Inventory Management

CRM inventory management is the integration of a Customer Relationship Management (CRM) system with inventory management system. This integration allows businesses to manage their customer and inventory data in a single system.

Benefits

1. Improved customer service Businesses can access customer information and inventory levels to provide more accurate and timely responses

2. Better inventory tracking Businesses can track inventory levels in real-time to ensure they have the right products in stock

3. Enhanced sales and marketing efforts Businesses can use customer data to personalize marketing strategies and tailor product recommendations

4. Streamlined operations Businesses can automate engagement tasks and optimize their workflow

Features

1. Purchase order comparison Compares purchase orders with customer orders to provide a snapshot of fulfillment capabilities

2. Real-time inventory data Sales teams can access real-time inventory data to provide accurate product availability information to customers

3. Barcode scanning Some inventory management software supports barcode scanning to report physical sales

4. Return management Track and manage the return of sold products from customers and purchased products back to vendors

Terms and Meaning

1. Catalog - Manage Products, Services and Price books Capture all information about products and services, including serial numbers, pictures, descriptions, prices, stock numbers and more. Build a price book for each pricing strategy based on customer segments, regions, or other criteria to ensure your teams consistently present the most appropriate prices.

2. Link Price Book with Vendors Link Products, Services and Price books details to vendors for quick purchase order creation when stock is low.

3. Quickly create quotes, invoices, purchase and sales orders Templates builder allows you to build quotes, invoices, purchase and sales orders to spec, which include your company logo and addresses. Send them to customers via email in a single click, and find them in related contact or opportunity records. Approved documents automatically deduct from inventory stock and can be synchronized with other accounting software.

4. Request and track online payments You’ll always have a challenging time managing outstanding payments. Send online payment requests to customers, which reflect against their unpaid invoices. Customers can also see quotes and invoices by logging private customer portal.

5. Stock Adjustment - Adjust and Reserve Stocks

   1. Adjust Stock Modify the product stock in the CRM by increasing or decreasing its quantity to match the actual physical inventory.

   2. Reserve Stock Reserve products in stock to fulfill their availability for the sales orders and avoid being sold or delivered to others.

6. Credit, Delivery and Receipt Notes

   1. Credit Notes Issue credit notes to the customers for the refund amounts in case of product returns or not fulfilling the orders. Create credit notes from invoices and apply them toward partially paid or unpaid invoices or refunds.

   2. Delivery Notes Include delivery note documents accompanying the shipment of the goods. Delivery notes keep track of all the items delivered, making it easy to create an invoice from the sales order and automatically update the product stock.

   3. Receipt Notes Create receipt notes for purchase orders linked to the vendors and generate the bills when the orders are fulfilled. Keep track of all the items received from the vendors and automatically update the product stock.

7. Bills Bills are generated from a purchase order to initiate vendor payments; after receiving the ordered items. Payments are created from the Bills. Once the payment is completed, Bill status is automatically updated.

8. Sales and Purchase Returns

   1. Sales Returns Track and manage the return of sold products from customers. Sales Returns are easily generated from the Sales Orders and Delivery Notes linked to the customers. Stock quantities are auto updated in the Products module for every Sales Return.

   2. Purchase Returns Track and record the returns of purchased products back to vendors. Facilitates the creation of Purchase Returns for the Purchase Orders and Recipient Notes linked to the vendors. Stock quantities are auto updated in the Products module for every Purchase Return.