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TallyPrime is a flexible inventory management software that enables businesses to manage the optimum level of inventories always. It’s so flexible that it adapts to the way you work. Not just that! The insightful reports help you manage your business better.
With TallyPrime, you can store and track inventories into multiple warehouses, quantify the stock the way you want, use multiple stock valuation methods, maintain re-order levels and much more.
Inventory management software is stock management software that helps you to track, control and manage inventories efficiently. By integrating several functions associated with inventories, inventory management software helps you to organize, record and track inventories. Inventory management software is also known as stock management software plays a vital role in managing the right level inventories at the right time, without worries of over or understocking. Thus, ensuring uninterrupted production and supply, high customer satisfaction, reduced inventory handling cost and so on.
Simplified stock management
Organize your stock by product type, brand, color, size, etc. by creating unlimited stock groups and stock categories. This being a flexible inventory management software, you can organize the stock the way you want easily.
Integrated accounting and inventory data
Based on the invoices you record; your accounts are prepared, and your inventory is updated. Thus, ensuring invoicing, accounts and inventories are always in sync with each other. Thus, saves time and effort in consolidating the information.
Multiple stock valuation
You can value your closing stock using various stock valuation methods such as FIFO, LIFO, average costing, standard costing etc. It’s so flexible that you can set different stock valuation methods for each item that suits you and also view a comparative inventories report with different stock valuation methods.
Store and track your inventory in real-time by warehouse, racks, lots, bins etc. You can create multiple warehouses to store raw materials, finished goods, components etc. at different locations such as warehouse, production floor, showrooms etc.
Record the complete cycle of manufacturing right from the receipt of raw materials till the dispatch of finished goods including the details of by-product, co-products, and scrap. You can add additional costs incurred in the process of manufacturing.
Manage inventory batch-wise and lot-wise
You can store and track inventories by lots, batches etc. along with manufacturing and expiry date management. What’s more? The powerful inventory reports such as batch summary, batch-wise ageing, etc. help you stay on top of inventories.
You can create a professional-looking invoice in seconds and customise it the way it suits your business. You can print your company logo, add or remove the invoice details using a host of invoice configuration options and track the accounts receivables easily.
Ease of handling exceptions in inventory
You have placed an order for 50 kgs of a product, and the delivery comes for 50.5 Kgs. Can I handle it? TallyPrime being a flexible inventory management software allows you to handle exceptions that you may come across while handling inventories.
Bill of materials
Define multiple bills of material (BoM) with a complete list of components, raw materials, assemblies, co-products, by-products, and scrap etc. along with the quantities required to manufacture a finished product.
Accurate inventory reports
Accurate and actionable inventory reports such as stock ageing, movement analysis, re-order level etc. help you manage optimum inventories always.
Manufacturing outsourcing and insourcing
Record, track and manage material issuance, receipts, and consumption in the process of outsourcing and insourcing manufacturing activity.
Manage stock from/far third party
Manage and track inventories sent to or received from a third party, separately from your regular stock, especially in case of outsourcing, consignment sale and similar business situations.
Complete track of cost and revenue from a specific order for all those manufacturing jobs undertaken according to customer requirements and specifications.
Online business reports
Securely access your business data anytime, anywhere using a web browser on any device.
Inventory management software is a must for all businesses that deal with inventories, irrespective of the size of the business. Here is a list of benefits of using inventory management software.
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There are various types of inventory management methods such as ABC analysis, Just in time (JIT), Fast, slow, and non-moving (FSN) etc.
The key role of inventory management is to ensure the right level of inventory at the right time and keeping the inventory handling cost low.
Using TallyPrime, you can manage invoicing, accounting, inventories, payroll, costing, accounts receivables and payables and much more
Organizing the stock, optimizing the cost, optimum inventory levels, etc. are some of the key things to manage inventory efficiently. This is something easily doable using inventory management software.