Inventory Optimization

PMTrack ERP with its MRP –I and II helps the store’s manager to better forecast the stock arrivals, control minimum and maximum levels while staying in-line with the demands of the production shop to comply with the delivery schedule. With the system in hand the manager becomes an ‘internal supplier’ of not just the Raw Materials but also of the Consumables, Tools and Dies etc. The manager of stores is not merely a record-keeper; he/she is the custodian and controller of my most valuable assets.

He/She dearly would need the system to apply the FIFO (first in, first out) approach…identify slow moving or non-moving stock. …audit your stock….and keep it reconciled with your books of accounts. Inventory optimization part of the PMTrack ERP platform is the vital piece of code so that ‘the people in your product value chain’ can track the stock levels at all times. Post deployment of an ERP ‘the whole organization’ works in tandem to ensure On-time-Delivery (OTD) as well as OTIF.

Some of our customers find the ERP system helpful to have in place tighter controls over ‘higher-value items’ by grouping inventory items into A, B, and C categories. Another one of our clients’ a Auto-parts manufacturing company who were using spreadsheets (like MS Excel) confirmed that “spreadsheet isn’t effective in inventory optimization because someone has to update the numbers manually, which take time and means the data is almost always out of date”