Steel is a major component used in many industries such as construction, infrastructure transport, shipping, automobiles, machines, appliances, packaging, energy and many more. Some major challenges that Steel Industries face; in order to remain competitive are: scarcity and rising costs of raw materials, high operational costs and high cost of maintenance. Leveraging the power of ERP will help overcome these challenges.
Spectrum ERP for Steel Industry
Spectrum ERP provides Material Management, Planning & Production, Finance & Accounting, Sales & Distribution, Customer Relationship Management (CRM), Payroll and Plant Maintenance module. Spectrum ERP also has Business Intelligence solution and Mobile Apps. Spectrum ERP can also be seamlessly integrated with Tally Software. Our e-Procurement solution automates and streamlines procurement processes of manufacturing industry SMEs. This enables efficient and transparent procurement of raw materials, consumable & capital items.
Key Modules of Spectrum ERP for Steel Industry
Spectrum ERP for Steel Industry has modules designed, configured as per the unique requirements of Steel Industry. Spectrum ERP helps Steel manufacturers to integrate and streamline critical business processes such as procurement, inventory management, supply chain, asset management & plant maintenance, improve logistics, control production costs, in order to ensure profitability.
Order Management Specific to Steel Industry
Spectrum ERP has a specially designed Order Management Module to suit the practices followed in the Steel Industry. It has a system for recording information about contracts, orders, dispatch plans along with agent information. Our order management module also allows to define material attributes such as gauge, thickness and helps to determine invoice price automatically as per the base price mentioned in orders.
It is capable of handling the daily price fluctuation and price structure in Steel industry. It is also equipped to handle the various terms and conditions of payments related to Freight, Letter of Credit, Bank Guarantee etc.
Raw Material Features as per Steel Industry
Spectrum ERP has been specially configured to include steel industry specific raw material related requirements. It allows you to define quality parameters at Item level, define permissible quality range at Order level, record actual quality of raw material received and generate variance reports. It also helps to generate Debit notes, based on the variance report generated.
Steel industry are subjected to very heavy logistics for raw material procurements including transport via rail and road. It also involves multiple activities such as loading, unloading of materials from various sites, insurance of raw materials, and many more. Spectrum ERP helps you to record all such logistics related activities in a central location.
Sometimes raw materials needs to be processed outside the factory also. Spectrum ERP supports this activity. It also lets you know final landed cost of the raw materials after taking into consideration all logistics, conversion and warehousing costs etc.
Due to its nature, Steel Industry requires robust logistic operations for movement of raw materials, finished goods etc. We provide logistics related features to handle bulk transportation, freight order, freight invoicing. Spectrum ERP helps record all transactions involving transportation via rail and road. It also helps record accounting and compliances requirements in Logistics.
Material Requirement Planning
Steel Industry is very material intensive industry. Steel Industries must avoid situations of stock out or overstocking in all possible ways. Hence, inventory control and material requirement planning are critical for Steel Industry. Spectrum ERP supports demand planning, based on manual forecast, past consumption data, fixed level inventories as well as adhoc material requirements. We also provide different type of material classification such as ABC, XYZ and other analytical reports to plan and execute material requirement planning. Our Material Requirement Planning ensures adequate inventory levels so that all materials are available at the right time when they are needed.
Weighbridge Integration with Spectrum ERP
You can integrate weighbridge operation directly with Spectrum ERP. All Material Movement activities such as raw material being received, finished goods being dispatched, or internal transfers can be captured directly in Spectrum ERP. You can integrate a single weighbridge or multiple weighbridges with connected operations within a single company. This helps plants to keep a close watch on inward and outward movement of raw material and finished goods. Since weighbridge data can be captured directly into Spectrum ERP it helps to prepare Good received notes, Dispatch documents, etc.
Asset Management & Maintenance Module
In order to be competitive in the market, it is critical for Steel Industries to ensure smooth functioning of plants, optimize plant efficiency and operating costs. Hence, Steel plants are required to carry out regular maintenance activities. Spectrum ERP Plant Maintenance Module is capable of handling:
Asset Management: It maintain records of all plant equipments, their locations, equipment wise AMC Contracts, spares & warranty details.
Plant Maintenance: It helps to set conditions that trigger maintenance. It helps to record and carry out activities of preventive and breakdown maintenance.
Inspection: It provides a daily log for maintenance and inspection entry.
Company-wide integration, Multi-location integration
Spectrum ERP Multi-Company feature helps Steel Plants integrate diversified business processes from multiple locations. This improves collaboration and coordination across various locations, units and departments. Management is able to view real-time, consolidated data as well as detailed transaction level data and make informed decisions.
Costing and Cost Controls
Spectrum ERP provides various cost control mechanisms such as Budget at Cost Center and Item level, Inventory Control. It has provisions for cost controls at transactions levels such as Purchase order, Service order, Material issue etc. It also provides timely alerts and reports whenever there is a deviation from cost control defined.
Spectrum ERP provides various costing related reports such as Material Landed Cost, Service Cost, Cost of Maintenance etc. These reports allows you to analyze and determine focus areas for improving cost efficiency.
Spectrum ERP can be seamlessly integrated with Tally ERP. This provides the power of Spectrum ERP along with the flexibility of Tally. It helps implement best business practices in organizations without impacting their Accounting practices. Spectrum ERP with Tally integration is a direct single step data transfer feature to export vouchers from Spectrum ERP to Tally. You can choose to integrate only select operation data or go for maximum integration.
Industry Specific Reporting
Spectrum ERP comes with a suite of standard reports created for the Steel Industry. This includes precise reports designed as per their key performance indicators and dashboards. In addition, we also provide customized reports if required.
Client Success Stories
Spectrum ERP for Steel Industry has been successfully implemented at Topworth Group
Read more about our Client Success Stories: Topworth