...SOFIENT ERP : Inventory Management
 
Working with optimum inventories is a major task cut out for all business organizations to remain competitive in the current business environment. SOFIENT Inventory Management module covers all stock related functions of an organization. SOFIENT Inventory handles all the store activities of issues, dispatches, receipts and quality control. The lot wise stock of each item is maintained and various MIS are provided for tracking stock movement. SOFIENT Inventory is integrated with Sales and marketing, Purchase, Finance & accounts, Equipment Maintenance, Production Scheduling and manufacturing. Features & Highlights:
  • Maintenance of stock code and Multiple Levels of Classification of items
  • Excisable items - Definition and Chapter allocation
  • Multiple units of measurement
  • Alternate items for Production Planning , if any
  • Handling of non-stock low value items
  • Lotwise tracking of inventory at shop floor and main stores
  • Tracking of item quantity on various parameters like in stock, available, reserved, ordered, rejected and defective.
  • Stock Valuation - LIFO/FIFO/weighted average
  • Material Requisition from different users
  • Receiving material against sales order processing, material requirement, subcontracting, gate pass and production requisition
  • Landed Rate of Items
  • Quality Control based on QC parameters
  • Handling Material Rejections and Rejected Material dispatch to subcontractors
  • Linking of GRN to PO and Invoice
  • Generation of returnable/non returnable Gate pass
  • Cenvat claim for capital goods
  • Physical verification of stock
  • Reallocation of reworkable stock
  • Handling of Multiple warehouses and consolidation including Stock transfer, Receipts from other warehouse
Reports:
  • Stock ledger
  • ABC Analysis
  • Movement Analysis
  • Finished Goods Aging Analysis
  • Consumption Analysis and integration with GL
  • Requirement Analysis
  • Excise Ledgers - PLA, RG23A Part I, RG23A Part II, RG23C Part I, RG23C Part II, Form R.T. 12 and Daily Stock Account
  • Statutory reports
  • Repair Register - Account of duty paid goods received for reprocessing and repair
  • Processing Register - Stock register for goods sent processing job work
  • Form D3 - Sales return
  • Rejection Reports
  • Item wise transaction detail
  • F/S/N analysis
  • Goods received status report
  • All registers of stock ledger for any period including Receipt register, Issue Register, Despatch Register
Advantages:
  • Online status of item quantity in terms of in stock, ordered, rejected and reworkable quantities.
  • Lot wise tracking of items which provides ease of tracking the stock movement
  • Automation of excise registers
  • In depth analysis to help maintain optimum stock levels