Slingshot Inventory and Warehouse Management Review

Global Inventory Visibility

Slingshot Inventory and Warehouse Management can be used to achieve global inventory visibility. Any type of user can monitor inventory from any location or mobile device by simply using a standard web browser. Customers, suppliers, or sales staff can check the status of inventory and its forecasted availability in the future from any device that is connected to the Internet.

Monitor Inventories By Setting Up Virtual Warehouses

Virtual warehouses can be set up within Slingshot Inventory and Warehouse Management, allowing users to virtually track the inventories that are being held by their supply chain and trading partners. Through these virtual warehouses, they will be able to view transactions and reports coming from their partners in real time, helping them reduce inventory levels and optimize service levels.

Warehouse Configuration

Slingshot Inventory and Warehouse Management is a configurable software. Unlimited number of warehouses can be set up within its system. As the warehouses are set up, they can be organized into different zones and locations. Users can also define and apply rules and controls for the processes being performed in each zone and location like picking, put away, and replenishment. Storage types such as refrigeration can be specified for each zone or location as well.

Be Notified On Important Issues Through Triggered Alerts

The warehousing software can send alerts so that users are instantly notified about matters related to their inventories and warehouses, and take actions on issues that require immediate attention. In fact, the software permits them to define conditions that trigger the sending of alerts. For instance, when the inventory they received falls below the quantity they have expected, when there are discrepancies in counts, or when shipments are late; alerts are triggered. Users can receive alerts depending on their roles.

Lot And Serial Number Control

In Slingshot Inventory and Warehouse Management products and items can be tracked using lot and serial numbers. Assigning lot numbers to items can influence picking and replenishment procedures, as such items can be controlled by dates. For examples, users can pick products or items based on their expiration dates, picking first those items that are near their expiration dates – first expiration, first out.

Track Stock Status And Usage History

Monitoring the status of inventory using  Slingshot Inventory and Warehouse Management is a breeze. This is because it provides a feature called Stock Status Inquiry. With this feature, users will be able to see a detailed overview that shows total on hand, demand, and supply inventories. In addition, the software can record usage histories on a monthly basis, permitting users to monitor how fast products and items are being used or consumed. This way, they can control stock levels better as well as facilitate order fulfillment processes.

Stock Replenishment

To ensure that users are able to keep optimal levels of inventory, the warehousing software provides them with the ability to automatically create replenishment orders. Replenishment orders can be made up of purchases, warehouse transfers, manufacturing orders, or external processes that are accomplished by subcontractors. Users can also replenish multiple products at a single location.

Accounting And Financial Management

Slingshot Inventory and Warehouse management is equipped with accounting and financial management capabilities. For example, when modifications are applied to the inventory that users have at hand, those changes are logged into the software. Different valuation methods can be applied to inventory transactions too, namely FIFO or first in, first out;  LIFO last in, first out, standard cost, replacement cost, and average cost valuation methods. In addition, costed transactions and financial data and records like journals are automatically transmitted to third-party accounting systems.

Integrated Receipt And Shipment Confirmation

Slingshot Inventory and Warehouse Management interoperates with other modules that comprised Slingshot’s ERP suite. As a result, the software can be used to verify or confirm orders that were entered in the other modules of the ERP suite. Thus, users can check shipments and receipts associated with those orders. This can help them simplify their warehouse operations, and at the same time, enables them to implement standard and consistent procedures.

Apply Product Stratification Through ABC Classification

There is a unique feature available in Slingshot Inventory and Warehouse Management that allows users to perform product stratification through ABC classification. ABC classification is a technique used in materials and inventory management wherein products or items in the inventory are classified into three categories which are A items, B items, and C items. These categories define that value of each item group such that A items are high-value items that require very tight controls,  B items need less tight controls, and C items have the simplest controls.

So what’s the importance of the ABC classification technique? Basically, this technique enables users to strategically manage and control their inventories in such a way that they are able to prioritize their processes, reduce inventory costs, and maximize their profits. The software automatically assigns ABC codes to inventory items which can be overridden by users. The ABC classification technique can influence counting procedures and how often such procedures should be made. For example, since A items are high-value items, they require more frequent counting activities and stricter counting rules compare with the items belonging to the other categories.