Hi Navanit,
Yes you can use Alert Management and SBO mailer service to achieve this task.
First you need to set create a query.
Then go to Alert Management and assign a query and set frequency.
Go through the link below for step to step on how to set alert in SAP B1
Adding a User-Defined Alert-SAP b1
After you set an alert you can use SBO mailer services to send an email whenever the saved query executes.
Find below link to set SBO mailer Services.
http://www.vision33.com/media/181630/how%20to%20schedule%20report%20execution%20and%20mailing.pdf
Let me know if you need more information.
Thanks,
Harshal