduce the risk of errors.
Additionally, the ability to track costs and reconcile purchase orders with invoices helps manufacturers to stay on top of their finances and ensure that they are getting the best possible deals from their suppliers.
If you are a manufacturer looking to improve your purchase ordering and inventory management processes, Triumph ERP’s Purchase Ordering module is the perfect solution. With its ability to integrate with other Triumph modules, automate purchase ordering based on various triggers, and provide valuable insights into supplier pricing, this module is a must-have for any manufacturer looking to stay ahead of the competition.