Companies implement inventory control systems to streamline their internal business processes and to ensure a smooth flow of data between different functional departments like inventory, purchasing, production, accounting, etc. Various functional modules of ERP software handle their respective specialist departments. You can avail the benefits of various modules of ERP at https://dearsystems.com/resources/all-you-need-to-know-about-manufacturing-erp/.
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Some of the functional modules in ERP are as follows:
- Production planning module: The inventory control system evolved from material resource planning, which is used for the company’s production needs. ERP is a more powerful production planning software because it optimizes the use of production capacity, material resources, and spare parts using production data and sales forecasts.
- Purchasing module: This module helps to rationalize the purchase of the required raw materials. It is integrated with inventory control and production planning modules and often with supply chain management software. This module automates the process of identifying potential suppliers and evaluating suppliers. Used for automation and purchasing management.
- Sales module: This module automates the tasks of sales, customer orders, invoice generation and product delivery. It is built into the company’s eCommerce website and many vendors offer online stores as part of this module. Sale is an important area for organizations.
- Human Resources Module: This can be used as a stand-alone module. Used to integrate recruitment, payroll, training, and performance appraisal processes. This module processes employee history tracks laid-off employees and helps employees to be rehired.
Each of the above-mentioned functional modules of ERP software plays an important role. Organizations can choose to implement some or all of the modules according to their needs.