Procurement Management
What Is Procurement ?
Procurement is the process a company uses to plan, source, purchase, and pay for goods and services. And procurement cycle is a sequence of events that result in purchasing goods and services.
Existing System
All tasks were managed solely through Excel; no specialized software was used. Every aspect of the work, from data handling to analysis, was meticulously maintained within Excel spreadsheets.
Requirement
Application should capture all small things that help to make procurement possible. From requisition to tracking, manage every step of procurement lifecycle .
Application Overview
This application provides a comprehensive suite of functionalities . Users can efficiently manage customers. Furthermore, the system allows definition of Bills of Material (BOM) for all products and items, ensuring accurate inventory management and cost analysis. With features enabling the capture of minimum stock levels and seamless inventory tracking, businesses can maintain optimal stock levels and streamline supply chain operations. Moreover, the application automates the generation of Goods Receipt Note (GRN) numbers upon goods reception. By leveraging advanced algorithms, the system analyzes required stock levels against current inventory. Additionally, users can effortlessly create and approve purchase orders, streamlining procurement processes. Integrated invoice mapping functionalities further enhance financial record-keeping accuracy, ensuring compliance and efficiency across all transactions.
Convenience Achieved
Digitizing procurement processes is helping business to do what they've been doing, but in much better way.
This increases operational efficiency.
It automates tasks like purchase order generation ,invoice creation,GRN creation.
Saves money and time in a business.
You can customize your procurement solution to suit processes followed in your organization.
Order Management
What Is Order Management ?
Order management is the process of order capturing, tracking, and fulfilling customer orders. The order management process begins when an order is placed and ends when the customer receives their package.
Existing system
The user was creating orders in Excel. Reports were generated manually in Excel.
Requirement
Business wanted to digitize the order creation and track each milestone of the order. Also there will be different roles who will update their milestone's status ,remark ect. Based on order life cycle specific reports will be generated.
Application Overview
This application manages sales/service orders in multiple sales channels. An end to end solution to capture the order from creation till customer receives the order in time. This application presented a diverse array of capabilities to businesses, spanning several key areas. It enabled users to define and manage customer and vendor profiles, including local vendors, across different regions and currencies. Additionally, it facilitated order tracking through various milestones such as Order Approval, Shipment, Installation, and Payment, ensuring clear visibility and accountability throughout the entire process. The system also supported multi-currency management for orders, accommodating international transactions seamlessly. Moreover, it provided intuitive dashboards and robust report generation features, empowering users with comprehensive data visualization and analysis tools to drive informed decision-making and performance assessment.
Convenience Achieved
User Friendly and less data entry compared to excel in order creation.
Which increased operational efficiency.
provides real-time visibility into order status.
Data Driven decisions.
Inventory/Stock Management
What Is Stock Management ?
Stock management, also known as inventory management, is a crucial component of supply chain management that involves overseeing the flow of goods from manufacturers to warehouses to retail outlets and ultimately to customers.The primary goal of stock management is to ensure that the right quantity of products is available at the right time.
Existing system
The existing system diligently tracked various facets of operations, including orders placed, cancellations, material receipts, and material issuances.
Requirement
Business wanted comprehensive analysis on existing data to assess their current stock position, evaluate the funds tied up in pending orders, identify opportunities for order cancellations, and pinpoint products experiencing sudden spikes in demand. By collecting and analyzing data on inventory levels, open orders, sales trends.
Application Overview
This software application retrieves daily data from the existing system, encompassing various parameters like orders placed, cancellations, and inventory movements (IN/OUT). It then applies the principles of Theory of Constraints (TOC) along with relevant formulas derived from it. Moreover, the application employs a color-coded system to signify the status of each item in stock. Prior to commencing daily operations, management is furnished with comprehensive dashboards and reports, presented in both data and graphical formats. These reports provide a detailed status update on each item, empowering swift and informed decision-making.
Convenience Achieved
Prediction of potential sales losses.
Identification of excess orders and order frequency patterns.
Intelligent suggestions for optimal order placement.
Insights into the current position of blocked funds.
Quoatation Costing
What Is Quotation Costing ?
Quotation costing is clear cost structure and possible breakdown of the product costs.With the quotation costing all relevant variables that determine the costs and product profitability and the company’s strategic objectives are thereby taken into consideration.
Existing system
In the previous system, the client conducted costing within Excel spreadsheets. Various spreadsheets housed master data utilized for this purpose. Occasionally, multiple users undertook costing for the same product, resulting in redundant efforts. Furthermore, tracking revisions in costing posed challenges, making it arduous to discern updated costings.Quotations were formulated based on the costing analysis.
Requirement
The business sought a comprehensive solution to establish Bill of Materials (BOM) for their diverse range of products. This would enable them to conduct precise product costing, factoring in the expenses associated with the raw materials essential for product manufacturing.
Application Overview
The application offers an array of functionalities, including the definition of products, their associated child components, and their respective Bills of Materials (BOM). Through meticulous analysis of each product's manufacturing processes, considering factors like cycle time,BO cost ,RM cost the system facilitates the creation of comprehensive costings for accurate financial assessment. Once the costing for a product is established, it seamlessly integrates into the quotation creation process. Furthermore, the application's settings empower users to revise quotations in response to changes in product process costs. It also streamlines the conversion of quotations into purchase orders, enhancing procurement efficiency. Moreover, the system generates insightful reports on conversion ratios and product quotations, enabling informed decision-making and performance evaluation
Convenience Achieved
Precise definition of products and their corresponding child components.
Streamlined product cost design through the utilization of defined processes, offering a significant improvement over Excel.
Simplified revision processes, enhancing efficiency and accuracy.
Utilization of reports for comprehensive data analytics, facilitating informed decision-making and strategic planning.