Features of Inventory Management software
Identify consumption pattern:
- Item categories in weekly, fortnightly, monthly and quarterly category
- Identification of non-moving items
- Identification of current consumption rate
- Define VED items and lead time
Define Source of Supply
- Define supply category e.g. Open Market, Local
- Review No of Suppliers
- Set standard lead time and safety days based on source of supply
Define Optimum Inventory Level
- Lead Time, Reorder Level, Reorder Quantity
- Safety Stock, Max Stock
Rate Contract
- Identify and declare items and quantity for rate contract
- Automate RFQ, Proposal submission, Comparison process for Rate Contract
- Release Order for items in rate contract
- Implementation of rate contract rules
Vendor Portal
- Vendor Registration & Profiling
- Automation of Purchase, Stores & Accounts communication
- Vendor Rating, Reports & Dashboard
Group Level Consolidation
- Consolidation of Vendors, Items, Group, Sub Group
- Consolidation of indents
- Exchange of inventory availability
- Consolidation of vendor performance at group level
Inventory management software from Force-Intellect ensures low wastage of materials and smooth functioning of supply chain.
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