Name: Vendor Managed Inventory
Price: 50 USD
Author: ActionTrak

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ActionTRAK Vendor Managed Inventory is a solution designed to streamline supply and distribution chain management for businesses of all sizes. According to the vendor, it provides tools and capabilities to strengthen relationships, save time, and reduce inventory costs. With its scalable and customizable features, this product caters to the needs of small to large companies across various professions and industries.

## Key Features

**ActionTRAK Retail**: According to the vendor, this feature provides a comprehensive review of the organization's needs and offers project management to ensure successful implementation. It also allows for customization to match the way the business operates and offers extensible services that can expand as needed.

**ActionTRAK Inventory Management System**: The vendor claims that this feature enables professional, scalable supply and distribution chain management. It offers ease of use and flexibility, making it adaptable to different business requirements. The system is also scalable and customizable to accommodate growth, and it integrates seamlessly with ActionTRAK LINK Relationship Intelligence.

**On-Demand Barcoding**: According to the vendor, this feature allows businesses to easily generate low-cost barcodes, labels, and printing. It supports the use of existing UPC or SKU based barcodes or the creation of custom ones. The system automates inventory tracking by region, area, site, or custom grouping and is compatible with various devices like cell phones, mobile devices, and RF barcode readers.

**Customization and Configuration**: The vendor states that this feature allows users to create custom templates and bins to manage complex SKU configurations. It provides the ability to set up multiple inventory locations, including facilities, sites, retail locations, or vehicles. Users can also manage min/max settings to trigger automatic orders and restock notifications by location and SKU. The system offers flexible solutions for technical needs, including OnPremise, self-managed IT, or Cloud-based SaaS solution.

**Integration and Connectivity**: According to the vendor, this feature enables seamless integration with popular accounting systems like Sage and QuickBooks. Custom integrations are also available to meet specific business requirements. Additionally, the system offers enhanced supply chain relationship management with ActionTRAK LINK and provides a dynamic toolset including PO, RMA, RTV, Invoicing, and Cycle Counting.

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Vendor Managed Inventory

Inventory management systems are built to handle every stage of the inventory process lifecycle. There are several essential components to most inventory management solutions, starting with order entry capabilities to handle purchase automation. Another standard feature: inventory control and warehouse management to track products and manage workflows through warehouse management. Inventory management systems also typically include distribution capabilities for supply chain management. Fully-featured inventory management systems may also include integrations with customer lifecycle service management, enterprise resource planning software, and robust financial analysis and insights.

Inventory Management

ActionTrak

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Serial number and batch tracking

Track individual items via serial number or batches of items made or purchased at the same time in addition to total stock of item types.

Barcode scanning

The software offers UPC creation and scanning capabilities or integrations for tracking inventory.

Automation rules

Rules can be established to automate reordering items, applying tags to organize inventory, creating production orders, shipping items via specific carriers or methods, and more.

Reporting and analytics

Reports about historic and current inventory and order trends are available.

Fulfillment

When orders are received, pick orders are sent to the ideal location and fulfillment status can be tracked.

Backorder management

Backorders are prioritized and fulfilled as new stock arrives.

Returns management

Returns are processed and accounted for among orders and inventory.

Bill of materials management

The software can create and manage BOMs based on orders.

Item kitting

Items can be bundled and sold together in a kit, and the software will automate the necessary tracking and fulfillment steps to manage each individual item.

Invoicing

Invoices for orders can be created and sent, and invoices from suppliers can be managed.

Forecasting

The software predicts future inventory and order trends, and may offer reordering and production suggestions based on these predictions.

Accounting integration

The software integrates with accounting software for more comprehensive bookkeeping.

Point of sale integration

The software integrates with a point of sale system for payment processing.

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Vendor Managed Inventory

Overview

What is Vendor Managed Inventory?