Report export, import, inventory – control, goods, and optimal business finance

Report export, import, inventory play the role as a strategic tool to help businesses track the movements of goods, inventory control and effective purchasing decisions, sales optimization. However, many businesses have trouble reporting export, import, inventory due to errors in data entry, non-inventoried periodically or has not applied technology in inventory management.

In this article Lac Viet Computing will detailed analysis of the report, export, import, inventory, from concept, method statements, correct the common mistakes to application solutions and technology to help optimize workflow, inventory management. This will be a useful guide for businesses that want to improve inventory management, optimize cash flow and improve business efficiency.

1. Report export, import, inventory, what is?

1.1. Definition report export, import, inventory

Report export, import, inventory is an important document to help businesses track the movements of goods in the warehouse according to each specific time. This report provides detailed data of import into, export out and inventory end of period, to help businesses better control the flow of goods, optimized warehousing operations and to ensure the supply of the goods takes place smoothly.

A report export, import, inventory, often basic information include the following:

• Commodity code: unique identifier of each product in stock.
• Name of goods: description details about the product.
• The number of inventory the beginning of the period: the Number of goods available in stock at the time of the beginning of the reporting period.
• The number of warehouses in the states: the Total number of goods imported into the repository in the report period.
• Number of warehouses in the states: the Total number of goods have out of stock to sell, use or destruction.
• The number of inventory end of period: the Number of rows remaining in the treasury after the calculation of all trades import – export.

Inventory report can be set by day, week, month, or quarter, depending on the scale and management needs of each business.

1.2. The purpose of the report, export, import, inventory

Report export, import, inventory is not merely a summary table of data, but also plays an important role in warehouse management and financial planning business. Here are the main benefits of inventory report:

• Control the amount of goods in stock: to Help businesses track the status of goods, avoid losses, errors or fraud in the management repository.
• Supports calculate cost of goods sold (COGS): Provides important data for the accounting department in determining cost of goods sold, ensure accuracy when drawing up financial statements.
• Optimized purchasing process: to Help businesses determine the time of entering the goods reasonable to avoid the excess or shortage of raw materials/goods.
• Cash flow management efficiency: The forecast accuracy inventory helps businesses use working capital logical limit condition, which is “buried” in the inventory.

2. The type of report export, import, inventory downloads

Depending on your needs and the scale of operations, the business can use a variety of reports, export, import, inventory different to serve, inventory management and finance. Below is the report type downloads:

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2.1 report export, import, inventory daily

• Track each transaction, import – export daily to help businesses respond quickly when there are errors or a sudden change in amount of goods.
• Suit business retail, manufacturing or e-commerce needs inventory control closely.

2.2 report export, import, inventory by month/quarter/year

• Summing up the stock for a longer period of time, often used to analyze trends, inventory, needs assessment of goods and optimized plans to enter the restaurant.
• Useful for manufacturing businesses, big retail chains or the import and export company need to forecast inventory seasonal.

2.3 report export, import, inventory according to each items

• Analysis of individual code to evaluate sales performance, rotation of inventory and the ability consumption of each product.
• Helpful in deciding the type of goods which need to boost sales, the type of goods which need to reduce the input to optimize the cost of warehousing.

2.4 report export, import, inventory by supplier

• Performance tracking import goods from each supplier, to help businesses assess the quality and reliability of partners supply.
• Useful in negotiating better prices with suppliers have the rate of punctual delivery, high quality and stable goods.

3. How to create reports, export, import, inventory accuracy and efficiency

Inventory report plays an important role in controlling inventory optimization, supply chain and support financial decisions. To report the export, import, inventory correctly and effectively, businesses need to follow the specific steps below.

Step 1: Identify the input data required

A report export, import, inventory accuracy should be based on actual data from the system inventory. Businesses need to collect the important data follows:

• The number of inventory the beginning of the period: the amount of goods available in stock at the time of the beginning of the reporting period.
• The number of warehouses in the states: Includes the number of goods is entered from supplier or internal production.
• Number of warehouses in the states: includes the number of goods were sold, for internal use or consumption.
• The number of inventory end of period: Is calculated based on the amount of imports into and exports out during the reporting period.

In addition, to ensure accuracy and decision support, finance, business can add information such as:

• Value inventory at each stage.
• The item code, name of goods, unit for easy tracking.
• Supplier and time, help control the quality of goods and ability to supply.
• The inventory levels to a minimum to ensure quality goods always meet business needs.

Step 2: choosing the method of calculating inventory suit

The choice of the method of calculating the inventory value directly affects the cost of goods sold (COGS), profit and financial reports of the business. There are four common methods to calculate the value of inventory:

The method first in – first out (FIFO – First In First Out)

• Goods enter the warehouse will be prerendered.
• Apply common in the industry have nature perishable, time use short (food, pharmaceuticals).
• Pros: value of inventory reflects the true market value.
• Cons: When the price of warehousing increase, cost of goods sold lower than actual, may increase the virtual profit.

