Inventory Management module is sub divided into different modules as under◦ Inventory Requisition◦ Inventory Order Assessment◦ Inventory Placing◦ Supplier Performance◦ Order Received◦ Quality checks◦ Inventory Bills and Challahs◦ Minimum Inventory Assessment◦ Maximum Inventory Assessment.

In this particular module the objective is to take the inventory requirement from different departments.

This is done by filling up of Inventory Requisition form by different departments.

In this particular form the Department head will fill up the quantity of Inventory required, Grade / quality of Inventory required etc.

Department head should take into account the minimum inventory required, maximum inventory required and current inventory available.

This is back end program written in Java Servlets. This program is actually assessing the Inventory

requirements of the Company. It takes the Input from the Inventory Requisition

form and processes it i.e. it then compares the Inventory demanded by different departments with the minimum inventory required according to customers order.

After processing the results it makes the final Inventory requirement for different departments and then call for Suppliers list that provides these inventory.

Now the supplier is selected we have to finally place an order.

We have to fill up order placing form in which we will be filling up information like ◦ Date of Placing of Order, ◦ Quality required, ◦ Transportation Mode, ◦ Mode of Payment, ◦ Advance Payment, ◦ Supplier ID, ◦ Department ID, ◦ price per Item etc. ◦ and the order will be placed.

In this module the quotation for Inventory requisition is called from different suppliers.

Suppliers will be filling up the Proposal Form in which they will be stating that:◦ How much quantity of goods they can provide?◦ In what time?◦ What will be pay mode?◦ Are they providing Credit?◦ What will be the Quantity of goods?◦ What will be the Price per Item?

All this information will be stored and then will be processed by the program which then taking into account all the above filled information will finalize the supplier.

Inventory ordered should be cost effective and should be of good quality

Next module is Order Received module in this module we will be recording the Inventory received information.

We will be comparing order placed and order received data i.e. weather there is uniformity between these two or not.

We will be comparing Date of placing order and Date of receiving order, Quality of Inventory, Quantity of order received and Quantity of order placed, Transport mode etc. If there is uniformity in both then we will be assessing the amount to be paid to the supplier.

We will be taking into account the quantity received, price per Item and advance paid.

We have received order then it have to pass through quality checks by R&D Department and Department head has to fill up quality assessment form indicating the quality of goods received.

Last thing in Inventory control is making up of payment.

When we finally make up payment we have to draw bill & challan indicating the amount paid, mode of payment, Supplier ID, Receipt ID etc.

In this particular module, the objective is to get the minimum Inventory requirement from different Departments.

A Performa is prepared in which different departments have to fill up there minimum inventory requirement in coming 15 days i.e. we are planning for ahead what will be the inventory requirement in near future.

This assessment will be done by taking into account the Customers Order received, Inventory in hand, Scrap etc.

Taking all these into account Departments will be filling Minimum Inventory Requirement.

Minimum Inventory Requirement is that quantity of inventory below which workers cannot work i.e. it is that quantity of inventory, which is minimum, required accomplishing the task of Student.

Hence stock of inventory should not go below this amount.

In this particular module the objective is to get the maximum Inventory requirement from different Departments.

A Performa is prepared in which different departments have to fill up there maximum inventory requirement in coming 15 days i.e. we are planning for ahead what will be the inventory requirement in near future.

We are taking Maximum Inventory Requirement for this reason so that to assure that wastage does not happen and there is no blocking of funds unnecessary.

This assessment will be done by taking into account the Customers Order received, Inventory in hand, Scrap, Durable goods, Non Durable goods etc.

Taking all these into account Departments will be filling Maximum Inventory Requirement.

Maximum Inventory Requirement is that quantity of inventory above which order for Inventory should not be placed i.e. it is that quantity of inventory, which is enough to accomplish the task of Student.

The stock of inventory above this quantity will result in wastage and blocking of funds.

ERP inventory management has many advantages.

The main advantage for a company is that the ERP system is company-wide and involves only one software system.

Companies that do not use ERP management will sometimes have several different software applications that are not compatible with one another.

Some other advantages include:◦ Proper communication between different areas.◦ Tracking of orders from the time the order was

received to its delivery.◦ Keeping up with the revenue cycle from when the

invoice is issue through when the payment is received. ◦ No longer have to keep up with changes in different

software systems. The one system is tied together.◦ Provides a ‘top down’ overview of the workings of a

company. ◦ Reduces the risk of loss of information◦ Sets up a form of security to protect against theft from

outside or within a company.