{"id":29,"date":"2023-01-31T05:58:00","date_gmt":"2023-01-31T05:58:00","guid":{"rendered":"https:\/\/pythonpower.in\/index.php\/2023\/01\/31\/inventory-management-with-odoo\/"},"modified":"2023-01-31T05:58:00","modified_gmt":"2023-01-31T05:58:00","slug":"inventory-management-with-odoo","status":"publish","type":"post","link":"https:\/\/pythonpower.in\/index.php\/2023\/01\/31\/inventory-management-with-odoo\/","title":{"rendered":"Inventory Management With Odoo"},"content":{"rendered":"

 <\/p>\n

<\/a><\/div>\n

<\/p>\n

Inventory Management With Odoo<\/b><\/span><\/p>\n

Inventory is the heart of the business, it is from here all other parts of the business get sufficient
\nenergy to live. If properly managed, the business remains healthy, otherwise always messy. Odoo
\ninventory management is a resourceful module which can be utilized by any business
\norganization irrespective of their size. It is designed in such a flexible manner. Odoo inventory is
\nfully integrated with other applications, such as Purchase, Sales or Inventory. But is not limited
\nto those processes, it is also fully integrated with our e-Commerce, Manufacturing and Repairs
\napplications . To Access inventory and warehouse management module in your ERP, you have
\nto install \u2018Inventory Management\u2019 app from Odoo.<\/p>\n

<\/p>\n

Odoo inventory management makes a worthy product to use because of the following features.<\/p>\n

. <\/span>Clean and Fast<\/span><\/b><\/p>\n

Odoo Double entry inventory management, flexible design, modern user interface, mobile
\ncontrol and tracking mechanisms make Odoo a clean and fast performing ERP.<\/p>\n

. Basic operation support<\/b><\/span><\/p>\n

Prepare delivery order in simple steps, control and manage incoming shipments, prepare
\ninventory counts (cycle counts), multiple location management, barcode-based packing,
\nefficient scrap management, stock transfer option etc. Odoo support all the basic and
\nadvanced operations takes place in a warehouse.<\/p>\n

. Advanced Routing <\/span><\/b><\/p>\n

Odoo advanced routing support operations like <\/p>\n

Drop-shipping <\/b><\/span><\/p>\n

Deliver to customers straight from your supplier based on products, orders or customers.<\/p>\n

Cross-Docking <\/b><\/span><\/p>\n

Unload incoming material and directly transfer to outbound gates with little to no storage
\nin between.<\/p>\n

Put away & Removal strategies <\/b><\/span><\/p>\n

Define your own storage and removal strategies; FIFO, nearest available zone, LIFO, etc.<\/p>\n

Pick – Pack – Ship <\/b><\/span><\/p>\n

Design your own order process flow. Deliver to customers in one step (delivery order) or
\nseveral steps: picking, packing, and shipping.<\/p>\n

Push & Pull Routes <\/span><\/b><\/p>\n

Design your own product routes to automate transfer orders between warehouses or
\nlocations.<\/p>\n

Multi-Warehouses <\/b><\/span><\/p>\n

Manage all your warehouses with the same system and define replenishment rules
\nbetween warehouses.<\/p>\n

. Replenishments <\/b><\/span><\/p>\n

To keep your inventory properly replenished, Odoo provides options like<\/p>\n

Minimum Stock <\/b><\/span><\/p>\n

Have proposition of purchase orders (or request for quotations) created by Odoo based
\non your future stock forecast.<\/p>\n

Purchase Propositions <\/b><\/span><\/p>\n

Get purchase order propositions based on supplier lead times, product demand and
\ninventory forecasts.<\/p>\n

Make-to-Order <\/b><\/span><\/p>\n

Purchase raw materials or manufacture products to order. Define your own routes specific
\nto warehouses, products, orders, etc.<\/p>\n

Request for Quotations <\/b><\/span><\/p>\n

Want to negotiate a price with suppliers every time you buy a specific product? Odoo can
\ntrigger request for quotations automatically based on future needs.<\/p>\n

. Traceability<\/b><\/span><\/p>\n

Tracking your product inside and outside the inventory is a challenging task. But Odoo
\ntraceability features like \u2018Lots Tracking\u2019, \u2018Activity Log\u2019, \u2018Serial Numbers\u2019, \u2018Perpetual valuation\u2019
\nmake it easier for you.<\/p>\n

<\/p>\n

. Product Management Features<\/b><\/span> <\/p>\n

Product Types<\/b><\/span><\/p>\n

Odoo supports several product types that have different behavior: physical products,
\nconsumables, services, digital products.<\/p>\n