Method enter the following – prerendered, (LIFO – Last In First Out)

• Bonded goods last will be first.
• Applied in the environment of inflation, when the price of raw materials tends to increase.
• Pros: Reflects the actual cost of the goods closest to the current sale price.
• Cons: Not properly reflect inventory value according to the market.

Method the weighted average (Weighted Average Cost – WAC)

• Inventory value is calculated by the average value of all shipments entered.
• In accordance with the business there are number of import and export goods big price fluctuations is not significant (retail distribution).
• Advantages: minimize the impact of fluctuations in price, easy to apply.
• Cons: do Not accurately reflect the value of each specific shipment.

Methods the actual purpose of the (Specific Identification Method)

• Export cargo warehouses designated by each unit separately.
• Apply to businesses with specific products, high value (automotive, machinery, equipment, technology).
• Pros: The absolute precision of the inventory value.
• Cons: Requires warehouse management system complex, difficult to apply to enterprises with the number of goods large.

Step 3: Apply the formula for calculating the inventory end of period

After you have defined the input data and the method of calculating inventory, businesses can use the formula for calculating the inventory period end as follows:

{Inventory end of period} = {inventory first states} + {Enter warehouses in the usa} – {Export warehouse in a.}

• Inventory, beginning of the period: 500 units.
• Enter the warehouse in the states: 1,000 units.
• Export warehouse in the usa: 800 units.
• Inventory, end of period = 500 + 1.000 – 800 = 700 units.

This recipe helps businesses keep track of the goods remaining in the warehouse to take a purchase decision or adjust sales strategy accordingly.

Step 4: cross Check with actual data

One of the common mistakes in report export, import, inventory is the data on the system do not match with actual data in the repository. Causes can be due to errors in data entry, cargo loss or system errors. So, businesses need to take steps to cross-check as follows:

Warehouse inventory periodically

• Compare the data on the report with the fact to detect the difference.
• Apply inventory monthly, quarterly, or unscheduled to control inventory better.

Application automation technology

• Use warehouse management system (WMS) to update data in real time.
• Integrated barcode scanner or RFID to minimize input errors.

Build process internal control closely

• Authorization for staff to inventory, accounting, purchase parts in order to avoid fraud.
• Apply standards, international accounting (IFRS) or VAS to ensure transparency in financial reporting.

4. Application of technology in the management report, export, import, inventory

In the era of goods, the application of technology to the management report, export, import, inventory helps businesses improve performance, minimize errors and optimize cash flow. Instead of using traditional methods such as data entry in Excel or notes, the warehouse management software is the integration with artificial intelligence (AI) and real-time data (real-time data) to help businesses automate the process of updating accurate data and support decision quickly.

Finance AI Agent of Lac – artificial intelligence management support intelligent warehouse

In the context of business is the conversion of artificial intelligence (AI) plays an important role in the optimization report, export, import, inventory. Finance AI Agent of Lac Viet is a tools app WHO help businesses enhance their ability to inventory control and optimize financial performance.

Automatic data analysis, export, import, inventory, detect errors

• WHO can scan the entire data warehouse, detect deviations irregularities in the data, export, import, inventory.
• The system can give early warning of goods risk of loss of or errors in reporting.

Trend forecasting, inventory optimization plan import

• AI, data analysis, history, export and import of goods from that predicted demand commodity in the different stages.
• Support determine the selling items, items deferred consumption, help in business plan warehouse import more reasonable.

Suggestions to improve performance storage warehouse

• AI computing performance using the proposed business, optimize storage area, arrange goods more science to reduce the cost of warehousing.
• Support the inventory levels optimal, avoid the status of the goods is stagnant or sudden shortage.

Integration with ERP systems and financial

• Finance AI Agent can connect to the accounting software, ERP and warehouse management, help sync financial data and inventory in real time.
• Automated financial reporting related to inventory, supporting businesses control cash flow better.

Lac Viet Financial AI Agent to solve the “anxieties” of the business

For the accounting department:

• Reduce workload and handle end report states such as summarizing, tax settlement, budgeting.
• Automatically generate reports, cash flow, debt collection, financial statements, details in short time.

For leaders:

• Provide financial picture comprehensive, real-time, to help a decision quickly.
• Support troubleshooting instant on the financial indicators, providing forecast financial strategy without waiting from the related department.
• Warning of financial risks, suggesting solutions to optimize resources.

Financial AI Agent of Lac Viet is not only a tool of financial analysis that is also a smart assistant, help businesses understand management “health” finance in a comprehensive manner. With the possibility of automation, in-depth analysis, update real-time, this is the ideal solution to the Vietnam business process optimization, financial management, strengthen competitive advantage in the market.

VIEW DETAILS, FEATURES, LAC VIET FINACIAL AI AGENT

With the support of technology, report, export, import, inventory is not merely a table of data which became effective tool to help businesses improve productivity, optimize operations and create competitive advantage in the market. To maintain sustainable development, enterprises need to constantly improve the way warehouse management, process optimization and using data in a smart way.

Get started today by app solutions modern technology to optimize report export, import, inventoryimprove efficiency, financial management and development of sustainable business!