The warehouse and inventory management is based on a hierarchical location structure, from warehouses to storage bins. If a software has a double-entry inventory system that surely enables businesses to manage their suppliers, customers, and manufacturing inventories.

OpenERP/Odoo has the capability to handle lots and serial numbers which helps companies to ensure compliance with the traceability necessities forced by most of the industries. The Odoo Warehouse Management System (WMS) allows you to optimize important warehouse processes like procurements, shipping, and replenishment functions by employing powerful system logic to select the best locations and sequences.  Main features of the Odoo Warehouse Management System:

Managing Inventory Structures

In the Odoo WMS, in the Location Structure menu, you can open the warehouses' structure within your multiple locations like physical locations, partner locations, or virtual locations. Moreover, you can create counterpart locations that will allow you to map your principal operations such as deliveries, inventory Profit-Loss, and more with the locations. Structuring your Locations would in turn allow you to perform a detailed analysis of your stock operations and give you a good insight into your warehouse organization.

Products

Items that you can purchase and sell, are comes into the category of products, and those could be raw materials, consumable products, stackable products, etc. You can define procurement and supply logistics. Also, you can specify paths of the product and apply logistic rules by linking various locations. Important to realize, this approach supports you in managing dispatched goods. Odoo has the top inventory warehouse management app that has numerous features that can help you with setting customer and manufacturing lead times, defining warranties, locations procurement, unit measurements of your products. Odoo supports Double units of measure where the same product can be expressed in two completely different categories of measure thus simplifying and automating your invoicing procedures

Stock Availability

Odoo provides you the option of checking your stock levels for different products for any selected location at any given point of time. You can calculate both the Real Stock (the actual physical quantity present in your Warehouse) and the Virtual Stock (calculated as real stock – outgoing + incoming) for all the physical locations. Virtual Stocks are extremely useful as it allows your salespeople to see what they can sell. Moreover, see the Future Stock Forecasts that are based on anticipated stock changes, approved sales orders/purchase orders/production orders. This software also provides you information about Stock lead times and their locations.

Inventories
We all know that inventory operations are focused on entering the actual current quantities into the system for the goods in stock. By a simple click on a location, you can get a complete inventory location analysis, for a specified period. Odoo gives you the flexibility to start your inventory from scratch or to get quantities from the system and then change them after checking the actual stock quantity. Odoo supports the concept of Periodical Inventory which allows you to check stock operations on a periodic basis. Automatic stock moves are performed to ensure correct levels of products at your stock locations.

Automatic Procurements

Procurement orders in Odoo are automatically generated. You can set Minimum Stock rules in Odoo to help you avoid out of stock situations, stocks will be reordered automatically when they fall below the minimum set stock level. This software can help you to create a purchase order automatically, which only needs a confirmation of the buyer. In the case of configuration issues, procurement exceptions will be created, that can be fixed automatically by the system or can be corrected by us. Odoo also allows you to create Manual procurement orders.

Incoming Shipments

The Incoming Shipments represent all supplier's orders to be received, generated by the purchase orders confirmations. This system also enables companies to manage all of their backorders, automatic inventory valuation, control quality, control invoices to suppliers, etc. Odoo supports reception control by order lines and allows you to process multi-order receptions, and process partial and complete shipments with ease. The various features in Odoo allow you to receive and handle products rapidly and with great flexibility.

Outgoing Shipments

Companies generate outgoing shipments only when sales orders get confirmed. Orders can be scheduled using Automatic Schedulers or you can use the ‘Just in Time’ feature to schedule each order in real time after it has been confirmed. Odoo allows you to configure Outgoing Delivery stock moves and also to define your own logistic flows. With Odoo, you can easily manage and control partial shipments, and customer returns.

Traceability & Production Lots

The double-entry management in Odoo enables you to run very advanced traceability. You can easily track each product or a set of similar products with Production Lots (bar codes stuck on the products). You can get the complete upstream or downstream traceability for each production lot. You can also identify products and Locations with Barcodes and RFID Devices

Internal Stock Moves

In Odoo you can configure logistic rules to move internal products between several locations in your warehouses for each product. Stock Moves in Odoo can be set configured to Automatic Stock Moves or Manual Stock Moves, Odoo by default supports the Pushed Flow Logistic method to automatically move products internally based on location.  Also, you can go for Manual stock moves just to reorganize the warehouse.

Reports

Inventory Valuation is a report that contains the monetary value of your stock quantity for each location of your warehouse's structure and for your real as well as virtual stock. Inventory by location gives you a report of the product quantities by location. Dates of the latest inventories by-product report give you the list of all inventories by date and product for any control purpose.

Imports/Exports Management

With the help of Odoo, you can conveniently manage Import/Export operations with international companies in a very effective and efficient manner. With Odoo you can know where your products are, know your product value in transits, know the lead times for their arrival, and validate stock moves at each port and customs arrival. Calculating lead times and Stock Forecasts allow you to estimate the arrival of incoming products so that you can respond to the customer’s need as precisely as possible.