Kits<\/b><\/span><\/p>\n

Odoo’s kitting features allows your salesperson to sell a kit, but you will deliver a set of
\nproducts.<\/p>\n

Custom fields <\/b><\/span><\/p>\n

Add as many custom fields as you want on products to handle your business needs.<\/p>\n

Multi-Level Variants <\/b><\/span><\/p>\n

Define multiple level variants in just a few clicks. Create matrix based on colors, sizes,
\nattributes, etc.<\/p>\n

Multiple unit of measures <\/b><\/span><\/p>\n

Odoo supports multiple unit of measures and converts automatically for you: buy a pallet
\nof beer, sell packs of beers.<\/p>\n

Expiration Dates <\/b><\/span><\/p>\n

Track expiration dates on products.<\/p>\n

Multiple barcodes <\/b><\/span><\/p>\n

Create custom barcodes with specific codes to implement desired behaviors, such as a
\nspecific promotion.<\/p>\n

. <\/b><\/span>Business intelligence <\/b><\/p>\n

The capability of Odoo BI and reporting tools are already explained in many modules. Odoo
\nBI tools perform similar admirable jobs here in Manufacturing module by providing reports
\nlike inventory forecast, customer transaction drilldown reports, perpetual inventory
\nvaluation reports etc. <\/p>\n

 If we compare Odoo Inventory with proprietary ERP Microsoft Dynamics, we can that find
\nmany features like Freight Carrier Integration, Consignee stock management, etc. are not
\navailable there. And if the comparison is between SAP and Odoo, Odoo has the advantage of
\nfeatures like multiple variant support, Up and Down traceability, more effective barcode
\nsupport etc.<\/p>\n

 Before going to the detailed operations of Odoo inventory management, let\u2019s first explore
\nsome of the terms used in the modules. It will give you a better understanding about working
\nOdoo Inventory management system. <\/p>\n

<\/p>\n

Warehouse: <\/b><\/span>A warehouse in Odoo is a location where you store products. It is either a physical
\nor a virtual warehouse. It could be a store or a repository.<\/p>\n

Location: <\/b><\/span>Locations are used to structure storage zones within a warehouse. In addition to
\ninternal locations (your warehouse), Odoo has locations for suppliers, customers, inventory loss
\ncounter-parts, etc.<\/p>\n

Lots:<\/b><\/span> Lots are a batch of products identified with a unique barcode or serial number. All items of
\na lot are from the same product. (E.g. a set of 24 bottle) Usually, lots come from manufacturing
\norder batches or procurements.<\/p>\n

Serial Number: <\/b><\/span>A serial number is a unique identifier of a specific product. Technically, serial
\nnumbers are similar to having a lot of 1 unique item.<\/p>\n

Unit of Measure: <\/b><\/span>Define how the quantity of products is expressed. Meters, Pounds, Pack of 24,
\nKilograms etc. Unit of measure of the same category (ex: size) can be converted to each other\u2019s
\n(m, cm, mm) using a fixed ratio.<\/p>\n

Consumable: <\/b><\/span>A product for which you do not want to manage the inventory level (no quantity
\non hand or forecasted) but that you can receive and deliver. When this product is needed Odoo
\nsuppose that you always have enough stock.<\/p>\n

Stockable: <\/b><\/span>A product for which you want to manage the inventory level<\/p>\n

Package: <\/b><\/span>A package contains several products (identified by their serial number\/lots or not).
\nExample: a box containing knives and forks.<\/p>\n

Procurement: <\/b><\/span>A procurement is a request for a specific quantity of products to a specific location.
\nProcurement are automatically triggered by other documents: Sale orders, Minimum Stock Rules,
\nand Procurement rules. You can trigger the procurement manually. When procurements are
\ntriggered automatically, you should always pay attention for the exceptions (e.g. a product
\nshould be purchased from a vendor, but no supplier is defined).<\/p>\n

Routes: <\/b><\/span>Routes define paths the product must follow. Routes may be applicable or not,
\ndepending on the products, sales order lines, warehouse, etc. To fulfill a procurement, the system
\nwill search for rules belonging to routes that are defined in the related product\/sale order.<\/p>\n

Push Rules: <\/b><\/span>: Push rules trigger when products enter a specific location. They automatically move
\nthe product to a new location. Whether a push rule can be used depends on applicable routes.<\/p>\n

