The objective of Inventory Management is to supply materials of the right quality,
in the right quantity at the right time, both to internal as well as external customers.
Reckoner Inventory Management provides a systematic approach of furnishing accurate
information to the right person with a view to assist him in optimizing the available
inventory resources.
It is an effective tool giving information about stock transactions, delivery dates,
and historical and future anticipated consumption. Its extensive reporting system
gives overall inventory status across the enterprise.
Inventory Resources of an organization consist of Raw Material, Packing Material,
General stores, Semi-Finished Goods, Finished Goods and Capital Goods, which in
Reckoner Inventory can be classified under Stock Group, Stock type and Stock Category
in a hierarchical structure.
In Reckoner Inventory there are certain master definitions such as Godown (Storage
Location) definition based upon different Stock Groups, Item Definition and Package
definition.
|
|
The tracking of the material as it passes through a company is accomplished by a
series of processes, which are formally recorded in Reckoner. In Reckoner, Gate
Entry, GRIN (Goods Receipt Inspection Report),
Requisition and Material Issue documents can be defined separately for all the Stock Groups.
Gate Entry is registered once goods are received from vendor and this process is
essentially followed in case of Raw Material and Packing Material.
As soon as goods are received from an external party or internally from production
in to the Godowns (storage locations) and inspected for quality assurance, a GRIN
document is generated and stock ledgers are updated. Each material is allocated
a separate lot number when received. Now, a requisition received for any stock group
can be entertained. Material is issued to various cost centres against a requisition.
Quality management maintains records that specify the different tests to be performed
on material procured from external suppliers and from shop floor at the time of
Goods Receipt and the inspection results are declared.
|
|
Reckoner Inventory locates the Purchase Order document and copies default data from
it to form a Good Receipt document whenever goods are received against a Purchase
Order.
Reckoner Inventory communicates with Material Requirement Planning to ensure that
the organization
has what it needs to have, ready to use, before it begins its production
operations.
Reckoner Production issues
finished goods to Reckoner Inventory for inspection and
Goods Receipt in Godown. The Stock Ledger is simultaneously updated.
Interacts with Financial accounting system as well as costing system and marks all
the stock transactions for the use they have been put to.
Reckoner Inventory is closely integrated with Reckoner Sales to manage better delivery
and planned dispatch of items.
System maintains inventory structure residing at multiple locations of the organization,
which enables an organization to keep track of their inventory on a regular basis,
online, at any time they require.
|
