The FiO ERP software is one of the most comprehensive ERP software packages on the market today. It contains a wide range of different modules that address just about every aspect of running a business in today’s fast-paced environment. These modules allow business owners to stay up-to-date on many different aspects of their businesses and allows different departments to share information and interact with each other.
Despite being one of the best ERP options available, Group FiO is constantly working to improve and further develop many of the capabilities of the myFiO ERP software. I recently had the opportunity to speak with Ravi Srinivasan from Group FiO about some of the recent improvements in the myFiO ERP software, and he was very excited to discuss some of the tremendous improvements that have been made which allow for even better inventory controls than previous versions.
Real Time Inventory Visibility Across Multiple Channels
One of Group FiO’s latest improvements to the myFiO ERP software is the ability to view inventory levels across multiple sales channels in real time. In addition to viewing how much inventory is in stock, the software can also help you decide how it should be allocated across different channels.
Ravi explained that if you have a situation where your total stock is limited and you are trying to properly allocate it across eBay, Amazon, and your own e-commerce store, the myFiO ERP software can help you best determine how much inventory should be allocated to each channel in order to maximize your profitability based on your sales estimates and specific profit margins with each channel.
Supply Chain Visibility
Another inventory improvement that has been made recently is the ability to determine how many order to send to a vendor that leverages the level of stock the vendor carries. The software will identify how much inventory a vendor is storing and automatically send the proper orders for units to that vendor as necessary.
Am I Making the Best Choices?
Ravi also explained that one of the core functions of the myFiO ERP software is enabling a business owner to make better choices about how they allocate their resources. This can have a tremendous impact on the business’s bottom line, so it should not be taken lightly.
myFiO ERP software has the ability to incorporate factors like shipping costs into decisions about which location to ship a particular product from in order to maximize profits. The software can also help business owners identify where they are finding new customers and how they can get the right marketing information in front of those customers.
According to Ravi, Group FiO is constantly working to improve the myFiO ERP software and its abilities to be a tremendous aid in critical decision making for business owners.
While many of its competitors don’t amount do much more than glorified database management tools, the myFiO ERP software has the ability to contribute to key business decisions. As you can see, those capabilities are continually evolving and improving, which is why the myFiO ERP software is such a powerful tool for your business.