Improve Inventory Management with an Oracle ERP Integration

Introduction

B2B companies increasingly focus on just-in-time inventory management for many reasons. This is the ideal method where new inventory arrives just before products go out of stock or are needed for production. It requires a high degree of efficiency in estimates of product inventory, demand, seasonal fluctuations, and other criteria, but when done correctly, it saves money and fosters customer satisfaction.

The benefits of strong inventory management include reducing inventory obsolescence, lowering the risk of internal theft, and gaining greater flexibility by authorizing shorter production runs to free up manufacturing capabilities for emergency production. The shorter the time that inventory is held in inventory, the cheaper any storage and maintenance costs will be.

These peripheral benefits don't include the biggest benefits of just-in-time inventory, which include meeting market demand and not tying up too much capital in slow-moving inventory. The right eCommerce inventory management software can predict demand accurately using machine learning, and companies can improve inventory management with an Oracle ERP integration.

Benefits of Oracle E-Business Suite Software Applications for Inventory

Oracle eCommerce integration automates many B2B inventory management processes for increased transparency. It's easy to track inventory throughout its lifecycle, and Oracle's advanced artificial intelligence modules can manage supply chains, warehousing strategy, and orders placed on multiple sales platforms such as customer apps, websites, social media pages, and marketplace platforms like Amazon. Customers get real-time inventory updates across all sales channels. The benefits of Oracle eCommerce integration with ERP software include:

Establishing a Centralized Database for Disparate Control and Tracking Systems

• Companies can track inventory, materials, and components across multiple locations. Global track-and-trace capabilities prove invaluable when there's a quality control issue or evidence that a product doesn't meet local regulatory guidelines.

Tools to Manage Inventory Levels for Maximum Profits

• Tools to manage inventory levels proactively include RFID and barcode scanners, regularly scheduled spot checks, and an efficient system of addressing quality issues, product returns, and backorders. The more accurate inventory information is at all times, the easier it is to reorder and prevent overstocking and understocking.

Comprehensive Knowledge of Materials and Qualitative Characteristics

• Manufacturing materials and components age in place, and old materials can generate the risk of product failure or reduced product quality. Monitoring materials and using them in a timely way can prevent large warehouse losses.

Warehouse Management

• Managing warehouse operations generates many potential problem areas such as sudden increases in order sizes. Companies might decide to send the products with the longest shelf life to a VIP customer, which creates a management problem of dealing with a backlog of products that might soon expire. Other warehouse problems include not stocking sufficient inventory at one warehouse to cover its service area. Integration automation can relieve many of these problems.

Managing Multiple Warehouse Processes

• Warehouses increasingly become the clearinghouse of B2B sales and production departments. Warehouses typically connect with production departments and sales departments for many production and assembly duties. Some warehouses assemble, manufacture, repair, and refurbish products. Oracle online store integration offers a Warehouse Management Solution that optimizes and automates all these processes. [1]

Making Sense of Multi-mode Inventory

• More and more B2B eCommerce companies are expanding their operations. Wholesale companies now sell on multiple channels including retail outlets. Amazon's B2B marketplace became so popular that it launched a U.K. version in 2017 after expanding into Germany. [2] Many B2B companies similarly supply distributorships, parts departments, service depots, brick-and-mortar stores, and marketplace sales channels. Keeping accurate track of parts and components in different stages of development becomes impossible without integration and automation.

Modular Convenience

• The Oracle Inventory Management Cloud is a suite of applications designed to complement inventory management. These B2B inventory management software products include tools for managing costs, keeping inventory records in the cloud, and various financial business flows. Warehouse managers can use these tools to optimize the flow of goods, reduce overstocked items, and deliver just-in-time stock replenishment to meet market demand.

An Integrated Oracle E-Business Suite Improves Inventory Management

An integrated Oracle E-Business Suite improves inventory management by reducing administrative costs, empowering employees to make decisions, reducing fulfillment costs, and improving warehouse efficiency. The Oracle E-Business Suite offers specialty software applications for all types of B2B industries, and the system integrates seamlessly in a point-to-point integration with Oracle ERP, many types of CRM software, Oracle Commerce, and other eCommerce store software, such as Clarity eCommerce.

However, companies using other eCommerce platforms and organizations with existing software and business applications can't get the full benefit of integration unless they build a custom integration. Custom integrations allow all business applications and legacy software to feed into the Oracle system to maximize utility and communications.

Lower Costs of Integration and Development Efficiency

Clarity employs a team of expert coders who are experienced in working with Oracle eCommerce software, prebuilt connectors, and E-Business Suite applications. Clarity also has developed many coding shortcuts using our Clarity Connect integration platform, wireframes, ERP portal, and other resources that can save you money and speed up the development process of your integrated solution.

References:

[1] Top10erp.org: Oracle E-Business Suite | Inventory Management

[2] Manufacturing.net: An Update On The B2B E-Commerce Market

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