Inventory management is a cornerstone of operational efficiency for Australian businesses
Inventory management is an essential business activity for successful B2B or B2C trade companies. Effective business strategies prioritise cost control, cashflow management, operational efficiency, supply chain optimisation, risk management, regulatory compliance, data-driven decision making, and customer satisfaction to maintain a competitive advantage.
And we know that for Australian businesses, these factors are particularly important given the country's geographic isolation, high logistics costs, and the diverse range of industries operating within its economy. Without an ERP Software solution, inventory management might face numerous issues.
Odoo is an ERP software solution platform that is open-source and meets all of the inventory management demands of businesses.
Odoo ERP's advanced features, such as double-entry inventory, cross-docking, multi-warehouse management, drop-shipping, routing, and other features, are ideal for inventory management. The Odoo inventory management system simplifies the process of maintaining and tracking stock levels, boosts efficiency and productivity, and enables inventory teams to manage all critical steps.
Moreover, Odoo Inventory is a fully integrated ERP software that includes applications like as accounting, purchasing, manufacturing, sales, and shipping as connectors for simple inventory management.
We are OTOOL
We help to improve operational efficiency
Otool has made significant enhancements to Odoo’s standard inventory module to improve user experience, particularly for monitoring inventory per warehouse. These modifications include an intuitive dashboard that provides a detailed overview of inventory status in each warehouse. The enhanced features ensure that users can easily access critical information and make informed decisions.
Inventory Overview by Otool's modifications offer a comprehensive inventory overview for each warehouse.
Inventory Overview by Warehouse
Otool's modifications offer a comprehensive inventory overview for each warehouse. This includes several key areas.
Receiving
The receiving section provides real-time updates on incoming shipments. Users can track expected arrivals, check the status of pending receipts, and ensure that all goods are accounted for upon arrival.
Warehouse Transfer
Managing internal transfers between warehouses is crucial for maintaining balanced stock levels. The warehouse transfers section allows users to initiate, monitor, and complete transfers efficiently, ensuring that inventory is optimally distributed across all locations.
Delivery
The delivery orders section enables users to track outgoing shipments, ensuring timely and accurate deliveries to customers. It includes features for monitoring the status of each order, from preparation to dispatch.
Stock On Hand
A real-time view of the current stock levels in each warehouse helps businesses maintain optimal inventory levels. Users can quickly see which items are in stock, which are running low, and which need to be reordered.
Stock Reporting
Detailed stock reporting provides insights into inventory trends, helping businesses make data-driven decisions. Customizable reports allow users to analyze stock movements, identify patterns, and forecast future inventory needs.
Stocks Near Expiry
Managing perishable goods is simplified with the stocks near expiry feature. Users receive alerts for items approaching their expiration dates, allowing them to take timely action to minimize waste and ensure product freshness.
Global Overview
In addition to the detailed warehouse-specific insights, there is a dashboard for Global Overview that provides users with a comprehensive view of stock levels across all warehouses. 
Product Management
Product Categories
Organizing products into categories helps users manage their inventory more efficiently. Otool’s modifications allow for more detailed categorization, making it easier to locate and manage products. This is particularly useful for businesses with diverse product lines.
Setting of Routes
Setting up product routes determines how products move through the supply chain. Odoo allow to configure routes for each product or product category, whether they involve direct shipping from the supplier to the customer, multiple warehouse transfers, or multiple internal steps.
Automated Stock Replenishment
Users can set minimum and maximum quantity thresholds for each product within individual warehouses. When the quantity of a product falls below the minimum threshold, replenishment orders are automatically generated, preventing stockouts and ensuring continuity of operations.
