Manage Stocks Using the WordPress Inventory Management Plugin
If you are on the lookout for an automated and intuitive WordPress Inventory Management Plugin to manage your Enterprise's inventories then you're in luck! By the way, as the one and only enterprise solution to WordPress, WP ERP has really exploded in popularity among many of the ERP (Enterprise Resource Plugin) solution seekers in recent times.
You will get a bunch of pretty exciting prerogatives from the WP ERP plugin. For instance, managing stocks using the Inventory Management extension provides one of those nifty features you will find while using the plugin.
In this article, we will be discussing the benefits of using this premium extension. But prior to that let's take a look at the reasons why you need to manage your stocks efficiently.
Why Can't You Ignore Stock Management?
Whether your enterprise is generating revenues or not, stock management is something on which you will have to give utmost priority. There is a number of reasons behind this:
Image courtesy: Google.
Firstly, keeping a keen eye on what and how many stocks you have in your warehouse and when the inventories are coming in or out can help lower costs, provide financial reporting and increase transparency and accuracy in the accounting process.
Secondly, you may know that Perishable goods are more vulnerable if they are not sold in due time. However, if you are under the impression that Imperishable goods can save your day, you are wrong. To be frank, once the leftover inventories are out of season, chances are high that you will start leaving money on the table. Because you won't have much space left in your Warehouse for storing new inventories that are in vogue.
As a whole, managing stocks properly will play a vital role to increase your revenues by removing all the unexpected issues e.g. backorders or things like that. Furthermore, it will also help you get a better and more real-time understanding of what’s selling and what isn’t.
Why Do You Need WordPress Inventory Management for Your Enterprise?
With the purpose of running circles around your competitors, you need to do all the stuff in the fastest and the easiest way. This is exactly where the Inventory Management of WP ERP comes in. All you need is an internet connection and then start managing everything with the extension without even the need of a professional accountant.
To Add Products and Create Categories on the Go
With the help of the Inventory Management extension, you will be able to create products in your WordPress dashboard even when you are sitting in a park or anywhere of the world because it is always on the internet. You can create Categories and Parent categories for your inventories on the go so that you can easily find your products and avoid cluttering.
To Purchase Inventories and to Add them to Stock
After creating products in the dashboard, you need to purchase those products in order to stock those products as inventories. There are two options to purchase – one is on credit and the other is on payment. You can use either of the methods. Here is an example of purchase on credit.
To Check Whether the Inventories have been Added to Stock
This is one of a keynote features which has made the plugin downright seamless. While using the extension you just need to navigate to WP Dashboard → Accounting → Inventory to check whether the inventories have been added or not. As soon as you go there, you will see the exact and detailed information about the number of inventories that you have bought and added to the stock. A piece of cake, right?
To Sell Inventories from the Stock
The extension also lets you sell your stock and keep a record of the number of inventories you are selling. You will only have to create the invoice for the product that you are selling and you are good to go!
To Keep a Track of Sales
Every enterprise owners would love to keep a record of the transaction history of each day so that they can find the necessary information while they need it. The feature-rich extension did not compromise in this regard. Here is a screenshot of a real-life transaction history from the extension.
To Have Financial Reports Prepared Automatically
The ability to generate Financial Reports by the Inventory Management extension of WP ERP clearly indicates that the plugin is capable of acting as a full-fledged digital accountant for your enterprise. The plugin generates financial reports such as Product Purchase, Product Sales, Inventory Report, Balance sheet, Trial Balance, Income Statement etc.
What's more, you can export the financial reports to CSV file. Cool, right?
No enterprise owner wants to go downhill, do they? As the business world is becoming more competitive day by day, you need to make your enterprise's workflow more efficient so that the enterprise survives in the long run. The bottom line is that a good inventory management with a useful WordPress inventory management plugin is positively correlated with the survival of your business.
Currently, we are working on WooCommerce integration for the extension. We hope that we will be able to release the WooCommerce integration for the extension very soon.
So, what are you waiting for? Try this extension out from here and go beyond. To know how to install and use the plugin visit this page. If you have any queries, don't forget to drop us a line below. Stay happy.