Material Management
Enterprise-Wide Inventory Planning and Control
Sales, purchasing, production, transfers and adjustments all have an impact on inventory, which itself is often maintained at different locations. HoneycombERP® Inventory is a complete system that offers integrated, interactive management of all your inventory materials including physical stocks, Stocks In-transit and Consigned Stock Items.
Module Features
Material Categorization with Tag Generation
In HoneycombERP® – SCM, material control caters for Multi-level Material Categorization with hierarchical sequence numbers to maintain your stores and stocks items in easily traceable order. These categories are used to group products that are alike. Each category contain multiple products. HoneycombERP® Generates tags for all items for full physical stocks, for unplanned items and quantities, for every unique item, quantity, lot or serial combination, it also generates tags for location and bin. The Material definition also includes extensively detail description like:-
- Material Name & Number in desired formats
- Sequence and Hierarchical tables
- Line, Family, Type etc.
- Dimensions, Weight, Color etc.
- Standards and Variations
- Multiple other user defined values
- Multiple Images & Drawings
- Material Substitution
- Minimum & Maximum Stock Levels
- Minimum & Maximum Reorder Levels
- Material Stock Locations
- Provide source & suppliers information with History
- Pricing Details & History
- Multiple Images & Drawings with History
- Minimum and Maximum Lead Time with History
- Material References in multiple catalogues
- Obsolete & Inactive Materials with History
Substitute Item Association
HoneycombERP® provide facility to define multiple substitute items against any item. Thus, if a certain required material is out of stock we have substitute materials list available which if available can be used instead without stopping operations. This also helps in giving response to customer’s inquiries where for each item you have multiple substitutes also available which may also be quoted to ensure order taking.
Detailed Material Properties
Every material, item or product has multiple properties which needs to be defined. HoneycombERP® provides facility to handle. You can associate multiple properties with each material and may also differentiate and search materials with specific natural attributes like Shape, color, odor, etc. This also helps in defining specific material standards with min max acceptable values thus giving you higher flexibility to have same product or material with different standards or natural attributes.
Unit of Measurement
HoneycombERP® provides various types of Units of Measurement predefined for solids liquids, gases and pieces. It also provides the facility to define your industry specific special UOMs like bags, cartons, truck load, sheets etc. UOM Symbols may also be defined as per your need and practice. Beyond this, you may establish various UOMs for each activity separately as well, such as buying, stocking and selling UOMs for the same material may be separated as well.
Multiple UOM and Conversions
When material is moved, HoneycombERP® automatically adjusts the quantities for the respective unit of measure. You may buy material in rolls, bundles, drums while purchasing and may sell it in feet or liters etc. You may also build and stock products for inventory as individual units and sell them in packages or vice versa. This feature lets you conduct business with suppliers and customers on their terms, maintaining inventory at yours while selling as per customer requirements.
Configurable Product Bill of Material (BOM)
BOM is a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts and the quantities of each needed as they are designed (engineering bill of materials), as they are ordered (sales bill of materials), as they are built (manufacturing bill of materials), or as they are maintained (service bill of materials). A BOM is typically used for calculating supplies for order fulfilment may it be an internal or external order. In process industry the BOM is also known as the formula, recipe, or ingredients list.
HoneycombERP® allows dynamic creation of all “BOM that a company requires for order fulfilment. Thus reducing immense time and work-effort needed to maintain product structures. This configurable BOM is driven by a “configurator” designed for order placement which also gives options of variant of the parts or components which can be chosen from substitute options. This in some scenarios saves lot of time or helps in saving cost without affecting quality.
3.1.7 Supplier-wise Prices & Rate History
Materials price list can be created according to supplier’s .Specific Material has their own Price list ignoring their Parties. HoneycombERP® has a perfect solution to maintain prices in proper way .It also Maintain history of prices of all materials. Through System we can check the variation graph for a specific period of time. There is also keep track of Last Purchase Price. Average pricing Method is by default apply on materials.
Obsolesce, Dead Stock & Inactive Materials
Inventory that has had no sales or usage activity for a specific period. That period varies by company and industry and may even vary by product line within a specific company and may range from weeks to years. HoneycombERP® has this tremendous feature helping higher management to identify stock which is inefficient and make rational decision making for optimal and efficient investment which ultimately saves company resources.
Detailed Packing Information
Inventory that has had no sales or usage activity for a specific period. That period varies by company and industry and may even vary by product line within a specific company and may range from weeks to years. HoneycombERP® has this tremendous feature helping higher management to identify stock which is inefficient and make rational decision making for optimal and efficient investment which ultimately saves company resources.
Material Usage Information
Material usage information is very crucial for any organization. HoneycombERP® provides detail information and reports regarding the usability and consumption of material and its ancillary activities. The information can be viewed on different criteria with respect to cost and
Stock Level and Reorder Level
Safety Stock level quantity of inventory used in inventory management systems to allow for deviations in demand or supply. Safety stock calculations will take into account historic deviations and use a required service level multiplier to determine the optimal safety stock level safety lead time. Lead time can be beneficial when you want to “pad” your lead-time to compensate for supplier’s provisioning time from placement of PO. HoneycombERP® has the functionality to set safety stock level, reorder quantity and calculation of lead time with reports. For example, if it take 15 to 20 days to get incoming materials processed for which you want to set your safety lead time. The system will automatically process the requested dates for your purchase orders 15 to 20 days earlier than actual need. Thus intelligently managing your supply chain and saving you from empty stocks which can jeopardize entire operations and affecting organizational cash flows.