Inventory Optimization & Vendor Portal

Features of Inventory Management software

Identify consumption pattern:

  • Item categories in weekly, fortnightly, monthly and quarterly category
  • Identification of non-moving items
  • Identification of current consumption rate
  • Define VED items and lead time

Define Source of Supply

  • Define supply category e.g. Open Market, Local
  • Review No of Suppliers
  • Set standard lead time and safety days based on source of supply

Define Optimum Inventory Level

  • Lead Time, Reorder Level, Reorder Quantity
  • Safety Stock, Max Stock

Rate Contract

  • Identify and declare items and quantity for rate contract
  • Automate RFQ, Proposal submission, Comparison process for Rate Contract
  • Release Order for items in rate contract
  • Implementation of rate contract rules

Vendor Portal

  • Vendor Registration & Profiling
  • Automation of Purchase, Stores & Accounts communication
  • Vendor Rating, Reports & Dashboard

Group Level Consolidation

  • Consolidation of Vendors, Items, Group, Sub Group
  • Consolidation of indents
  • Exchange of inventory availability
  • Consolidation of vendor performance at group level

Inventory management software from Force-Intellect ensures low wastage of materials and smooth functioning of supply chain.

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