Inventories - Colvir ERP

The mission of the Inventories module is to automate inventory operations, warehouse accounting and requisite report generation.

Module functions

Inventory Movement Tracking and Control

Full cycle of operations with materials and low-value fast-wearing items receiving into the warehouse (procurement, gratis receipt); issuing from the warehouse (transfer to production, disposal, gratis transfer); return to the warehouse; transfer between warehouses; writing off the balance sheet materials that have become unfit for use, have been lost, or have become obsolete.

Stock Management

Calculation of the actual material cost taking into account any additional expenses. The calculation accuracy is configurable. Searching for materials and low-value fast-wearing items with generation of their warehouse-wise list, custodian-wise and department-wise. Off-system inventory accounting.

Analysis and Reporting

Maintenance of a single repository of materials and low-value fast-wearing items. Maintenance of an inventory classifier. Generation of requisite reports.

Advantages of the new mechanism

Automation
- Optimized accounting for expenses pertaining to the procurement of goods
- Improved accounting efficiency and reduced manual effort
- Management decision making support
Accuracy
- Improved inventory accounting and management transparency
- Support of more detailed inventory accounting and utilization analysis
- Reduced room for errors caused by manual data entry