Oracle Fusion Cloud Inventory Management Guide

What is Oracle Cloud Inventory Management?

Oracle Inventory Management (IM) is a complete cloud-based supply chain solution for the Oracle Fusion Cloud ERP system that helps organizations enhance and streamline inventory processes. Its functionalities support the management of goods across multiple locations and the optimization of inventory levels to meet customer demand while minimizing carrying costs.

Understanding Oracle Cloud Inventory Management

Definition and Core Functions

With Oracle Fusion Cloud Inventory Management (IM), users gain oversight and control over inventory operations of all types and process management associated with those materials. This way, stock levels can be accurately monitored, inventory ordering planned more effectively, and inventory handled with greater efficiency.

Commonly used features include stock management, stock transfers, inventory costing, inventory planning, and stock audits.

Specific user roles can be created to align functionality with specific roles and operational needs within the organization.

A dashboard overview allows for easy inventory monitoring, stock level management, and analytics reporting tools.

Advanced Features and Functions

In addition to basic capabilities, Oracle Fusion Cloud IM provides numerous advanced features to further enhance inventory control, such as:

• Lot and Serial Number Control: Advanced tracking capabilities for managing individual lots and serialized products, enabling detailed tracking and traceability.
• Multi-Echelon Inventory Optimization: Allows for optimization of inventory levels across multiple tiers in the supply chain, reducing carrying costs while ensuring product availability.
• Demand Forecasting: Leveraging historical data and predictive analytics helps the system forecast future demand for products.
• Supply Chain Orchestration: Automates and manages the execution of supply chain processes based on real-time demand and supply conditions.
• Cross-Referenced Items: Enables the management and tracking of items that have multiple identifiers, such as manufacturer part numbers and customer part numbers.
• Inventory Costing and Valuation: Leverage one or multiple costing methods, including standard costing, average costing, and FIFO (First In, First Out).

Integration with Other Oracle Cloud SCM Products

Adopters of Oracle Fusion Cloud IM may find it helpful to integrate the solution with other Oracle Fusion Cloud SCM applications to facilitate seamless data flow and processes across different business functions.

Commonly integrated Oracle Fusion Cloud applications include:

• Supply Chain Planning
• Manufacturing
• Maintenance
• Order Management
• Logistics
• Product Lifecycle Management
• Procurement

Mobile Inventory Applications for Oracle Cloud Inventory Management (IM)

RFgen for Oracle Cloud includes mobile applications for many transactions in its Oracle Cloud Inventory Management Suite, providing mobile automation for locating, issuing, and transferring materials.

Inventory Counts

Using these functionalities, users can perform physical inventory counts and cycle counts.

Item Inquiries

This functionality enables users to find on-hand quantities of materials from a mobile device.

Receipts

By utilizing receipt capabilities, users can receive inventory of various types for a number of transactions.

Transfers

With these mobile capabilities, users are able to transfer materials based on a number of criteria, such as organization, subinventories, location, and more.

Best Practices for Oracle Cloud Inventory Management

What are the best practices for Oracle Fusion Cloud Inventory Management? Get the most out of Oracle Cloud Inventory Management by implementing best practices such as:

• Centralize Inventory Data: Capture all inventory transactions with automated data collection, using Oracle Fusion Cloud as a centralized repository for all inventory data.
• Leverage Automation: Automate routine inventory tasks such as reordering, data entry, and reporting. Mobile automation solutions can enhance other manual tasks as well.
• Optimize Inventory Levels: Use the demand planning and forecasting tools available in Oracle Fusion Cloud Inventory Management to maintain optimal inventory levels.
• Regularly Review and Adjust Inventory Policies: Periodically review inventory policies and performance metrics to adjust for changes in demand, market conditions, or business objectives.
• Enhance Inventory Accuracy: Leverage mobile barcoding to make inventory levels accurate and trustworthy. Re-affirm accuracy with cycle counts and regular physical inventory counts.
• Utilize Advanced Analytics and Reporting: Take advantage of the advanced analytics and reporting capabilities of Oracle Cloud to gain insights into inventory performance, trends, and areas for improvement. Consider using a live KPI metrics dashboard as well.
• Train and Support Your Team: Provide comprehensive training and ongoing support to your team on using Oracle Fusion Cloud Inventory Management to ensure team members are proficient.

Future Trends and Updates in Oracle Cloud IM

Stay up-to-date with the latest news and updates for Oracle Fusion Cloud Inventory Management by visiting the Oracle Cloud Application Update Readiness webpage or by exploring Oracle News.

Training and Support Resources

The Oracle community offers much in the way of training and support. Some helpful resources include:

• Oracle University: Guided learning on OCI and Oracle applications.
• Oracle Academy: Cloud learning for Oracle Academy Institutional members.
• OCI Certification: Become a trusted Oracle Cloud Infrastructure expert.

Community and online forums also offer ways to engage with the Oracle community for advice, best practices, and problem-solving strategies.

Resolving Common Issues in Oracle Cloud IM

If you’re experiencing issues using Oracle Fusion Cloud Inventory Management, try visiting Oracle Support.

For RFgen users, contact technical support.

For non-customers, contact us directly to learn more about what RFgen’s Inventory Management Suite can do for you.

You may also wish to visit our resource detailing the problems we solve.