What is Item Master Management?
Product Master is a record that lists critical information about an inventory item, including products, raw material, semi-finished goods and services. Manufacturers can also define Bill of Materials (BOM), to create standard consumption templates.
Item Master Management is classified into 3 Categories:
- Inventory Item
- Non-Inventory Item
All items and materials managed in the enterprise can be grouped under various headings and can go up to the ‘nth level’ of the category. Product groupings can help you analyze stocks based on brand, category etc. Our ERP supports multi-level grouping with detailed analytics based on period, location, customers, agents and sales executives.
Item Master include information such as Name of the Items, Alias, Item Description, Cost of Goods, MRP, UPC (Product Code) and Safety Stock (Reorder) Levels. You could also specify physical dimensions of products such as size and weight of the product. User defined fields allow you to add more information like Brand, Color etc. based on your business requirement.
If your products require after-sales-service, you can also define warranty period and frequency of preventive maintenance. System will help you track support and maintenance call with integrated help-desk.
Our ground-breaking business software, Accounts ERP, helps in generating the below data for an effective Item Master Management:
- Sales for each month to identify seasonal products
- Customer wise sale
- Branch wise sale
- Regionwide sale with drill down
- Agent / Exclusivities sale
Our accounting software supports BAR CODES . You can use vendor bar-codes or generate your own bar-codes from the system. These can be used for creating invoices quickly or tallying physical inventory.
System has built-in intelligence to automatically populate information from masters. When you work on the particular item, you need not insert all the specifications required except for the quantity.
Built-in stock query system helps you track:
- Pending sales orders
- Indents Received
- Purchase orders in pipe-line
- Stock at each branch/godown
- Serial Nos / Batch Nos. in stock
- Stock of other items in the same group
- Recent Purchases
- Recent Sales
No more spreadsheets for tracking product serial number, Accounts ERP also provides Serial Number Tracking, a system from which you can track the individual units of the item right from its creation or purchase, through its sale.
Accounts ERP “Item Master Management” facilitates Rate Contract , where you supply material at a fixed price to specific customers, irrespective of its fluctuating market value. You can specify a normal price and specific price for customers under rate contract. When you create a sales order or a sales invoice for these customers, ERP automatically picks the rate based on the contract, simplifying data entry and saving time. You do not have to look for the manual paperwork to know the details.
REAL-TIME CLIENT-BASED EXPERIENCE:
A business functions when supported by automated jobs that perform with minimum supervision. Well, our accounting software automates most of your routine tasks. One of our clients was struggling to have a complete view of his sales of one particular item. This critical information was needed to decide on the purchase of that item. The struggle was because he was using a manual data, finding it challenging to browse multiple excel-sheets. There were delays in decision making leading to probable losses. In Accounts ERP, he was able to group each of his company’s inventory item to its “nth” level and have a look at its sales within minutes. Every time he had to purchase an article that was needed, he had to go through the file of quotation, while in Accounts ERP, it was done on a single mouse click.
Why pay for customizing every module when you can get a versatile business software with easy to use features that help your business to grow. Contact us now.