Managing inventory costs goes far beyond just paying for the items themselves. Businesses often face a wide range of related expenses—from shipping fees and customs duties to insurance, handling fees, tariffs, and more. Without the right tools, accurately tracking and managing these costs can feel like a massive uphill battle, potentially leading to incorrect pricing, reduced profitability, and erroneous financial reporting. This is where Acumatica Cloud ERP steps in as a game-changer for businesses looking to streamline cost tracking and have accounts that are accurate and predictable.
Track Every Cost, Every Step of the Way
Acumatica Cloud ERP provides a comprehensive system for tracking all costs associated with inventory, ensuring no expense gets overlooked. Here’s what Acumatica offers to simplify cost management:
- Shipping Costs: Keep detailed records of shipping fees tied to inventory, whether domestic or international. Acumatica ensures shipping costs are easily integrated into the total price of goods. Acumatica also allows the ability to rate shop within the platform, so your team selects the best price for your business.
- Customs Duties and Tariffs: Importing goods internationally? Acumatica makes it easy to track customs duties and tariffs to ensure compliance without sacrificing visibility into true costs.
- Insurance & Handling Fees: Costs like insurance and storage-handling fees are seamlessly accounted for within the platform, giving you a full picture of all landed costs tied to your inventory.
With Acumatica, all these expenses can be manually entered based on predictions from your team or automatically allocated to their corresponding inventory items based on bills received, helping businesses maintain precise cost records. This not only ensures profitability but also empowers teams to make more informed pricing and operational decisions.
Optimize Container Tracking with PC Bennett’s Shipping Container Management
For businesses importing or exporting inventory by sea, managing containers can be a logistical challenge. To help solve this, PC Bennett Solutions developed a proprietary Shipping Container Management add-on for Acumatica Cloud ERP. This advanced feature allows users to:
- Track containers in transit including details like estimated arrival times and costs.
- Automatically perform landed cost allocations and execute any necessary purchase receipts.
- Ensure full transparency by capturing all expenses tied to a specific container.
- Fix erroneous cost tracking by reversing landed costs – a feature in Acumatica exclusively available in Shipping Container Management
This level of oversight is crucial for businesses managing complex supply chains, enabling them to reduce delays, enhance tracking accuracy, and maintain profitability.
Gain Visibility and Take Control
With Acumatica Cloud ERP and powerful extensions like PC Bennett Solutions’ Shipping Container Management add-on, businesses can simplify even the most complex supply chain cost challenges. From tracking every penny associated with landed costs to enabling post-cost adjustments, Acumatica provides the tools businesses need to maximize efficiency and profitability.
Take the Next Step
Curious to see how Acumatica can help your business manage inventory costs with confidence? Request a demo to discover the platform’s full capabilities or click here to learn more about PC Bennett Solutions’ Shipping Container Management add-on. Take charge of your inventory costs today.
