For a variety of important financial and compliance reasons, a business needs to know the value of its inventory at any given time, whether it's company owned inventory or customer owned inventory. A Warehouse Management System provides inventory valuation with precision.
The first step is to have accurate inventory counts. It’s impossible to properly value inventory without knowing what’s in the inventory, and a WMS provides inventory counts with greater than 99% accuracy.
The Warehouse Management System also knows the cost associated with each product. Cost analysis tools track average cost, standard cost, and actual cost for each product or group of products.
Warehouse Management Systems provide the complete, accurate picture of inventory valuation so a business always knows the value of what's in stock.
On the pricing side, the WMS can offer multiple pricing models, default and custom. This gives businesses unlimited flexibility in creating special pricing for certain customers without having to define pricing for each and every customer.
Warehouse Management Systems let a business know the value of inventory at any given time, which is critical for reasons primarily related to accounting, cash flow, and insurance.
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Essent is the leading provider of fully-integrated business management software solutions and services for process-intensive industries and the largest trading network for the promotional products industry. The Essent family of fully-integrated products and services combines best practices, business processes, software automation, and network communications to deliver unparalleled, unified business management solutions. Since 1980, Essent has offered the systems, service, software, and support critical to success in today's highly-competitive marketplace.