Reports can be created using the report function in an inventory management system. The data and information is pulled from the system’s database to create a report with all of the pertinent information necessary. Examples of categories of the types of reports and documents available include:
- inventory reports
- sales reports
- purchasing reports
Reports can be standard, meaning they are already available in the inventory management system. Alternatively, reports can be customized, meaning they are a modified or altered version of a standard report or personalized for a business in order to display specific information desired.
There are many reports and documents available that can all be used in a variety of ways. Depending on the exact inventory management software system, both standard and custom reports may be available.
The reports can be used to determine optimum inventory amounts down to the product level by displaying information such as
- inventory analysis by product
- sales history by a specific customer
- inventory information by lot or serial number
- inventory reorder reports that display all products needing to be reordered
The benefit of reporting is that you are able to see a comprehensive and detailed amount of information at once. This is a time and effort-saving alternative to manually looking up all the data and/or information separately. Additionally, because reports are an automated way of collecting information, potential for error is greatly reduced.
