We are proud to announce that Acumatica has won the PCMag Editor’s Choice Award for Best Inventory Management Software of 2018. Winning this award, along with five others, including the SIIA CODiE Award for Best Cloud ERP Solution and Best Manufacturing Solution in 2018, make us excited for what the future has in store with Acumatica!
Acumatica’s inventory management software received an “excellent” rating in comparison to eight other systems on the market. PCMag is a trusted source when it comes to the complexities of managing inventories and supply chain processes. We want to outline some of the in-depth knowledge and analysis that the editors’ review covered to help business owners make the best decision when selecting an inventory management software for their organization.
What is Inventory Management Software?
Inventory management software goes beyond keeping track of what you hold in your warehouse or retail storeroom. It includes keeping track of what’s in your parts department, including individual parts and the combinations of those parts used to build other products and services. An inventory management system’s function is to track those warehouse items through acquisition, sales, or use processes; locate them across one or many warehouses, and price (cost) the inventory (sometimes in multiple currencies) so you know the value of items you have in stock for accounting purposes.
Why Acumatica Won Best Inventory Management Software
Inventory management is vital to business success in the retail and manufacturing industries. Designed as a Software-as-a-Service (SaaS) application, Acumatica delivers an excellent option for those needing a scalable ERP solution. PCMag describes Acumatica as “…a well-balanced app featuring modular architecture that targets ERP, general ledger accounting and inventory management. Its browser-based user experience (UX) is excellent, with a feature-rich environment accessible via an intuitive user interface (UI).”
PCMag noted that Acumatica’s inventory functionality includes “robust costing methods.” Available methods include Standard Costing, Moving Average, First-In-First-Out (FIFO) and Specific Cost Methods. A few of the other shining inventory management capabilities include:
- The ability to track items and components down to the granular level through bin locations and lot and serial numbering.
- Bit and lot numbers are easy to implement, and barcoding is available, using a USB bar code scanner or even a smartphone.
- You can transfer items in transit through a two-step process with Goods in Transit (GiT) reporting.
- Bill of Materials (BOM) provides a list of all the parts that go into the production of an item – down to the last fastener, nut, or screw.
- As part of the BOM, Acumatica also supports kitting, performed when the completion of an item produced requires the use of subassemblies that have to be preassembled before the actual object is built. These subassemblies are incorporated into the BOM.
- Report filters make customizing the output reasonably simple. You can work with our team to make up report layouts that are significantly different from the databases standard ones available.
Acumatica’s Pros According to PCMag
- Easy navigation
- The browser-based application makes it easy to use mobile devices
- Non-user based pricing easily accommodates growing company
- Excellent reporting
- Runs on various data bases
- Available in the cloud, hybrid cloud, or on-premises deployments
Acumatica’s intuitive design, enterprise scalability and flexible pricing model help make it an excellent choice as an inventory management solution.
If you’re interested in how Acumatica’s Cloud ERP Software can advance your business in 2019, the Aqurus team is passionate about smooth implementation and ongoing support. Reach out to us to find out more!