Manufacturing Inventory Management System(MIMS)
MIMS comprises of host of Integrated functionality including, Manufacturing, Inventory & Material Management, Customer Management with Purchase Order, Supplier and Purchase Management. The depth of functionality means that the solution can be readily adapted to support a wide range of operational execution styles. MIMS is designed with operational efficiency in mind.
Inventory Management is one of the basic problems for a company. It may cause a lot of paperwork, if there is no automated system available. Implementing such a system is possible but there are a lot of preliminary works such as determination of the requirements, system structure decision—software requirements and determination of the software tools.
The MIMS uses a web-based interface to display inventory data to the stock manager client. The product will use of open-source software primarily due to cost of implementation.
The first feature of the Stock Manager Client web interface component allows the Stock Manager Client to view the current stock of products, along with the capabilities of searching and sorting the products.
The second feature of the Stock Manager Client web interface will allow the user to modify application settings, such as the threshold for email notifications, frequency of inventory scans (daily at a particular hour, weekly, monthly, etc.), and security settings.
The third feature of the Stock Manager Client web interface will allow the user to update the inventory during the restocking process.
However, the system merely records sales and restocking data and provides notification of low stock at any location through email at a specified interval. The goal is to reduce the strain of tracking rather than to handle all store maintenance. Further features may include the ability to generate reports of sales, but again the interpretation is left to the management. In addition, since theft does occasionally occur, the system provides solutions for confirming the store inventory and for correcting stock quantities.
Since a web interface will be used, a network that supports the HTTP/HTTPS protocol must exist, whether it is a private network for an isolated customer deployment or an Internet connection for a multi-site customer deployment. The bandwidth of the network depends on the frequency of transactions.
- Custom Reporting – Flexible reporting system needed, where user can select their desired fields and generate the. Generated report can be export in different format like Pdf, Excel etc.
- Import Data From Excel File – Some data should be imported from a defined excel file like Style-wise specification.
- Export Report to Excel/Pdf – All reports should be export in different format like excel, Pdf etc.
- Email Facility: Some reports can be emailed as per defined template and rules.
An efficient and robust Purchasing module is key for all distributors. If you don’t track who you buy from, what you buy from them, the cost items are purchased for, and how long it will take get to you, it will be impossible to keep your shelves stocked and service your customers. Not having this information leads to procedural inefficiencies, inferior customer service, and reduced profitability.
Purchasing will be integrated with Inventory Control, Production Order Processing, Order Entry you have a comprehensive purchasing system that will track your purchases from the moment they are ordered to the moment your vendor invoices you. The open order report lets you know what is coming in and when; the receipt of merchandise updates your quantity on hand, fills customer orders and production work orders, and accrues the liability to your vendor in the GL; the receipt flows through to Accounts Payable when the vendor invoice is received so you are assured you will always only pay for what you received.
- Raw Material Purchase Order Types –supports many different types of orders such as:
- IMP – used for Purchase from outside of Country
- LOC – used for Purchase from Local Market
- Modular Integration – Direct integration with Inventory, Replenishment, Production Order Processing, Entry
- Item Catalogs – the ability to store multiple vendors, vendor item code, and vendor cost per item. This makes data entry more efficient and ensures that the costs used on your purchase orders are accurate
- Approved Vendor Lists- restrict which vendors items can be purchased from
- Compliant Vendor Tracking- track which vendors have not yet sent Full Material Disclosure information on items purchased from them
- Non Stock Items – purchase orders can be processed for items not stocked in inventory such as supplies, capital expenditures, and services
- Requisitions – automatic creation of requisitions for customer orders that in turn create purchase orders to your vendors/supplier
- Drop Shipments – by specifying in order entry via order type, a drop ship customer order automatically creates a vendor purchase order to your preferred vendor at your contract cost
- Automatic Reordering – if the Replenishment module is also in use, purchase orders will be created automatically for items that fall below user specified reorder levels
- Automatic Release of Customer Order – when purchase orders are received, in addition to updating your quantity on hand and General Ledger, any items on order will be released in oldest order date order
- Interface with Accounts– when receive the vendor invoice there is no need to enter the purchase information again to record the liability. Simply bring up the PO, enter the invoice number and date, and post to Accounts Payable thereby creating an open payable item to the vendor. If there are any variances in cost between the purchase order cost and invoice cost, these will be listed on the Price Change report for your review
Reporting and Analysis:
- Open Purchase Order Summary By PO Number, Buyer, or Vendor
- Open Purchase Order Detail By PO Number, Buyer, or Vendor
- Purchasing log
- Price Change Report (PO vs. Vendor Invoice)
- Expected Receipts Report
- Direct/Drop Ship Status Report
- Purchase Replenishment Advice
- Pending Purchase Orders
- Stock Received vs Invoice
- Stock Received Not Invoiced
Customer Purchase Order (PO) Control
Accurate and timely processing of customer orders is one of the most critical functions of any business. When a customer calls to place an order, you need to have a lot of information that is easily accessible. You need to see bill to and ship to addresses, the availability of the items being ordered or substitute items if they are not, the unit pricing the customer is entitled to, and their shipping terms. Once the order is entered you need to ship and invoice the merchandise in a timely manner. Effective order processing leads to happy customers and happy customers lead to a successful and profitable business.
The Order Entry module when integrated with the Inventory Management, Production Order Processing and Purchasing gives you all of the functionality you need to process customer orders quickly and accurately. It provides a comprehensive system for tracking and managing customer orders and is designed with real time transaction updating and complete information access. You can enter orders of many types: quotations that can then be converted to regular orders by merely changing the order type, drop ship orders shipped directly from your vendor, blanket sales orders that can be released and shipped in increments, credit and debit memos, and returned materials orders. Item availability and pricing is checked real time. Once the order is entered, your shipping department can print picking tickets and packing lists and ship the order. The final step is to invoice your customer and when it is posted the quantity on hand is reduced, the open AR record for the customer is created, and the transaction is recorded in your General Ledger.
