Mismanaged inventory in a manufacturing business can lead to understocking and excess stock. This further causes interruption to cash flow. This is why manufacturing businesses need to manage their inventory accurately. It also helps to avoid interruptions in production processes and fulfill orders on time. Many software are available that help with inventory management in a manufacturing business.
Odoo inventory and TranZact are the top two software solutions for Indian manufacturers to streamline their inventory management. In this comparison blog post, we will explain both Odoo inventory and TranZact, including their features and pricing to help you choose the one that can fulfill your unique business requirements.
About Odoo Inventory
Odoo inventory is a software solution that helps SMEs and manufacturers streamline purchasing, production, and sales processes. It helps businesses reduce lead times, automate restockings, and set up advanced shipping routes.
With Odoo inventory management, you can keep an eye on your stock levels and their movements. It can help you restock the necessary raw materials at the right time to achieve production targets without disruptions.
Let’s take a look at all the benefits that you can gain by implementing Odoo inventory software in your manufacturing business.
- Helps you manage different types of products more efficiently and track them using lot or serial numbers.
- Helps you select replenishment strategies like make-to-order (MTO) to maintain your stock levels.
- Helps you move products from one warehouse to another and keep a record.
- Helps define how products move within and between warehouses with Routes and Push/Pull rules.
- Helps you manage products using different methods such as FIFO (First In, First Out), LIFO (Last In, First Out), and FEFO (First Expired, First Out).
- Helps you track additional costs in procurement, including landed costs.
- Helps you with advanced operations, such as consignment inventory (buying and selling stock without owning it), batch picking, and cross-docking, to improve order fulfillment.
- Allows you to integrate with third-party shipping carriers like UPS and DHL.
- Monitors the movements of products and allows to make inventory adjustments in real-time.
- Can customize shipping labels and schedule delivery dates to meet your specific requirements.
However, a huge drawback of Odoo is that it has a total of 72 apps: Accounting, HRMS, Pos, Website etc. This makes it difficult to use due to many features.
About TranZact
TranZact is a cloud-based software specially made for Indian SME (Small and Medium Enterprises) manufacturers. It uses SSL data encryption and PCI DSS certification to improve security levels. It digitizes operations and helps manufacturers in purchases, production, sales, quotations, and inventory management. With TranZact Inventory, you can have real-time access to inventory updates and production processes, from enquiry to dispatch.
TranZact software automatically sends you alerts to remind you of important tasks like inventory restocking. It improves visibility and control over your entire manufacturing process, from analyzing customer enquiries to the final product dispatch.
Let’s take a look at all the benefits you can gain by implementing TranZact inventory management software in your manufacturing business.
- Provides detailed information about your stock’s value and products’ movement history to plan your production for maximum output.
- Easily provides Materials Requirements Planning (MRP) reports to improve your production process.
- Its different modules help in production costing and scrap tracking to minimize waste and control production costs.
- Helps you easily track purchase requisitions to make sure you can buy the necessary raw materials on time to avoid disruptions.
- Helps you improve your make-to-order planning to manage your customer orders.
- Helps you manage your leads so that you can convert them into customers.
- Helps you manage your suppliers and subcontractors to improve coordination and supply chain management.
- Records all your transaction history to keep an eye on your expenses and avoid misunderstandings.
- Helps you comply with GST regulations to avoid legal issues and increase your business’s credibility.
- Allows you to integrate with Tally, Gmail, WhatsApp, etc., to improve communication and speed up purchase, production, and sales processes.
The biggest advantage of TranZact is that it is very easy to use and focused on solving core 4 problems: Sales, Purchase, Inventory and Planning in Indian SME Manufacturing companies.
Feature Comparison: Odoo Inventory vs TranZact
Both Odoo Inventory and TranZact offer various features to manage your inventory and improve production and sales processes. Some inventory management features are the same in both software, but some are different.
For example, the features of Odoo inventory improve your internal operations, including warehouse management. On the other hand, the features of TranZact are customizable and improve your inventory, production, and order management process. Here is a table comparison of the features of Odoo inventory and TranZact for easier understanding.
| Features | Odoo Inventory | TranZact |
|---|---|---|
| API Integration | Yes | Yes |
| Budgeting | Yes | Yes |
| Calendar Management | Yes | No |
| Customer Management | Yes | Yes |
| Dashboard | Yes | Yes |
| Data Export | Yes | Yes |
| Data Import | Yes | Yes |
| Data Visualization | No | Yes |
| External Integrations | No | Yes |
| Forecasting | Yes | Yes |
| Inventory Tracking | Yes | Yes |
| Multi-User | Yes | Yes |
| Notifications | No | Yes |
| Scheduling | Yes | Yes |
| Supplier Management | Yes | Yes |
| Third-Party Plugins/Add-Ons | Yes | Yes |
| Product Catalog | Yes | No |
| Shipping Management | Yes | Yes |
| Order management | Yes | Yes |
| Status Notifications | No | Yes |
| Warehouse Management | Yes | Yes |
Implementation and Customisation
Implementation of a software and customisation for proper integrating it into daily business processes is extremely important factor to consider. Below is a detailed description of implementation process by Odoo and TranZact.
