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ICVS - Specific materials management solutions for your specific problems!
Issues in management of material flow
Today’s competitive environment is forcing companies to optimize the procurement processes and inventory levels while at the same time ensure accuracy of controls and implementation of standard procedures for the flow of materials. However, in the absence of appropriate systems and information infrastructure, companies are finding it difficult to achieve smooth and efficient materials planning and execution due to the following information-based limitations:
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- Unavailability of real-time and reliable record of inventories
- Manual requirement generation for materials across batches and orders
- Judgement-based purchase order quantity calculations and material
- consolidationsIrrational wastage levels that are rarely revised and monitored
- Inaccurate trail of location wise stock count
- In-effective implementation and monitoring of inventory valuation techniques
- Irregularities in inventory levels in case of multiple storage locations due to high
- frequency of inventory transits and transfers
- In-effective manual controls for ensure reconciliation between the purchased,
- consumed and leftover inventory stocks
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If these reflect your procurement and inventory management limitations as well, then Inventory Control and Valuation System by EfroTech Services has the right answers to these critical problems.
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| ICVS – providing the right solutions for an efficient materials management. |
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| About the Software |
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| An all-inclusive, functionality-rich software, the Inventory Control & Valuation System (ICVS) meets all the requirements for efficient management of inventories and materials procurement function of small to large scale organizations. ICVS caters to all activities involved in the flow of materials, right from materials requirement determination, generating purchase orders to issue and receipt of goods. The outcome is reliable maintenance of real-time records for item-wise, location-wise stock count and its valuation. |
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| ICVS integrates with Demand management and order entry, Financial Accounting, and shop-floor control for automatic calculation of material requirements, generation of payables and issuances of materials upon authorization to departments and shop-floor respectively. |
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So whether you are a manufacturing concern, a distribution company or a service-based organization, ICVS provides tremendous help in the preparation of sound production, distribution and supply plans for your company by enabling valid and real-time record of your inventories, while simultaneously protecting from unforeseen stock shocks. |
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ICVS can also easily integrate with other packaged software applications such as Finance and ERP’s.
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- Optimized lot-sizing and procurement
- Liberation of tied-up capital in slow moving stock
- Increased inventory turnover improves the return on capital
- Optimum storage utilization
- Effective inventory controls
- Real-time views of stock levels and valuation
- Reduced stock-outs eliminating earning shortfalls
- Accurate tracking of materials through all stages of processing, including work-in-process
- Reduction in work force due to delegation of routine and redundant activities to software
- Complete control over flow of goods from ordering to dispatch
- Customized reports for enhancing quality and speed of decision making
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| Standard features of ICVS |
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- Creation / Editing of Supplier details and material supplied
- Barcode support for accurate tracking of material movements
- Maintaining item rates, specifications and lead-times
- Support for any level of material variation, multiple locations & delivery destinations
- Automatic determination of material requirements against forecast-based or order- specific demand
- Netting from available stock and scheduled receipts to generate net purchase requirements
- Detailed item & PO level purchase histories with elaborate change logs and audit trails
- Real-time reports for item-wise, location-wise stock levels
- Real-time inventory valuation
- Comprehensive system of procurement and material movement authorizations
- Materials Issuances, receipts and intra transfers
- Location and valuation of acceptable substitutes
- Generate relevant accounting information
- Processing of physical stock counts and reconciliation
- Process high volume requisitions, orders, exceptions, cancellations, lossesales
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