• Sales (sale_management)
• Invoicing (account)
|Lines of code||1344|
Take a tour of Smart Inventory to see its powerful features in action!
Smart Inventory Features
Bringing the power of intelligence, automation, and integration to your inventory operations.
Understand Your Demand
AI-Driven Demand Forecasting
Historical Data Analysis
Pattern, Seasonal, and Irregular Demand Adjustments
Demand Type Classification
Product, Variant, and Category Forecasting
Know Your Inventory
Under/Overstock Risk and Value
Optimal Stock Levels
Total Inventory Value
Return Statistics & Snapshot
Service Level Reporting
Inventory Level Optimization
Product Comp Recommendations
Optimized & Automated Reordering
Make v. Buy Recommendations
Automatic Purchase Planning
Cost & Lead Time Analysis
Smart Inventory Pricing
With Smart Inventory you will have unlimited access to four powerful functions including:
Subscription billed Annually
Subscription billed Annually
Subscription billed Annually
Determine Your Number of Forecasting Units
Annual subscriptions are determined based on the number of forecasting units. To calculate your number of forecasting units, multiply:
Number of SKUs x Number of Sales Channels x Number of Warehouses x Number of Forecasts per Month
For example, if you have 100 SKUs, 2 sales channels, 3 warehouses, and want to forecast weekly,
your forecasting units are 100 x 2 x 3 x 4 = 2,400.Omit any SKUs, Channels, or Warehouses that you do not want to forecast.
Implementation & Customization
Smart Inventory requires a one-time implementation to ensure you're set up to be successful. This process includes everything necessary to get Smart Inventory integrated into your system and to get your staff ready to utilize it.
For businesses with additional requirements and needs, a custom solution is available.
We offer basic models that can predict common demand patterns. Your business model and marketing strategy might lead to different demand patterns.
To take advantage of machine learning, we suggest having a data mining process to understand the data insights and improve accuracy.
Demand Forecasting requires at least 6 months of historical data to be accurate.
Forecasting frequency can be configured at the product level to run daily, weekly, or monthly as required by your business needs.
Here is an example of a forecasting graph to show you what Demand Forecasting looks like at the product variant level:
The default is to run forecasts on the product variant level but this can be configured to the product level.
Yes. All of your forecasts can be viewed inside your instance of Odoo in the Forecasting App that comes with Smart Inventory.
Inventory Insights shows many key metrics beyond Odoo's inventory application including:
Overstock and excess value
Products near their reorder point
Products at proper stock level
Potential stock loss
Total inventory value
Overall stock health
Inventory Insights can be accessed from an easy-to-navigate dashboard in the Inventory application at any time. Key metrics are updated routinely throughout the day providing accurate insights during business operation without having to wait for a certain period -- such as your business day -- to end in order to generate and access reports.
Inventory Insights can be viewed in an easy-to-navigate visual dashboard providing an overview of key metrics with the ability to view deeper information as necessary.
Yes, the system continually monitors your inventory operations throughout the day and allows you to generate real time alerts so you can make adjustments as needed.
Stock Report automatically categorizes your inventory into three key groups:
Enough: You have enough inventory on hand
Order: You need to order inventory to maintain optimal levels
Urgent: Inventory levels urgently need to be replenished
This allows you to make decisions regarding your purchasing and sales efforts based on real time insights into your inventory levels.
Yes, forecasts from Demand Forecasting are one of the parameters considered when automatically generating purchase plans. This applies a layer of intelligence to the recommendations with consideration for upcoming demand based on historical data and projected consumer behavior.
Yes, draft purchase plans are automatically generated for you based on a combination of system recommendations and parameters that you define for your business. While these plans are automatically generated, manual approval is still required to process the purchase order ensuring that no purchases are made without knowledge or approval by stakeholders.
Purchase Planning generates recommendations based on several key parameters:
Available vendor discounts or incentives
Vendor lead times
These parameters and more are utilized to automatically generate recommendations that optimize for cost and time.
Yes, Purchase Planning allows you to easily import and export to Excel for portability and accessibility of your purchasing workflows. This allows you to integrate with existing manual workflows if necessary for your business needs.
While Purchase Planning utilizes powerful automation to save time and energy resources, you are able to make changes, pause, or stop the workflow as necessary.
Demand Forecasting is one of many important parameters utilized by Intelligent Replenishment to define and maintain optimal inventory levels to prevent over and understock situations from occurring. Intelligent forecasting utilizes historical data as well as future trend analysis to ensure you have the right stock levels to meet your expected demand.
While Odoo allows you to set reordering points for continual purchasing, Intelligent Replenishment adds a layer of intelligence to the workflow. This helps the system account for anticipated changes in demand, supply chain implications, and vendor performance to prevent costly over and understock situations as opposed to relying upon static rules.
Intelligent Replenishment automatically optimizes reorder points or generates new reordering rules as market demand changes. This will also provide you with the option to generate purchase or manufacturing orders when reordering rules are triggered.
Intelligent Replenishment defines optimal inventory levels based on demand forecasts, service levels, supplier lead time, inventory cost and more. You are also able to make adjustments to the definition of your reorder points based on additional business parameters. As a result, the risk of over and understock situations is automatically reduced.
Reordering thresholds can be configured at the individual product level or in product batches depending on the level of granularity your business requires to stay on top of demand.
While Intelligent Replenishment utilizes powerful automation to save time and energy resources, you are able to make changes, pause, or stop the workflow as necessary.
No, the various modules within our Smart Inventory suite are not optimized to function as standalone products due to their integration requirements.
Yes, Smart Inventory runs inside and can be accessed within your Odoo instance in applications such as Forecasting or on top of existing Odoo applications such as Inventory. It is not
an external application.
No, Novobi's implementation team will work with you to ensure your instance of Smart Inventory is properly initialized for your unique business needs. This ensures optimal performance of the system.
Questions? We've got answers.
Connect with our team for answers to your questions about Smart inventory.
Request a personalized demo of Smart Inventory to see its powerful features in action!
Novobi is an Odoo Gold Partner based in Austin, TX that has been building digital solutions since 2008. We specialize in Data Analytics, Cloud, and ERP solutions with a 100% customer retention and success rate over multiple years.
We help you make the most of your Odoo solution. As gold partners with more than 7 years of Odoo experience, we are dedicated to helping you make the most of Odoo. We craft solutions that enhance Odoo's native functionality to help bring your business to the next level.
We combine powerful solutions with a personal touch by providing a service team that will see your implementation to successful completion as well as ongoing support for our products.
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.
Please log in to comment on this module
- The author can leave a single reply to each comment.
- This section is meant to ask simple questions or leave a rating. Every report of a problem experienced while using the module should be addressed to the author directly (refer to the following point).
- If you want to start a discussion with the author or have a question related to your purchase, please use the support page.