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
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
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.
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.
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.
HERE’S WHAT OUR CLIENTS SAY
“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
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.
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.
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!