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What is supply chain? The facilities, functions, and activities involved in producing and delivering a product or service from suppliers to the end customers. The supply chain includes vendors, manufacturing facilities, logistics providers, internal distribution centers (such as warehouses, distributors, and wholesalers), and any other entities that are involved, up to the final customer. What is supply chain management (SCM)? Supply chain management or SCM refers to the various activities and processes to plan, coordinate, operate, control and optimize the whole supply chain system. SCM is the centralized management of the flow of goods and services and encompasses all the processes that transform row…
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Warehouse management system refers to a software system that helps to monitor and manage the day-to-day operations in a warehouse, consisting of warehousing functions, inventory functions, resource management, outbound functions, third party logistics (3PLs) and etc. This software facilitates the daily organizing, planning, directing, and controlling of available resources in the warehouse. Many warehouses do not have a WMS or warehouse management system yet still achieve very high inventory accuracy and very low outbound errors. HOW? They add more order checker, pickers, and the proper paperwork to account for the warehouse activity. This is not to say that the decision was…
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Inventory management is not all about what to order or when to order, it is about understanding business realities and making decisions that balance current demand with future needs. The goal of inventory management is to have the right products in the right place at the right time. Inventory management is procedures and processes that affect ordering, receiving, storing, tracking and accounting for all of the goods a business sell. Benefits of using inventory management software: Tracking Inventory A good system will help you keep track of incoming and outgoing inventory as well as current inventory status. Inventory management system…
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Cloud infrastructure is a term used to describe the components needed for cloud computing, which includes hardware, networking, storage and virtualization resources. Cloud-based software is a scalable and cost-effective solution for systems like enterprise resource planning (ERP), warehouse management system, production planning, logistics and transportation management system for successful launch of new projects and also improvement of existing projects. Companies are increasingly moving to cloud-based infrastructure to improve security, gain unlimited scalability and lower cost. CoreIMS cloud infrastructure is a cost-effective solution provides organizations with the control and visibility they need across their cloud infrastructures, enabling them to secure applications and provide…
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Nowadays, accounting software is an important and must have part of any organization as inventory management software for company management. Inventory management system is about knowing what you have in your warehouse and where your stock is located in real time. In the meantime, accounting software will combine all money-related functions in your organization including inventory in one place. Rather than keep everything separate, your purchase orders, sales orders, customer and vendor information, inventory count, accounts payable and receivable information are all integrated in one easy-to-access place. Accounting software, inventory management system with integration module should be a good standard…
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EDI Integration: Electronic data interchange (EDI) is a form of inter-organizational electronic exchange where one trading partner (buyer, manufacturer or vendor) establishes individual links with one or more trading partners (customer, supplier or reseller) through a computer-to-computer electronic communication. With EDI, you don’t have to think about re-creating and sending purchase orders or printing invoices. It standardizes both incoming and outgoing documents, so you don’t have to worry about it. EDI is not a new idea it was originally started in the 1960’s in the USA and consists of flat file exchange system by files (or document) with predefined format…
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Cycle count as an inventory transaction designed to ensure the accuracy and validity of inventory. Technically speaking there are two similar transactions: cycle count and physical inventory. A physical inventory is designed to count inventory ones and you could choose how to count inventory by specific item or group of items or locations, etc. In order to do that system will put items or locations on “freeze” in order to maintain an accurate count. Cycle count designed to automate the counting process and to reduce time, errors, cost and etc. System will schedule the count in advance and will make…
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CoreIMS Vault Management is a warehouse management solution designed for Precious Metal Depositories and Traders with functionality specific to Precious Metal industry based on over 15 years of experience. The system is flexible and easily customizable, making it an effective solution to support any businesses. Handling and storing gold and silver bars as well as coins can be a complicated matter. Having a software that ensures that bullion can be received, handled, and stored securely is very important for the management of precious metals. The CoreIMS vault management solution developed by CorePartners is designed to keep track of precious metals…
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Inventory traceability is the ability to track products and materials through the supply chain. Most of the manufacture companies uses some traceability system, to track products and materials through the supply chain. Inventory traceability also known as Track and Trace. Tracking an inventory is the process of tracking how much of each individual of product a business is buying or storing for resale proposes, and how much of each of those products are being sold. Accurate inventory management system is one of the top priorities for manufacture companies. While using an Inventory Tracking System, you can be assured that the…
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BI basics, Terminology and definitions Power BI is a collection of software services, apps, and connectors that work together to turn your unrelated sources of data into coherent, visually immersive, and interactive insights. Whether your data is a simple Excel spreadsheet, or a collection of cloud-based and on-premises hybrid data warehouses, Power BI lets you easily connect to your data sources, visualize (or discover) what’s important, and share that with anyone or everyone you want. Power BI can be simple and fast – capable of creating quick insights from an Excel spreadsheet or a local database. But Power BI is also robust and enterprise-grade, ready for…
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