Inventory is designed to meet the dictates of the marketplace and support the company's strategic plan. The many changes in market demand, new opportunities due to worldwide marketing, global sourcing of materials, and new manufacturing technology, means many companies need to change their Inventory Management approach and change the process for Inventory Control.
Despite the many changes that companies go through, the basic principles of Inventory remain the same. Some of the new approaches and techniques are wrapped in new terminology, but the underlying principles for accomplishing good Inventory Management and Inventory activities have not changed.
The Inventory system provides information to efficiently manage the flow of materials, effectively utilize people and equipment, coordinate internal activities, and communicate with customers.
The basic building blocks for the Inventory system are:
Sales Forecasting based on Consumption
ABC and FMS Analysis
Material Requirements Planning using Standard costing
Inventory is the active control program which allows the management of sales, purchases and payments.
Inventory software helps create invoices, purchase orders, receiving lists and payment receipts .The Inventory software system configured to your warehouse, retail or product line will help to create revenue for your company. The Inventory will control operating costs and provide better understanding of your smart stock.
Major features:
- Stock Summary Report
- Stock Ledger
- Consumption Analysis
- ABC Analysis
- Bank Hypothecation Statement (optional)
- Non Moving items
- FMS analysis
- Valuation of Closing stock
- Reorder level report
- Customized screen
- Button click Inventory History (Receipts, Issues, Transfer and adjustments)
Purchase Order System
Any organisation, large or small needs to know what is being purchased, the price being paid for the purchase and the vendors from whom products are being bought. With this information in your hands, you can easily identify areas to reduce spending, enforce policies and eliminate redundancies.
Purchase Order System offers you a rich set of features for handling purchase orders.
Major Features include
- Vendor Look Up by Name or Number
- Complete or partial purchase order receiving
- Creation and editing of Purchase Order and Vendor Notes
- Tracking of vendor returns with reason for return
- Purchase orders printed with item detail for verification
- Print inventory tags for entire purchase order or only items received
- Direct access to inventory and sales reports from purchase order screen
- Complete reporting of quantities on order and received
- Forcible Closures of Purchase Orders
- Automatic Closure of Purchase Orders
- Vendor analysis based on Pricing, Quality, delivery and Payment terms
Benefits
- Centralized purchasing avoids duplication and makes tracking of POs easier.
- Compare prices from different vendors before placing a purchase order.
- If you analyze the life cycle of a purchase order in your company, you'll likely find that the process could be made more efficient.
With the Purchase Order System system, misplaced, illegible, and incomplete purchase orders become a thing of the past. When you design your customized purchase order form, you can specify fields that must be completed by the requesting employee. Once the employee submits the form, it will automatically route to the correct parties. The software can also keep records of past purchase orders, greatly simplifying file management. Any data in Purchase Order System can easily be analyzed and integrated into reports or captured for use in other forms and applications.
The management of purchase orders and other forms doesn't need to be time- consuming.
Go in for our Purchase Order system and become more smarter in future purchases !!!! |
