SAN RAMON, Calif., May 5, 2020 /PRNewswire-PRWeb/ -- Rootstock Software, a leading provider of cloud Enterprise Resource Planning (ERP) solutions designed for manufacturing, distribution and supply chain organizations, today announced the launch of advanced costing and inventory management capabilities for globally connected and high-volume manufacturers and distributors. The company's spring release includes Freight and Landed Cost, Inventory License Plating, and an Online Learning Center, which can help companies rapidly adopt Rootstock Cloud ERP.
"Our Freight and Landed Cost capabilities are designed for companies that incur substantial costs in bringing goods from supplier locations to their warehouse," said Tom Brennan, CMO at Rootstock Software. "The new functionality allows companies to capitalize these costs and apportion them to inventory items. As a result, they can more accurately capture the real and complete costs of inventory, and consequently, establish profitable price points."
Freight and Landed costs typically include freight, import duties, custom duties, taxes and tariffs – and they can be a material component of the final cost for companies with global supply chains. Costs can be apportioned to inventory in a variety of ways, including by weight, quantity, value, purchase order line count, or as an additional percentage.
For companies using the standard costing method, this features ensures standard costs incorporate the cost of obtaining the item and allows a company to assess the accuracy of the standard. Furthermore, by making these costs more visible and transparent, supply chain managers can better evaluate and compare alternative supply chain sources.
"In regard to our second new feature – Inventory License Plating – this will significantly benefit high-volume manufacturers that want to manage inventory as a collection of items," said Brennan. "License plating identifies the collection of items as one unit, and thereby, speeds up warehouse and shop floor transactions by processing these groupings with a single scan."
For example, a collection of items might be assembled as a container, pallet, case, master carton, box, tote, barrel, ocean shipping container, or a "virtual" collection of items. The collection moves as a unit and is assigned a unique license plate number or LPN for identification.
"The benefits of license plating are numerous. First, it simplifies the issuing, receiving and transfer of items. With fewer items to manage, there's a reduction in transactions as well as potential errors. Companies experience enhanced traceability and overall greater efficiency. And like all Rootstock Cloud ERP capabilities, mobile devices can be used – in this case, to scan and track license plated items," added Brennan.
The third and final new feature is the Online Learning Center, a critical addition to Rootstock's Customer Success strategy. It was designed to help companies adopt Rootstock Cloud ERP more quickly and easily. The curriculum is designed for a wide range of Rootstock users – from end-users to implementers. Participants have access to a variety of self-paced and instructor-led courses, as well as informal learning hours where participants can discuss various aspects of Rootstock ERP with product experts and other users.
Caroline Santander, senior director of Rootstock's Partner Programs, led the development of the Online Learning Center for Rootstock's entire ecosystem of customers, partners and employees, and commented on its benefits: "The Learning Center offers participants a personalized learning experience and expands their knowledge of Rootstock Cloud ERP very rapidly. From our extensive calendar of courses and events, they can select from a variety of subjects and track their educational progress. Ongoing education has become integral to the Rootstock Success Community, and our center helps participants achieve their objectives and reap optional returns from our ERP."
About Rootstock
Rootstock Software is a worldwide provider of cloud ERP. When combined with CRM, Rootstock Cloud ERP offers manufacturing, distribution, and supply chain organizations a single platform to grow and manage their businesses. Rootstock Cloud ERP is a flexible, modern, and digitally connected system that transforms companies to deliver a more personalized customer experience, efficiently scale operations, and out-service the competition. To learn more, please visit http://www.rootstock.com.
SOURCE Rootstock Software
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