Procurement Rules or Pull Rules: <\/b><\/span>Procurement rules describe how procurements on specific
\nlocations should be fulfilled e.g.: where the product should come from (source location), whether
\nthe procurement is MTO or MTS etc.<\/p>\n

Procurement Group: <\/b><\/span>Routes and rules define inventory moves. For every rule, a document type
\nis provided: Picking, Packing, Delivery Order, Purchase Order etc. Moves are grouped within the
\nsame document type if their procurement group and locations are the same.<\/p>\n

Stock Moves: <\/b><\/span>Stock moves represent the transit of goods and materials between locations<\/p>\n

Quantity On Hand: <\/b><\/span>The quantity of a specific product that is currently in a warehouse or location.<\/p>\n

Forecasted Quantity: <\/b><\/span>The quantity of products you can sell for a specific warehouse or location.
\nIt is defined as the Quantity on Hand – Future Delivery Orders + Future incoming shipments +
\nFuture manufactured units.<\/p>\n

Reordering Rules: <\/b><\/span>It defines the conditions for Odoo to automatically trigger a request for
\nprocurement (buying at a supplier or launching a manufacturing order). It is triggered when the
\nforecasted quantity meets the minimum stock rule.<\/p>\n

Cross-Dock: <\/b><\/span>Cross-docking is a practice in the logistics of unloading materials from an incoming
\nsemi-trailer truck or railroad car and loading these materials directly into outbound trucks,
\ntrailers, or rail cars, with no storage in between. (Does not go to the stock, directly from incoming
\nto packing zone)<\/p>\n

Drop-Shipping: <\/b><\/span>move products from the vendor\/manufacturer directly to the customer (could
\nbe retailer or consumer) without going through the usual distribution channels. Products are sent
\ndirectly from the vendor to the customer, without passing through your own warehouse.
\nRemoval Strategies: the strategy to use to select which product to pick for a specific operation.
\nExample: FIFO, LIFO, FEFO.<\/p>\n

Put away Strategies: <\/b><\/span>the strategy to use to decide in which location a specific product should be
\nset when arriving somewhere. (Example: cables goes in rack 3, storage A)<\/p>\n

Scrap: <\/b><\/span>A product that is broken or outdated. Scrapping a product removes it from the stock.<\/p>\n

Product variant: <\/b><\/span>Basically, we have two methods to add a product. Product with \u201cVariant\u201d option
\nand standalone product. For example, if you want to add two products say iPhone 7 black,
\niPhone7 white, to your system. Here you may add two different products or two variants under
\na single product. Definitely later is the convenient method. To enable this feature, see the topic
\nconfigurations.<\/p>\n

<\/p>\n

<\/a><\/div>\n
<\/div>\n
<\/div>\n

<\/p>\n

<\/p>\n


<\/span><\/b><\/p>\n


<\/span><\/b><\/p>\n

<\/a><\/div>\n

<\/p>\n

<\/a><\/div>\n
<\/div>\n
<\/div>\n
<\/div>\n
<\/div>\n

<\/p>\n

<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
Locations<\/b><\/span><\/div>\n
Locations are different places in your ware house. Or these are the different sections in your
\nware house were different types of actions are done. You can add single or multiple locations.
\nA location means a space in the warehouse, a shelf, a floor, etc. A location is part of one
\nwarehouse and it is not possible to link to another warehouse. Actually all In and Out
\ntransactions are carried out and Recorded through Locations. (If you look into Purchase order,
\nyou can see Deliver to option, which essentially indicate a location)<\/div>\n
<\/div>\n
                    There are three types of location<\/div>\n
                      . Physical Location<\/b><\/span><\/div>\n
                        <\/b><\/span>These are Locations in your warehouse<\/div>\n
                      . Partner Location<\/b><\/span><\/div>\n
                        <\/b><\/span>This location not under your warehouse<\/div>\n
                       . Virtual Location<\/b><\/span><\/div>\n
                            This is a virtual location which is not available physically<\/div>\n
<\/div>\n
<\/a><\/div>\n
<\/div>\n
<\/div>\n
<\/div>\n

<\/p>\n

<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/a><\/div>\n

<\/p>\n

<\/div>\n
<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

  Inventory Management With Odoo Inventory is the heart of the business, it is from…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_joinchat":[]},"categories":[5],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/posts\/29"}],"collection":[{"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/comments?post=29"}],"version-history":[{"count":0,"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/posts\/29\/revisions"}],"wp:attachment":[{"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/media?parent=29"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/categories?post=29"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pythonpower.in\/index.php\/wp-json\/wp\/v2\/tags?post=29"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}