What is perpetual inventory?
Perpetual inventory (also known as perpetual inventory) is a tool that allows you to keep track of the stock of your business's products or resources . Unlike other inventories , a permanent inventory allows you to track this inventory dynamically and in real time .
This stock management method uses monitoring software to automatically control the entry and exit of products. This way, you can know exactly and at all times the logistical information related to the status of orders, the replenishment of new products and their exit when sold.
Thanks to technological development, permanent inventories are one of the fastest and most efficient ways to know the status of your stock , deal with unforeseen events quickly and avoid phone leads errors that could ruin the shopping experience.
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Characteristics of a perpetual inventory system
A perpetual inventory system has a number of features that make it one of the best options for controlling your business's stock . Learn about them in detail to better understand how it works.
If you need to take a few steps back, we invite you to read how to make an inventory and four useful methods to do it.It has specific software
Perpetual inventories use an administrative program called Warehouse Management Software (WMS) . This software records every movement of the merchandise: the receipt of orders, shipments and storage.
Provides complete information about the products
In the SGA of a permanent inventory you will find all the information on the main attributes of each transaction in an organized and updated manner:
Quantity of units
Size and color
Selling price of products
Transaction date
Update data automatically
Perpetual inventory is part of the universe of ERP systems for automating business processes. This particular one is connected to an order entry system that allows you to have real-time logistics information. How does it work?
Each product has an identifying barcode that can be read by scanners. Once registered, the information is already available in the inventory.
As you will discover below, having up-to-date information is very valuable for making strategic decisions , optimizing your processes and growing your sales.
The importance of stock management
Free or paid stock control is essential for the success of any business , especially if your venture is online. Just as the shipping service is a fundamental step for e-commerce logistics (or e-logistics), so is stock management.