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Inventory Control |
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An Inventory Control system ensures optimum inventory levels and thereby
decreases inventory carrying costs and increases operational efficiency and
profitability.
ProMIS Inventory Control
module manages inventory and keeps track of material receipts, issues,
transfers, replacement, consumption and adjustment entries. Supports multiple
store locations, transfer between locations, Item groups and sub groups, stock
aging, stock ledger, finished goods entry through production vouchers, stock
status reports, re-order levels.
Inventory Control module can be implemented as an independent module though it
is closely integrated with the Financial Accounting, Purchases Order Processing
and Sales Order Processing modules to provide a comprehensive solution.
Item Information
The items/products could be defined in Item Master screen. Items can be
classified into Groups, Sub Groups and Make/Model. The re-order levels, minimum
and maximum stock levels, selling price etc. could be specified.
Stock Valuation
ProMIS follows weighted
average method for stock valuation and the it is re-calculated automatically
during each purchase transaction. In case of stock existing during the system
implementation, the opening stock and value could be entered for each store
location and the average rate will be arrived based on these values.
Stock Movement
ProMIS records and
processes all stock movements including stock incoming as well as outgoing
transactions. This includes Goods Receipt Vouchers (GRV/GRN), - both Local and
Overseas, Delivery Notes, Sales Returns, Purchase Returns, Transfer across
locations, Material Issues and Returns, Issues to Projects, Production Vouchers
(updates the consumption of raw material and addition of finished goods),
Internal Consumption, Damaged Stock, Replacement of items, Stock Adjustment
vouchers etc. The relevant store location will be updated and the overall stock
position, value and average rate are also calculated.
Stock Ledger
Stock Ledger provides detailed information on complete movement of items
arranged in the chronological order. It can be generated for all or selected
store locations.
Stock Reports
Provides stock position, value and average rate along with the last purchase
rate. Report could be generated for all or selected store locations. Stock aging
reports and reports on stock variance between the physical and book stock are
also provided.
Key Features:
* Multi-location inventory
* Stock valuation on weighted average method
* Negative stock detection
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Complete supply chain integrated with Sales Order Processing and Purchase Order
Processing
* Material Issues and Returns for projects
* Production & Processing
sub-modules * Production Norms
* Customer Enquiries, Quotations, Sales Orders,
Delivery Notes, Cash Memos and Invoice Generation integrated with Sales Order
Processing module.
* Purchase Requisitions, Supplier quotations, LPO
preparation, Good Receipts integrated with Purchase Order Processing module.
*
Search stock item with drill down to stock ledger
* Authorization and approvals
for specified transactions.
* Automatic posting of Stock value to General Ledger
* Purchase reconciliation (GRVs and Credit Bills posted to GL)
* Average rate
recalculated before stock reports are generated each time to ensure correct
valuation
* Stock Ledger and Reports
* Location wise Stock Reports
* Auto
Credit/Debit notes on Sales/Purchase returns
* Stock Aging Reports
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