Inventory……….properly managed is a profitable
liquid asset, and un-managed is a liability with high depreciation.
Purchasing process needs to verify stocks as ordering existing
items in stock creates loss, and absence of item in stock
further adds to loss. Customers are demanding higher quality,
best price and reduced delivery time. This demands for reduced
dock-to-stock and stock-to-stores time. The legacy approach
of processing, locating, purchasing and delivering of stock-items
are time consuming and involve redundancy in paper work,
delay due to approval and re-shipping to customers. Incidents
occur when approval and authorisation prove to be bottleneck
and the paper work over shadows the value of items, and
the consequent delay….fatal.
can streamline the business processes to help meet customer
demand faster, decrease time to market and increase flexibility
to reflect market trends.
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The inventory is minimised and movement
optimised for better efficiency.
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Supplier relationship is consolidated
to reflect nature of product, total volume of supply,
payments and delivery mode.
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Requisition and purchase orders are
routed and approved faster reducing inefficiency of manual
processing and procuring cycle.
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Data analyses provide ability to track
and monitor individuals supplier performance on quality,
pricing and delivery.
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Automated re-ordering of items for
inventory and outstanding sales orders based on threshold
value setting to maintain adequate inventory
level.
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Inventory on hand is compared with
assigned re-order to minimise redundancy in stocks.
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Drop shipment option helps deliver
directly form suppliers to the customer thus reducing
cost and time.
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Visibility of total procurement spending
results in a better-informed decision-making, and better-controlled
and managed supply chain.
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