With technology making the world just a bit smaller, many companies have extended their supply chain overseas. While sourcing goods from overseas can help keep costs down, it can also present operational challenges. The ability to track inventory in transit, monitor movement through the supply chain, and predict an on-time arrival can be important in maintaining customer satisfaction. Here's a quick review of the tools available in Sage ERP X3 to track inventory in transit.
When compared to domestic suppliers, there can be added expenses and strict government regulations associated with importing that should be taken into consideration. What's more, unexpected events - like a storm at sea - can delay delivery for weeks. Therefore, the ability to closely track imports and get an accurate view of material availability is essential. It allows you to analyze replenishment cycles to determine future stock requirements and confidently commit to customer orders.
Sage ERP X3 provides several tools to support an increasingly complex global supply chain including:
Shipment Management - allows shipments to be received by container versus individual purchase orders, providing improved planning for additional labor, time, and space required for receiving. In addition, companies importing food products or hazardous chemicals can require shipments to go through a series of internal controls for the necessary documentation required to meet country-specific regulatory demands.
Cost Management - Sage X3 offers a flexible landed cost structure which accounts for any additional expenses associated with receiving the product from overseas. It handles multiple title transfer points and provides the ability to calculate charges at the shipment or line level.
Material Visibility - this function delivers sophisticated lead-time management and provides for a mass update of receipt dates based on changes in travel time. The import inquiry displays details of the product's status (ordered, shipped, in port, released or dispatched). Plus, purchasing, sales, and customer service all have access to updated shipping and promise dates.
Cost Reconciliation - provides a check and balance for materials purchased and third party charges. It also provides a transaction history of all landed cost postings.
The ability to track imports, accurately account for landed costs, forecast stock availability, adjust for unexpected delays, and keep your customers informed is an important part of leveraging a global supply chain without sacrificing quality and accuracy.
Contact Us if you need assistance setting up or configuring options for tracking inventory in transit using Sage ERP X3.