When it comes to the operation of a business, management should be able to plan and manage the components of product acquisition as well as product mobility. Because the inflow and outflow of items are so important to the operations of a big firm, there should be a clear plan and technique for product purchase and movement. Today, specific operations solutions are available to enable optimal product procurement. Furthermore, selecting the appropriate platform to manage product purchases and inventory management is critical. These processes will be supported by Odoo, a dedicated and comprehensive business management solution.
The specialised purchase management module and the integrated inventory management module will give the entire operational capability for optimal product management and storage. The Odoo platform’s capacity to establish the Lead Time on a given product based on real-time operational conditions will be an amazing service tool. The Lead Time module on the Odoo platform helps successfully handle customers, vendors, and manufacturing. Each list can be customised using the Odoo platform’s separate menus of operation, which are defined in the various functional modules.
This article will outline the operations of the Vendor Lead Time Management in the Odoo platform, as well as how to make it work for your company.
Let’s start with an understanding of what Lead Time is and how its operations assist the organisation is operating in a real-time setting.
What is the definition of lead time?
The estimated time for a procedure to be finished is referred to as lead time. In the case of product operation, the lead can be defined as the amount of time it takes the relevant party to accomplish a particular activity on the product. This could be for product operation or any service related to it. The developers of the Odoo platform, realising the need for an effective tool for business operations in the real world, incorporated the Lead Time management operation for the business in various aspects of functioning, including Vendor Lead Time, Manufacturing Lead Time, Customer Lead Time, and many others. Let’s look at the Vendor Lead time management features in the next section.
Odoo’s Vendor Lead Time Management.
The firm will seek suppliers to supply the product in the event of product procurement; these vendors could be intermediate partners, wholesale dealers, or the manufacturing company itself. Furthermore, the company will purchase products from several vendors at the same time, which will benefit the industry because they will always be able to get the product they need from one source or another when they need it. There are many limits that the firm should consider while doing so. The price of the goods, their quality, the methods of payment, the quantity that can be delivered, and any hidden fees. The time it takes for delivery, which may vary from one business to the next, is another important factor to consider.
Because vendors will take a certain amount of time to supply the product, the company should estimate how long it will take them to ensure that the product reaches the client. The calculations and setting of the lead time are critical in this process, as they will allow the firm to determine the time of product delivery to clients on the specified day. Customers will enjoy it when a product is delivered on time and before the specified date in the company’s operations. However, if there are any mishaps and the product delivery is not completed within the allocated period, customers will be disappointed and the company’s reputation will suffer.
So, after all of the background operations, such as getting from vendors and processing it, the Lead Time definition and operations will ensure that the firm has enough time to ship the product to the client.
Let’s move on to the next phase, where we’ll define the Vendor Lead Time Mmgamnt in Odoo.
Vendor Lead Time Management in Odoo.
You will be able to establish the lead time factors for the full functional elements in the Odoo platform based on the available alternatives. In Odoo, you may establish lead periods for manufacturing, sales, and purchases. When it comes to setting up Purchase Lead Times, the Security Lead Time for Purchases can be found in the Inventory module’s Settings menu. The number of days to be moded forward can be defined when the Security Lead Time for Purchases option has been enabled. This will ensure that any requested delivery dates for purchase products are advanced by the days specified below.
Under the Purchase tab of the product description, you may define the Vendor Lead Time for each product, as shown in the example below. Purchase procedures have been enabled as the Lead Time, as indicated in the preceding screenshot; the Delivery Lead Times can be configured here. The Lead Time indicated here is for the specific product being mentioned.
When a Delivery Lead Time is defined for a certain product, the product will be delivered to the business within the specified time frame after the purchase order is created.
The capacity to plan the parts of product sales to customers and how they can be coordinated to accomplish seamless product delivery and supply chain operations will be provided by the definition of Vendor Lead Times.