SAP Inventory Management
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Supply Chain Management: SAP Inventory Management
Inventory is a fundamental part of your business. Without proper inventory management, the organization can suffer inefficiencies, profit decline, and sustainability impacts.
What is Inventory Management?
Inventory Management is the practice of controlling inventory flow for maximum organizational efficiency. It is suitable for businesses of any size and focuses on organizing and streamlining product storage and fulfillment. The management of stock can be done on a quantity or value basis. Inventory management in SAP is an important component of the Material Management (MM) module, it deals with stocks and goods movement.
With SAP, many companies have real-time data on inventories, which is vital for capacity management and expansion of complex supply chains. The application provides several management tools to help users create an organized warehousing space while uncovering valuable operational data. A couple of examples include the following.
Supply Chain Management: SAP Inventory Management
Inventory is a fundamental part of your business. Without proper inventory management, the organization can suffer inefficiencies, profit decline, and sustainability impacts.
What is Inventory Management?
Inventory Management is the practice of controlling inventory flow for maximum organizational efficiency. It is suitable for businesses of any size and focuses on organizing and streamlining product storage and fulfillment. The management of stock can be done on a quantity or value basis. Inventory management in SAP is an important component of the Material Management (MM) module, it deals with stocks and goods movement.
With SAP, many companies have real-time data on inventories, which is vital for capacity management and expansion of complex supply chains. The application provides several management tools to help users create an organized warehousing space while uncovering valuable operational data. A couple of examples include the following.
Physical locations or organizational levels:
- Plant: A high-level physical location to which the materials are assigned.
- Storage Location: A specific area within the plant where the material is stored.
Four primary movement of goods are:
- Goods Receipt: Inventory can be approved for immediate use or be checked in.
- Goods Issue: A company may choose to process inventories for production or to sell to customers.
- Return Delivery: When materials are being returned from a customer or vendor.
- Internal Movements: When inventory is transferred internally from one location to another.
Most importantly, proper inventory management allows you to move goods with as little wasted time and money as possible. It can help you to optimize demand fulfillment for e-commerce, which is quickly becoming the norm in business to business today.
Benefits of SAP inventory management are:
- Accuracy and timeliness
- Realistic production schedule
- Quality checking
- Inventory analysis
- Proper reporting.
Technical resource partners for consideration might be –Movilitas, Opsveda, SAP.
Further insights for SAPinsiders around SAP Inventory Management
- Real Time Inventory and Order Visibility: Key for Successful Supply Chain Management. Probodh Chiplunkar from Ithena Technologies, outlines how real-time inventory transparency within a technological landscape affects business operations.
- Pick and Choose: How Kingston General Hospital Manages its Inventory with SAP. Author Davin Wilfrid interviews Derrick Morey at Kingston General Hospital (KGH), about the complex network of systems and people managing all the tubes, bandages, needles, and other medical supplies distributed throughout KGH. As an early adopter of SAP ERP technology, the hospital adopted a centralized inventory management system to track supplies for better accuracy.
- Next-Generation Inventory Management. Tom Chason addresses questions about the SAP Enterprise Inventory and Service-Level Optimization and SmartOps solutions. See how an integrated approach offers a powerful way to meet all these requirements for modern supply chains.
40 results
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- SAP Inventory Management
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Measuring the Bullwhip Effect
Published: 21/October/2022
Reading time: 3 mins
When the pandemic made the demand for certain products skyrocket, we started hearing the term "bullwhip effect" a lot. But the bullwhip effect has existed in supply chains for decades. The fact is, the technology to address this has existed for a few years now. The issue is more rooted in trust among the players…
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- SAP Inventory Management
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Stages of Inventory Management Expertise
Published: 23/September/2022
Reading time: 3 mins
Inventory availability is the most critical aspect of customer service. In manufacturing and distribution domains, organizations need to define Inventory Management strategies that can help them control and minimize Inventory costs while providing the desired service levels to their customers. Inventory Management strategy can be used as a strategy of competitive advantage and as a…
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- SAP Inventory Management
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Can Smart Vision Disrupt Barcode Technology?
Published: 23/September/2022
Reading time: 5 mins
In an age where supply chains have become so crucial that every hyperscaler has launched a supply chain solution on their cloud platform, what will eventually differentiate these solutions? If you look for the high-level features in these solutions, most of the features are shared across the supply chain platforms by the top three hyperscalers.…
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- SAP Inventory Management
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Combining Inventory Optimization With Additional Analytics Approaches
Published: 19/August/2022
Reading time: 3 mins
Inventory Optimization emerged as a key focus area over the next two years for SAPinsiders in our recent research, Supply Chain Planning in The Cloud. As organizations still struggle with fluctuating demand patterns developed during the pandemic, inventory policies are also evolving. Hence, it is unsurprising that inventory management and optimization remain a key focus…
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- SAP Inventory Management
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Inventory Planning Complexities
Published: 29/July/2022
Reading time: 2 mins
Inventory planning and management have taken a whole new form in the COVID era. Optimal inventory planning and management were never easy, but the challenges have now increased manyfold. As organizations changed their inventory strategies, many of them moving from just-in-time to just-on-case, the associated planning, and management challenges also need to be addressed. In this…
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- SAP Inventory Management
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Leveraging Association-Rule Mining in Logistics Planning
Published: 15/July/2022
Reading time: 2 mins
Inventory optimization remains a key focus area for SAPinsiders, as highlighted in our most recent research report, Inventory Optimization and Management. When organizations undertake an inventory optimization initiative, they typically leverage conventional multi-echelon inventory optimization tools that leverages inventory placement in conjunction with integer programming and statistical methods to determine how much inventory to hold…
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- SAP Inventory Management
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AIoT for Inventory Management and Planning
Published: 15/July/2022
Reading time: 3 mins
There is no doubt that the AI-enabled Internet of Things (IoT) has the capability to transform the way supply chains run significantly. This is why we will cover this aspect, among others, in our November research report, Inventory Planning and Optimization State of The Market. While we predominantly think of the usage of AIoT in…
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- SAP Inventory Management
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Excess Inventory Management with AI
Published: 23/June/2022
Reading time: 4 mins
Inventory planning and management have taken a whole new form in the COVID era. Optimal inventory planning and management were never easy, but the challenges have now increased manyfold. As organizations changed their inventory strategies, many of them moving from just-in-time to just-on-case, the associated planning, and management challenges also need to be addressed. Excess…
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Optimizing the balance sheet through inventory management and finance analytics
Published: 16/September/2021
Reading time: 1 min
The Covid pandemic created economic and logistical shockwaves across companies as their operating models rapidly needed to adapt. Operational disruptions caused a cash flow imbalance, which coupled with financial misalignment made it extremely challenging to manage inventories. The result? Finance has now become a strategic enabler on how operational excellence is achieved and controlled. Join…
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Real-Time Inventory and Order Visibility: Key for Successful Supply Chain Management
Published: 21/July/2021
Reading time: 7 mins
With advancements in technology such as Internet of Things (IoT), cloud, and big data, demands and expectations for supply chain management have continuously grown over the past few decades. Greater organization of real-time data and visibility into inventory and orders can be a crucial tool in achieving more efficient operations and greater customer value. Large-scale…
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Sparsh J Varsani
SAP Consultant
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