- Modular Integration – Direct integration with Inventory Control, Production Order Processing, Purchasing, Accounts Receivable and General Ledger modules
- Invoice Generation– Invoice will be generated with single/multiple PO.
- Delivery Challan Generation– A delivery challan will be generated when invoice is generated.
- Style Setup-PO wise Style Configuration defines to be selected and included in the production of an item. Features are defined in the form at the time an order is entered for a ‘Style’ item.
- Supports make to order sales orders and automatically creates the production work order
- Pricing – pricing can be set up for specific order types, specific items, a class of items, specific customers, or a group of like customers. The price can be offered for a specific date range with quantity breaks and can be a specific amount, a percent off list, or a markup from cost
- Alias Item Numbers – you can set up alias code for your inventory items that are customer specific. This is helpful during data entry when a customer calls in an order using their item codes. After entering their code, the program converts the code to your item code. The alias codes prints on all sales order documents
- Notes – when entering an order any customer notes, shipping notes, and credit notes automatically display for the user to review. You also have the ability to enter order specific notes that will print on the sales order documents you specify
- Profitability Check – you can set either globally or by item the required profit margin needed. If the price entered is below this you will receive a warning message. A price variance report is also available that lists any items sold below the required profit margin along with the customer code and the user that entered the price
- Availability Check – you have access to the quantity available for sale in all of your distribution centers on one screen and a list of available substitute items should the item not be available.
- Cross Sell Items – automatically recommends items that can be sold together
- Interface with Accounts– when generate an invoice then it will distribute in Accounts department. User can print it also export in excel file.
Reporting and Analysis:
- Order Acknowledgements, Production and Invoices
- Invoice List
- Open order reports by order number, salesperson, customer, and item
- Daily Sales Register
- Sales History reports by product, customer, and salesperson
- Price Variance Report
- Requisitions Created From Order Entry
- Order Forecasting report
- Order Status Report
This is the comprehensive building block for the modular Manufacturing system. Control inventory levels of raw material and WIP, Use multi-level bills of material, revise BOM’s, conduct physical inventory cycle counting, and process production work orders.
An organization in manufacturing industry requires speed, precision, and accuracy in customer demand management, to stay ahead of the competition. MIMS is designed to support the various manufacturing processes such as discrete, make-to-order, engineer-to-order, configure-to-order, mixed-mode, and make-to-stock environments.
Reporting and Analysis:
- Material Requisition– Generate Raw Material requisition depends on Customer Purchase Order.
Create Manual Raw Material requisition manually without any Purchase Order.
- Manage Daily Production information for respective Purchase Order.
- Advanced Production – Predict the cost of every job and track performance as manufacturing orders for standard assemblies or special one-off items move through the shop.
- Material Requirements Planning – Determine purchasing and production needs by analyzing current inventory, open orders and sales orders to spot impending shortages and respond by creating purchase and production orders.
Reporting and Analysis:
- Raw Material requisition Report
- Raw Material Issue Report
- Daily Production Report
- Work In Progress (WIP) Report
One of the biggest factors in cash flow management is the effective management of inventory levels because inventory is one of the largest investments a company makes. A good software solution needs to provide you with up to date information on what’s in stock, where it’s located, how much of it you sell, and when you will run out. Without this information you run the risk of stock outs and overstocks which in turn can produce inferior customer service and reduced profitability due to lost sales and high carrying costs.
- Modular Integration – Direct integration with Purchasing, Production Work Orders
- Item Code Unit Of Measure – can have multiple units of measure per item
- Item Classification – assign an item class code to each item for reporting purposes or to group for special pricing discounts
- Ability to Rename, and Merge Inventory Items
- Incremental Units – for items that you must sell or purchase in increments of 2 or more, set the incremental quantity so that purchases orders and customer orders must have quantities in these increments
- Serial and Lot Number Tracking
- Traceability and Recall Management
- Quality Management
- Cost Method – cost method can be set to average
- Transaction History – ability to see per item the sales and purchasing history online for each month with drilldown to document detail
- Item Status – ability to drill down from the quantity on hand to see:
- Quantity allocated to customer orders with order detail
- Quantity on order with order detail
- Outstanding purchase orders and the estimated receipt date with PO detail
- Multiple warehouses – a separate inventory for each item can be maintained at any number of geographical locations
- Product/Raw Material List Category: This allows you to categorize products. If you have numerous products, categorizing similar products together can help in understanding product performance.
- Re-order point- Quantity that you set for each product, where when the current inventory level hits that amount, you will place a new purchase order to replenish inventory.
- Physical Count – inventory can be easily counted and adjusted. Count sheets are printed, variances, are entered, a variance report lists quantity and valuation differences, and the post program updates the quantity on hand and General Ledger
- Starting Inventory: Quantity of Product that you have as finished goods when you begin using this template. Enter only once.
Reporting and Analysis
- Product Availability
- Raw Material Availability
- Stock List Report
- Stock Status Report
- Physical Inventory Reports ( count sheets and variance report)
- Price/Cost List
- Reorder Advice
- Purchase/Sales History
- Cost Valuation
- Inventory Turns Report
- Inventory Status
- Lot Expiration Report
- Vendor Lead Time Report
- Item Movement Audit Report
- Item Lead Time Analysis
- Serial/Lot Composition Inquiry