Purchase & Inventory Management

Similar to the parameters in the financial management system there are parameters, which the user has to set according to the rules prevailing in the organisation. The user has to define whether a cost sheet is required for PO, the costing method for evaluation of inventory (weighted average or actual cost), & the method of issue of items (LIFO/FIFO).

 The user can decide if authorization of PO’s is required. In case the user decides to have the authorization he can select the number of levels of authorization.

 The user has the option to decide for each and every document in the system whether he would like to have manual / auto numbering system or a combination of both. This option has to be selected while setting the inventory parameters.

An item master can be created which will be common throughout the organisation. The user can define its own item codes for different type of items under various groups and subgroups. The item master also has the provision of auto generation of code numbers for the items. User can define / view the maximum, minimum and re-order level quantity in the system by item. The user can also define his own formula for determine the re-order level for any item based on its previous consumption. This will help in guarding against the inventory levels going below the defined levels to avoid shortages of items at any point of time.

 The item master also records information like the batch number, expiry date, quality check required or not, Economic order quantity, variation %age in quantity from PO, while accepting the materials from vendors.

 One can also categorize the items in terms of ABC or VED or FSN items for analysis and reporting purposes.

The user can create the vendor master which will be used to record the details of the vendor like address, contact details, items supplied etc. The details relating to tax / duty / registration are also noted in the master. These details are used while preparing a comparative statement of quotations, generating a PO or making payments.

Stock inventory to be increased.

Creation of Requisition to the purchase department

Float enquiry to the vendors

Comparison analysis of quotations and terms of different vendors

Various types of purchase models (General, Rate Contract, Consignment and Service Order)

Historical data for purchase analysis 

Purchase authorization at different levels

Taxation and discounts at assets and PO level 

Various types of Goods Receive Note (Purchase Order, Cash Purchase and Credit Purchase)

Quality Control Check 

Managing cost sheets ( freight, customs, land, transportation and other charges) 

GRN authorization at different levels

An adjustment note will be prepared automatically at the time of receiving of any item in any store / department, if the received quantity is less than the issued quantity, or if the user itself accepts less quantity.    

This module is used for verifying the actual stock with system stock in various stores / departments on a particular date. 

Difference between the actual and system stock (either excess or less) if any can be entered. The stock will be updated accordingly and adjustment note created for the variation.

Interface with 3rd party applications for e.g. HIS, LIS, Hotel PMS, Financial Solutions and others. 

Interface with Bar Codes & RFID

Interface with SMS / Email Gateway