the inventory avatar of tally erp 9

T A L L Y. E R P 9' s

I N V E N T O R Y Avatar

Apart from Accounting purposes,

Tally ERP 9 is also used as an

Inventory management software.

Inventory management is all about knowing the status of

goods/stock at a given point in time. It is also a way of

managing all the products that are in stock - optimizing the

overall quality, flexibility, speed, cost and ensuring that the

flow of goods is uninterrupted and fluid. This is very important

because of the vast amount of data at hand that needs to be

tracked and verified.

ANSWERS !

It is therefore important to know a few things that the

Inventory management software keeps track of, as well as

provides answers to when required, which include:

The amount of stock in the warehouse

The ordering of fresh supplies

The quantity ordered, including, what was ordered, how

much & when

Storage of stocks

The quantity of fresh stock received, when, how much and

from whom.

POSITIVE OUTCOME

Tally can streamline all of the above and give a bird’s eye-

view of the status of goods.

Some of the positive outcomes include:

Improving customer relations

Cost control during purchase

Cost control during production

Cost control for unwanted transportation

Keep track of unpredictable flow and ebb in demand and

supply

Tally ERP 9 is equipped with an Inventory capability that

makes dealing with goods of any kind, an absolute breeze.

These capabilities have been developed to cater to every

individual involved in the supply chain. The inventory

transactions are comprehensively recorded using goods

receipt notes, delivery notes, stock journals and

manufacturing journals.

INVENTORY ?

The term Inventory, can include a host of things:

Raw materials

Products that are work in progress

Purchased supplies and parts

Tools and equipment

Items in transit

FEATURES

The features of the Inventory management software are

manifold, and can be tailored to suit any kind of requirement

that can come up during a stock cycle.

Some important features include:

Groups/Categories of Stock

Stock items can be grouped and categorized effectively

depending on various parameters. Different inventory reports

can be made and overseen, to provide a complete picture.

Multi UoM Support

UoMs can be created which are user-friendly and they can be

viewed in the Multiple UoM support.

Inventory tracking across multiple warehouses

Multiple location/warehouse/bins folders can be created for

storing items and updates, thus allowing for a quick and

simple stock tracking.

Ageing Analysis

A stock ageing report can be created which gives the detailed

time-frame of goods lying unused in the warehouse. This

gives an idea of goods that remain and can be liquidated

accordingly.

Re-order Report

A Re-order report for every stock item when created, gives

complete details of minimum order quantity, the balance,

shortfall and next quantity to be ordered, helping maintain an

optimum level of stocks at all times.

Costing and Real time integration

The Tally Inventory management software's main feature

probably is the complete integration with all the functions in

real-time, saving on time spent and also on the cost.

Therefore, passing a purchase/ delivery challan, will update

the stock report immediately. The valuation of stocks is also

done automatically.

Besides this, a host of other features include

average cost valuation

last purchase cost

monthly average cost

FIFO

FIFO perpetual

LIFO annual

LIFO perpetual and

standard cost

also ensures better viewing of stock reports.

WELL IN ADVANCE

The reporting capabilities of the Inventory management

software will help you be on top of the inventory status at any

point in time. The tool will keep you prepared, and ready with

what is required, well in advance.

EXAMPLE

If a sudden delivery order for T-shirt’s of a particular size

comes up, you will not have to rummage the length & breadth

of your warehouse or make frantic calls to other branches or

even postpone the delivery if you are falling short, because

Tally ERP 9 can save all this trouble and give you the entire

picture in a matter of minutes. The

Inventory management software will keep you prepared, and

ready with what is required, well in advance.

All of this can help you streamline the process for future use,

create new and improved purchasing policies, pricing

methods, sales policies, and will overall enhance customer

service.

Tally ERP 9 can save all this trouble and give you the entire

picture in a matter of minutes. The

Inventory management software will keep you prepared, and

ready with what is required, well in advance.

All of this can help you streamline the process for future use,

create new and improved purchasing policies, pricing

methods, sales policies, and will overall enhance customer

service.

SPECIAL FEATURES

To achieve inventory streamline as described above,

Tally ERP 9 packs a set of features that include:

Stock Summary display

Stock Items display

Group Summary display

Stock Category Summary

Location / Godown Summary

Stock Query

Movement Analysis

Batch Vouchers & Batch Summary Reports

Stock Ageing Analysis

Purchase Bills Pending

Purchase Order Outstanding

Reorder Status

Stock Transfers Register

Physical Stock Register

Sales Bills Pending

Stock Cost Estimation

Sales Order Book

Sales Order Outstanding

Purchase Order Book

Statistics of Inventory Masters

Inventory management capabilities are just one aspect of

Tally ERP 9 and they help in simplifying the overall work

process. There are many other attributes of the software that

when learnt, can make the entire business work-flow easy

and smooth.