"Less emphasis on inventory, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles."
- Paul A. Volcker
An efficient and up to date Stores and Inventory management system of an enterprise enables it to instantly respond to material requirements of other departments such as Production, Purchase and Quality Control. Its prime responsibility is to manage various warehouses of the enterprise which makes it accountable for all the material lying in them and to help other departments meet the deadlines by providing them materials on time.
Being a highly active area, it needs to be continuously updated with the actual figures. Stores and Inventory Module of IMMS allows the enterprise to effortlessly manage all its material transactions such as issues, receipts, rejections and returns to/from the vendors/customers, Work Order related transactions as well as inter stores transactions. Besides these it also takes care of Extra Requisitions and items which are scrap.
Stores and Inventory Management
- Maintains Receipts against purchases. Goods can be received against
- Regular Purchase Order / Import Purchase Order / Delivery Order
- Labor Purchase Order
- Capital Goods
- Accepts information such as Vendor, Warehouse, Challan Number and Date.
- A list of Purchase Orders is available to select against which goods are to be received.
- Displays a list of items belonging to the selected Purchase Order(s) which are pending for delivery. Accepts the Challan Quantity of each item.
- Allows entering the values of rate codes which are defined as "at actual" in the Rate Structure. New Rate Structure may vary from the Rate Structure mentioned in the Purchase Order.
- Other challan details such as Transporter and Invoice Details are also recorded.
- Any other information related to the challan in the form of a soft copy attachment.
- Maintains Receipts against Cash Purchases. Stops from making cash purchases more than the allowed value.
- Authorization of Goods Receipts Notes against Purchase Orders and Cash Purchases.
- Draft or final print out of Goods Receipt Notes for which Quality Check is still pending or completed.
- Maintains Issues of material to Shop Floor against Work Orders in progress or against Requisitions raised in Production Module.
- Maintains Issues of Extra Material to Shop Floor against existing Extra Requisitions raised in Production Module.
- Reconciliation of physical stock with the book stock through Material Adjustment Voucher. Existing quantity of the item in the books within its warehouse is displayed. Actual physical quantity is accepted with the reason.
- Authorization and hard copy of Material Adjustment Voucher
- Keeps track of Inter Transfer of materials from one warehouse to another warehouse. Transfer of materials is possible only between either excisable warehouses or non-excisable warehouses. Checks that quantity to be transferred should not be more than existing quantity in the warehouse.
- Authorization and hard copy of Transfer Notes.
- Maintains materials received from customers in a particular warehouse. Option to link item with the existing Customer Order apart from storing the Quantity received.
- Authorization and hard copy of Customer Supplied GRN
- Preparation of Delivery Challans for Customer or Vendor. Also specifies whether or not the materials belonging to the Challan are returnable and chargeable. Material information includes its Warehouse, Issue quantity and the Rate at which it is issued.
- Authorization and hard copy of the Delivery Challan.
- Maintains Goods Received against existing returnable Delivery Challans from customer or vendor. A list of materials belonging to the selected Delivery Challan is available to enter received quantity.
- Authorization and hard copy of the Goods Receipt Note for Delivery Challan.
- Option to Close authorized and returnable Delivery Challans.
- Maintains Delivery Challans for Rejected material from vendors. Existing Vendor Rejection Notes are available from the Quality Control Module to select from. Rejected Quantity for the materials can be entered.
- Option to receive Scrap Items in a warehouse against existing Work Orders or Labor Job Gate Pass.
- Authorization of Scrap Receipts.
- Receipt of materials against undergoing or completed Work Orders belonging to a Sales Job Order.
Open Work Order Maintenance
- Maintains various Labor related Unit of Measurements and their respective Rates for Open Work Orders.
- Maintains Open Work Orders for two groups of items - those which are consumed by their dimensions and those which are not.
- Release of Open Work Orders to issue material against them.
- Maintains Issues against released Open Work Orders. Keeps track of the issuer and the receiver along with the item belonging to the selected Open Work Order. Allows selecting the Warehouse. Quantity issued can not be more than the in-hand quantity of the item in that warehouse.
- Allows returning the previously Issued quantity for a particular Open Work Order. Also displays total Issued Quantity, Used Quantity and maximum Return Quantity of the item for reference. Return Quantity can not be more than the maximum Return Quantity.
- Allows receiving the final item against the issue along with its Labor Rate, Labor quantity and Received quantity from the respective work centre. Receipt Rate is calculated accordingly.
- Cancellation of Open Work Order in case of not even a single issue against it.
- Closure of Open Work Order in case of no pending quantity to be received against Issues or no Issues at all.
Physical Stock Maintenance
- Sets up a counting schedule for one or more warehouse, Item class (A, B or C), Item Type and Snap Shot equal to zero, more than zero or both.
- Maintenance and printing of Tags.
- Reconciliation of Snap Shot quantity with Physical Quantity for items with discrepancy.
- Difference between Physical and Book Stock in a report.
Reporting System of Stores and Inventory Module
- GRN Report / Summary / Register
- Kardex Print with Value
- Warehouse Inventory Report
- Warehouse Transfer Report of Items
- Product Serial No. Report
- Work In Progress Inquiry
- Goods Discrepancy Note Print
- Stock Statement
- With value
- Item wise / Batch wise
- Item, Warehouse, Material, Class, UOM wise
- Adjustment Report
- Issue Register
- Delivery Challan Register
- Inventory Valuation Report
- Item Allocation against Work Order / Sales Job Order
- Stock Ageing Report
- Material Movement Report
- Work Order Receipt Detail
- Report for GRNs Generated for Purchase Orders
- Transaction wise Issue / Receipt Report
- Pending Vendor Rejection Report
- Pending Delivery Challan of Vendor Rejection Report
- Receipt of Consignment Challan
- Lot Tracking and Traceability Report
- Item Stock Report
- Safely Stock with Pending Purchase Order Quantity
- Short Material Receipt Intimation Report
- GRN Report for Bill Passing
- Stock Statement for Material Sent for Job Work
- Work in Progress Status Report (Graphical)
- Loan / free Delivery Challan Report
- FSN Report
- ABC Analysis
- Stock Statement As on Date
- Kardex Details for Rejected Material
- Daily GRN Report with Bifurcation of Basic and all other Taxes
- CSP GRN Register
- Form-57 F(4) Inward Report
- Annexture - 159 Outward Report
- Form-57 F(4) Outward Register
- Annexture - 159 Inward Report
- CSP 57F(4) / 159(III) Expiry Report
- Required Indent Quantity As on Date
- GRN-QC-Bill Passing Date Report