TallyPrime is a flexible system for optimal inventory management.
Define unlimited groups, categories, batches, locations/godowns
You may simply segregate each of your company’s product lines with TallyPrime by setting an infinite number of groups, categories, batches, locations, and godowns.
Flexible units of measure
With TallyPrime, managing complicated real-time issues such “the need to purchase in one unit and sell in another,” “stock items that must be quantified in multiple units,” “calculating the unit of stock item with floating conversions,” and so forth is no longer a laborious chore. TallyPrime’s adjustable units of measurement let you manage and quantify your stock anyway you see fit.
Manufacturing journal
Using TallyPrime, document the complete manufacturing cycle. Keep track of the raw materials used, the godowns from where they are shipped, and the price of their purchases. Note the specifics of the completed goods, byproducts, and scrap that are yielded.
Bill of material
You can specify the raw materials, assemblies, parts, and components, as well as the amounts of each inventory, required to make a final product using TallyPrime’s extensive Bill of Material (BoM) capability. In the BOM of completed products, you can additionally specify by-products, co-products, and scrap.
Re-order level
TallyPrime’s reorder level feature makes sure you never run out of stock. Find out in real time which stock needs to be refilled and in what quantities. In addition to automatically generating a report that informs you of the shortage and the necessary order amounts, you may define minimum and reorder levels.
Multiple stock valuation
You can evaluate your closing shares utilizing various stock valuation techniques with TallyPrime. You can choose a different stock valuation approach for each item depending on your needs thanks to the flexible stock valuation method. The following approaches for stock valuation are supported by TallyPrime.
- Average Cost
- FIFO
- FIFO Perpetual
- Last Purchase Cost
- LIFO Annual
- LIFO Perpetual
- Std. Cost
- Monthly Avg. Cost
- At Zero Cost
Job work
You may control the job work process as both a major manufacturer and a job worker using TallyPrime’s robust job work functionality. To provide full visibility into the status of both jobs and materials, you may keep track of material issues, receipts, and material consumption backed by job work reports.
Manufacture and expiry date management
For businesses that deal with items that have a limited lifespan or set shelf life, managing the manufacturing process and expiration dates is essential. You may keep inventory in batches with TallyPrime, which allows you to see all batch details, including manufacturing and expiration dates as well as the number of days left until they expire.
Few more inventory management features in TallyPrime
- An adaptable inventory management system that can manage exceptions will ensure that no important data is lost from the system and will support you in making wise judgments.
- A range of inventory reports, including item-by-profitability, aging analysis reports, and stock summaries, will assist you in monitoring stock movement and improving the effectiveness of your inventory management.
- You may monitor every task’s material, labor, and overhead costs and revenues down to the last detail by using TallyPrime’s job costing tool.
- Use TallyPrime’s item cost tracking function to efficiently track and determine the costs associated with procurement, landing, manufacturing, production, orders, jobs, and profits.