STREAMLINE INVENTORY MANAGEMENT WITH MYOB ADVANCED INVENTORY MANAGEMENT FEATURES

Discover how you can improve stock control, lower holding costs and minimise waste with MYOB Advanced inventory management features.

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5 MYOB ADVANCED INVENTORY MANAGEMENT FEATURES THAT CAN ADDRESS INVENTORY CHALLENGES

INVENTORY VALUATION

Many businesses face challenges when determining a value for their inventory, which can also impact the prices of products. By leveraging MYOB Advanced inventory management features, you can use different valuation methods to calculate the value of your inventory accurately, which helps in generating accurate financial reporting and managing the cost of goods sold (COGS).

MANAGING INVENTORY IN MULTIPLE LOCATIONS

Managing inventory can be a hassle if you have subsidiaries/branches in different geographical locations. MYOB Advanced offers various features that allow you to monitor inventory levels across multiple locations in real time, allowing you to better allocate inventory to specific branches, transfer stock between locations, and optimise your stock distribution process.

REAL-TIME INVENTORY TRACKING

It is important that you keep a lid on how your inventory is being managed. However, a common issue many businesses face is stock control, which may result in a stock surplus or shortage. MYOB Advanced software allows you to monitor your stock levels accurately in real time and send notifications when stock levels reach below the reorder point, helping avoid stock control issues.

PURCHASE ORDER MANAGEMENT

MYOB Advanced can facilitate the creation and tracking of purchase orders, meaning that you can generate purchase orders based on supplier lead times, sales forecasts or reorder levels. This feature is especially useful in maintaining optimal inventory levels and ensures that you have an adequate level of inventory stock at all times, improving customer satisfaction.

INVENTORY REPORTING AND ANALYTICS

MYOB Advanced also boasts robust inventory reporting and analytics features, which help generate detailed reports on your inventory. You can gain valuable insights on your inventory turnover, sales trends, and slow-moving items. By analysing this data, you can brainstorm inventory management strategies to come up with better reordering, pricing and promotion strategies.

CORE FEATURES OF MYOB ADVANCED BUSINESS

MODULAR STRUCTURE

MYOB Advanced Business is built from the ground up to be modular and customisable, which means you only pay for business processes and features you use.

INTEGRATIONS

If you use other software solutions to manage business functions, you can easily integrate them with MYOB Advanced Business to have a single source of truth.

LOCALISATION

This ERP solution is used extensively in Australia and New Zealand, so its implementation is customised to meet regional requirements and regulations.

TRAINING AND SUPPORT

MYOB provides proactive support and training to businesses during the implementation process through webinars to get the most out of MYOB Advanced Business.

CASE STUDIES

Slide 3

ORIGIN FOODS

One of the major hurdles Origin Foods encountered involved effectively managing its finances using its existing accounting software, which lacked scalability and failed to keep pace with the company's rapid growth. They chose MYOB Advanced Business for a scalable financial management solution that can handle its growth.

PRIME DEVELOPMENTS

Prime Developments needed an ERP management solution that would allow them to manage multiple projects at the same time, and operate their business remotely over a large geographical area. The company choose MYOB Advanced Business to allow them to collaborate with stakeholders and manage projects remotely over a large area.

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CAPITAL CREST FINANCE

Due to the size of their organisation and the number of processes involved in their work, Capital Crest Finance suffered a severe lack of visibility. This led to inefficient scheduling, mistakes in data entry, and data processing. The client chose MYOB Advanced and our team got to work implementing it into their business operations.

TRANSIT SOLUTIONS

In the beginning, Xero served Transit Solutions well, however, as the organisation started to grow, the system couldn’t cope with processing large amounts of data, causing major downtime. The company chose MYOB Advanced Business to streamline and automate their financial reporting capabilities.

Read our success stories

Here are some of the industries we serve

Manufacturing

Wholesale distributors

Retail

Construction

Professional Services

HERE’S WHAT OUR CLIENTS SAY

SwanCare

“Integrated and Efficient”

"Managing multiple departments used to be daunting. But now, with MYOB Advanced set up by Cogtek, everything's integrated. It's simplicity at its best!"

WE’RE THE TRUSTED DIGITAL TRANSFORMATION PARTNER
FOR 100+ CLIENTS

Frequently asked questions

WHAT COMMON INVENTORY MANAGEMENT CHALLENGES DOES MYOB ADVANCED ADDRESS?

MYOB Advanced inventory management features are designed to help businesses in construction, retail, manufacturing, professional services and wholesale address common inventory management challenges such as overstocking, understocking, inefficient order processing and inaccurate stock levels.

IS MYOB ADVANCED SUITABLE FOR BUSINESSES OF ANY SIZE?

MYOB Advanced accommodates the needs of businesses of any size and industry and is specially designed for Australian businesses. It offers an intuitive and scalable suite of features that can cater to sole proprietorships, small businesses, and large complex enterprises.

DOES MYOB SOFTWARE OFFER ON-PREMISE OR CLOUD-BASED SOLUTION?

MYOB Advanced is a fully cloud-based ERP solution, which means you can access the software from anywhere at any time and on your computer or smartphone as long as you have an internet connection.

READY TO TAKE YOUR INVENTORY MANAGEMENT CAPABILITIES TO THE NEXT LEVEL? GET IN TOUCH WITH COGTEK TODAY!