• Complete control of inventory.
• Complete information about the value of the inventory
• Complete visibility on quantities on hand, quantities committed and quantities shipped
• Response time to demand changes reduced
• Knowledge of the exact size of merchandizing inventory
• Frequent analysis of purchases, sales and inventory records.
• Removal of unnecessary use of warehouse space used by unneeded part of inventory.
  Reduction in excess merchandize stock.
• By providing timely accurate information pertaining to inventory location, movement and valuation, receipt of goods, sale and return of goods and profits you can make sure that your inventory is visible throughout a network.

One of the largest costs to any business is that of inventory or stock at hand. Whether you are a manufacturer, retailer or distributor, the amount of inventory you hold impacts your bottom line in more ways than you can imagine. Having too much of your budget committed by not stocking up on items that customers need can have a major impact on your business.

Continuous replenishment of goods is a monumental task if consumer response is not compiled and studied accurately. To facilitate response based on consumer demands, warehouse data, sales forecasts, and inventory planning, it becomes imperative that companies consider inventory management solutions. Making accurate supply and demand predictions is an ideal goal that anyone in the supply chain management arena dreams of.

Novatek’s Consumable Management Software (CMS) is a 21 CFR part 11 compliant, comprehensive inventory management system. It allows management of purchase orders, receivables, inventory locations, transfers, and serialized item tracking. Each material item in the price book has corresponding inventory details that can show all purchases, sales, quantities on hand, quantities reserved, quantities at each physical location, and the latest costs and values. The strength of the product lies in its non-modular design that enables you to enhance your business productivity significantly without ever having to add separate software. With Novatek’s CIMS, you get a powerful yet affordable 'mini-ERP' solution right-out-of-the-box!

Purchase Orders can be created and linked to a job for easy reference upon receipt of material. Viewing and processing received inventory is easy with the Received Items view. Physical inventory is managed using a comprehensive inventory tracking system to record current inventory levels. You can prepare count sheets, perform the actual physical counting of inventory, and then enter variances into a spreadsheet-like data entry window. Reconciliation of recorded on-hand quantities to actual inventory quantities by location easily updates the value of inventory in your accounting system.

Pharmaceuticals and Biotech companies today can implement CIMS to help support the inventory management within the discovery workflow. This module is capable of handling large numbers of compounds and containers. With ever increasing numbers of samples, inventory management is no longer just for sample managers. Research scientists benefit tremendously from access to inventory management software that is intuitive to use and speeds up the daily routine.

In keeping with Novatek’s tradition of making customer relevant software, CIMS has optional bar-coding capability. With the Barcode tracking option installed, Orders, Lots, Shipping information and more are all immediately available through a quick barcode scan. The end result is improved workflow, increased tracking efficiency and perhaps most importantly, a reduction in the effect of human error on inventory manipulations.

Novatek’s CIMS shipping functionality enables users to ship order requests and keep track of all outstanding shipments. With its location management function, users can define locations in a hierarchical structure. For example, users can define buildings, rooms and labs �right down to individual row and shelf. By tracking the location history of a compound, users can accurately identify the source of any sample contamination or any erroneous registration.

CIMS has also been designed to meet the needs of the sample management group managers. A flexible report builder enables group managers to generate a range of reports which show, for example, the workload for individual team members, containers which are short of compounds, and turnaround times for fulfilling requests.

Inventory management can remove barriers between manufacturer and retailer, and establish a closer relationship between them. Ideally, inventory management should be easy as the main purpose is to reduce inventories. If items wanted are not at hand or even if merchandize wanted is reordered often, sales will be lost to competitors. Precise control of inventory is an essential ingredient for a successful company.

Fulfillers can also perform a variety of inventory management tasks including creating new containers, plates, boxes and racks, transferring compounds from one container to another, performing dilutions, replicating plates and pooling plates.