Construction Inventory Software is the system which monitors the different departments come under the construction work. This includes material purchase, goods purchase, workers salary, receipt entries and delivery request.
An ideal construction Inventory Software must have these three key components. So that you track inventory activities for an unlimited number of products across multiple warehouses:
- Product Management
- Inventory Control
- Sales order entry
Here are various departments which came under the construction Inventory Software:
Product Management
Product management is the essential part of construction inventory software. Thus it is a product level that defines the product’s description, class, type, status, tax status purchase and stock ratio. Adding to this it also includes link standard product codes in vendor catalogs. Cross-referenced to vendor product codes to facilitate purchasing common products from multiple vendors. Optionally establish standard cost rates by product code, warehouse for internal costing purposes. So that the set up pricing schedules for billing of products on sales orders or T&M jobs / work orders.
Inventory Control
Inventory allows to easily handles the products in warehouse and also ensures the product transactions.
Here are important terms which came under Inventory control:
- Warehouse– A warehouse is a place where all the products and materials are store or maintain. It can be a physical location, a job site or a service van. You should have warehouse at different locations so as to easily fulfil the requirements of the customers.
- Receipts– always issue a purchase order whether the order is big or small. As these are helpful to keep records and repeat orders.
- Transfer– move materials from a warehouse via material transfers to jobs, work orders, an equipment item for a repair. To an overhead expense account or to another warehouse. Or you can record the transfer entries as these help to generate accounting transactions.
- Physical Inventory– maintenance of materials is very important so the physical inventory. By this the stock is keep monitor.
Sale Order
Sales order entry module allows you to record “over the counter” sales of products to customers, each sales order may consist of an unlimited number of line items. Which use to identify the products sold, quantities, warehouse, sales price, discounts, etc. Create “drop ship” purchase orders when inventory balances are not sufficient to complete a sales order.
Products include on sales orders are systematically allocate from the designate warehouse. Warehouse operators can update the status of an order upon Pick/Ship.
Customer pricing tables and discount schedules are use as the basis when issuing system generated invoices for individual sales orders. With the ability to override on a case-by-case basis as require.