Merits of ERP Software Material Inspection and Receipt Note with other features
From construction sites to manufacturing units, Supply Chain Management is an integral part of various industries. With the help of an ERP Software Material Inspection and Receipt Note feature, supply chain managers can manage the acquisition and utilization of materials more efficiently. Material Resource Planning (MRP) also keeps the finances in control.
Understanding the material management process
The concept of Material Resource Planning (MRP) was introduced in 1960s. ERP came in later for automation in managing budget, materials and other resources. ERP software helps to eliminate those losses with features that streamline the supply chain process. An ERP’s Material Inspection feature gives control over the quality of the material. All the material receipts collected at various sites are recorded in the ERP system. The Receipt Note feature provides answers to all the queries related to the inventory and gives clarity on all the channels through which the material has passed and where it was received at what time and by whom in the SCM process.
In addition to the Material Inspection and Receipt Note functionalities, a trusted ERP solution, OMNI ERP for contractors, comes with supply chain management features such as Material Requisition, Purchase Order, Stock Adjustment, Stock Transfer and more.
Benefits of inspection and receipt notes in ERP
Some of the major merits of Material Inspection, Receipt Note and other features in ERP are as follows:
- Maintain consistency in quality
Getting the right quantity of materials isn’t enough. Contractors may lose the contract or incur losses due to the rejection of finished work if quality materials are not used for fulfilling their commitments. Also, their reputation will be at risk if the quality is compromised in their work.
The material inspection ensures that the quality and specifications of the materials are as per the approved quotation of the contractor.
- Ensure Accountability
Streamlined workflow with activity logs always helps to track materials. With an ERP, movement of materials can be logged online with the help of cloud computing. No need for struggling with hard copies or lost receipts. Avoid the possibility of unethical practices in the supply chain process with online tracking and real-time updates.
- Avoid Dead Inventory
It is easy to manage quotations and vendor issues online with an ERP software. Place orders with vendors and let vendors manage your needs through a vendor portal. This will ensure that payments are made on time and the inventory gets replenished as per your needs by vendors who shared the best quotes.
- Add to your profits
An ERP assists businesses to keep their budget in control by ordering materials with the various stock management features. Any loss of materials in the supply chain pipeline due to stolen, lost or misplaced materials leads to loss of funds.
With a Material Inspection and Receipt Note records, the exact quantity of material received from various sources can be inspected and logged with time stamps and the recipient details. Also, you can reduce working capital by minimizing material losses.
- Save time on locating mismatch in material quantity
ERP solutions such as ERP for construction come with material management functionalities that save time in many ways. The site workers won’t sit idle if the material reaches on site and on time. Any mismatch in the material may lead to confusion. The project owners can view the status of materials even on handheld devices through an ERP platform.
Details such as inspected stock, rejected stock, ready for use stock and estimated requirement of stocks are all projected in a user-friendly manner on the ERP dashboard. Also, information about inventory in different sites such as warehouses or site storerooms can be viewed online.
Get material inspection and receipt note features along with other customisations by using the OMNI Supply Chain Management ERP. Learn more about how ERP can be designed and implemented for your business with OMNI experts, call ________