Odoo has fixed implementation hours(100 hours) and the implementation is primarily done online. For offline implementation, it requires you to pay extra charges.
TranZact, on the other hand, is implemented in just 14 days and is done 100% online. You get one point of contact who onboards you onto the software and is with you till your team is completely onboard. There is live chat support and free lifetime support on all plans. On regular intervals, TranZact also provides retraining.
For customisation on Oddo, you need to contact Channel Partner. For example, there is no in-built Tally integration and to get that you have to contact Channel Partner.
However, with TranZact, all features and settings along with customization and integrations are done by the TranZact team at no extra cost.
Pricing
It is important to analyze how much you need to spend on your inventory management software to make profitable decisions. Below, we will compare Odoo inventory pricing with TranZact inventory pricing for different manufacturing needs.
Odoo Inventory Pricing Plans
Below are the key highlights of pricing plans from Odoo inventory:
- Odoo Inventory offers a free-forever plan that can be great for small businesses. This plan allows one user to operate by accessing the limited features of Odoo Inventory.
- It offers a paid subscription starting at Rs.580/user/month. New customers can get a discount on the initial number of users they purchase.
- However, in Odoo, you must purchase all 72 apps, even if you are not using them.
- Further, as per many community comments, the implementation charges for Odoo are quite high.
- Additionally, extra monthly charges apply for the maintenance of extra modules.
- Pricing may also change depending on number of custom fields you are using.
No further information was shared on Odoo’s page.
TranZact Inventory Pricing Plans
TranZact offers flexible pricing plans, and you can choose one that fits your business requirements. Below are the details of TranZact’s pricing plans:
- With TranZact, there are no usage based charges. You only pay for what you want.
- It offers a free plan that provides features like inventory tracking, stock history, stock valuation, etc. It is a great option for Indian startups to manage their operations in the beginning.
- Its small plan is priced at Rs.3,999 per month. Up to five users can operate the software for different tasks in this plan. This plan offers features like advanced lead management, e-invoicing, batch tracking, WhatsApp/Tally/ Zoho/ integration, etc.
- Its medium plan is priced at Rs.9,999 per month. Up to 10 users can operate the software in this plan. This offers features like multi-level bills of material, production costing, document approvals, Google Sheets MIS integration, etc.
- Its enterprise plan is priced at Rs.29,999 per month. At least 15 users can operate the software in this plan. This plan comes with advanced business intelligence and reporting tools and enhanced production and inventory management capabilities.
Upgrade Your Inventory Management With TranZact
TranZact is the easiest software to upgrade your inventory management. It is specially made for Indian MSME manufacturers. More than 10,000 Indian SME manufacturers are using TranZact to simplify and speed up their processes and increase business efficiency.
Whether you want to analyze historical data for demand forecasting or keep an eye on stock levels to avoid disruption in production, TranZact helps you with everything. It further improves communication with your in-house team, suppliers, and customers.
It also records your transaction history to avoid misunderstandings and help you make informed decisions. You can implement it in your business within 14 days without any implementation cost. So, upgrade your inventory management and improve your business productivity with TranZact today.
FAQs
1. Is Odoo inventory better than TranZact?
Odoo inventory offers valuable features for manufacturers, but TranZact provides additional features, such as data visualization, external integrations, and notifications, that make it a better choice.
2. Can Excel be used as an alternative to inventory management software?
You can use Excel for basic inventory management. But as your business grows, you need to implement specialized software to manage tasks like inventory tracking, restocking, real-time monitoring, etc.
3. Odoo Inventory or TranZact: Which Is Ideal for Your Industry?
Even though Odoo inventory can help you manage various operations, TranZact can be the ideal solution for your manufacturing business. TranZact’s customizable features, flexible pricing plans, and easy integration make it ideal for your industry.
4. What are the unique features of TranZact?
Some unique features of TranZact are advanced lead management, automated alerts, and scrap tracking.
5. What are the prices of Odoo inventory and TranZact?
Odoo inventory software is priced at Rs.2073.44 per month per user, While TranZact offers multiple pricing plans, a free plan, a small plan at Rs.3,999, a medium plan at Rs.9,999, and an enterprise plan at Rs.29,999 per month.
6. Which is the best software for my new manufacturing industry?
If you are running a new manufacturing industry in India, then you should prefer TranZact, as it can help you manage procurement, production, and sales activities with ease.
7. What are the benefits of using inventory management software?
The key benefits of using inventory management software are as follows:
- Speed Up Tasks
- Reduced Human Errors
- Accurate Demand Forecasts
- Balanced Stock Levels
- Improved Production Planning
- Real-Time MonitoringAdaptability And Flexibility
