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There
are
many
vendors
in
market
which
are
providing
traditional ERP
Inventory
Purchase
Engineering/ Production
1. Inventory:
Efficient inventory management should be able to rapidly respond to customer
requirements; at the same time should be flexible enough to undertake any
corrections when required. The ERP Inventory management module offers a host of
advanced warehousing features such as modification, balancing, transfer, and
reverse operations.
Features:
Multiple Warehouses:
number of
Locations. In Addition, Items can be transferred between
warehouse locations.
Flexible Item Numbers:
alphanumeric
characters according to the needs of each of your
companies.
Embed meaningful information in smart part numbers
such as
UPCs, a vendors number, recycling codes, Special
handling
requirements information, and more.
Physical Count:
interrupting the
normal
Sales
order
Entry
process.
Physical
Count
Worksheets
Simplify the physical count process and speed data entry.
A
variance report provides data that highlights
Alias Item Numbers:
vendor. Alias
defined as sales
its. A single-level bill of components can be defined for
each kit. The Sales Kit Listing, Sales Kit Where-Used
Listing, and Costed Sales Kit Report are available. Sales
kits can be entered during order entry to automatically
explode the components.
Comprehensive Pricing:
levels and
and costing
the quantity sold can be created for each item. Prices can
be
calculated as a discount of the standard price or markup of
the
standard cost and can be calculated based on standard
cost,
average cost, LIFO, FIFO, and lot/serial methods. Sales
promotions and customer contract pricing may also be
established.
Standard,
last,
and
average
costs
are
maintained for
each item regardless of costing method.
Transaction History:
retained
indefinitely, and a transaction audit trail can be produced
for a
specified date range.
Bar-Code Printing:
inventory items.
Both Code 39 and Code 128 bar-code formats are
supported for
a variety of printers.
Reordering:
The
suggested reorder quantity can be based upon an economic
order
quantity, maximum stock quantity, or reorder point.
Commission Method:
different
methods.Commissions can be based upon percentage of
price,
percentage of cost, or percentage of gross profit plus a base
commission amount.
invoices
Inquiry
the lead
Item
calculated on
shipment or Invoice date, prints on invoices and packing
slips for
your customers.
Lot/Serial Tracking:
improve
quality while providing an audit trail to the source purchase
order
or work order.
Advantages:
No business can operate without inventories. It needs inventory as a protection
against uncertainty, for efficient processing of material, and to permit transit and
handling. So the companies carry inventory for following reasons:
1. Uncertainty of demand:
Uncertainty of demand and lead time necessitate building of safety stock. These
are also called as buffer stocks. Larger the uncertainty of demand and supply; the
larger will have to be the amount of buffer stock. Inventories protect him against
unforeseen failures in supply or increase in demand. Even a tire on a suppliers
delivery truck could interrupt production if it delayed a shipment of needed
material. Inventories protect production against nonanticipated delays.
2. Uncertainty in lead-time:
The supplier is usually not in a position to supply goods as per decided dates or as
he promises. In the context of the vendors in India it is observed that there is a
rather rare supplier who supplies as per promises and of the quality essential. This
situation leads to overstock the quantity.
manufacturer may lack the skills necessary for such control or be unwilling to incur
the control costs, so he carries extra inventory in order to prevent stock units.
10. Future cost increase:
Sometimes the material manager expects prices of materials to rise in near future.
So he purchases stock at lower prices.
Sales and marketing
Sales and marketing processes are part of ERP and generally are
incorporated into the customer relation management (CRM) module of corporate
ERP systems. A sales and marketing ERP software allows activities which begin from
contacting customers which are referred to as pre sales activities to be recorded. It
also allows tracking of each customer orders right from placing an order to dispatch
of material for that particular order and customer.
The important components of sales modules:
1. Sales inquiry handling
2. Sales pricing control
3. Sales contract handling
4. Sales order control
5. Sales invoicing
each item of the quotation may be obtained automatically from price book. If the
quotation is successful, it is processed for generation of sales order. If the quotation
is unsuccessful, the reason of failure and name of successful vendor are recorded in
the system for future reference.
Sale Pricing Control:
Sales pricing control helps to maintain prices for items, details of
discount structure and special discount given to some category of customers such
as Original Equipment Manufacturer (OEM). A price book originates with base price
for the item. A single level discount rule with a minimum or maximum quantity or
pricing break, is attached to price book. Additional pricing conditions such as
category of suppler, delivery schedule etc. may be formulated in a matrix format,
for attaching to the price book.
Sales Contract Handling:
This process relates to recording long term agreement with customer
for price, discount, delivery etc. Normally, a validity period and minimum committed
quantity forms part of the contract. Cumulative called quantity by the customer,
delivered quantity and invoiced quantity are maintained in the system for control
purpose. The easy way of making a contract for existing customer is by copying an
old contract and doing modification in the system. For a new customer, data related
to header and lines are entered in the requisite session. The system helps in
evaluating the contract at any given time, and customer may be reminded for any
failure to meet their part of commitment.
Sales Order handling:
This process allows a company to manage sales operations quickly
and efficiently. This process handles regular sales order, cost order, customer return
and collect order. Through use of templates, the system allows quick data entry
process to manage products ranging from standard to Engineering to Order (ETO).
On time ATP helps in identifying when a product is available for delivery and making
necessary commitment/allocation for the same. Rebate and commission process
enables automatic calculation of commission to be paid to sales employees and
channel partners.
Sales invoicing:
This process facilitate billing functions such as issuing of invoices based on goods /
services provided, generating preform invoices, issuing credit notes resulting
corresponding entries in accounts receivable and control account of general ledger.
Advantages:
Using sales management software offers wide-ranging organizational
benefits for an enterprise, and can help it to achieve its competitive and profit
goals. The best sales management software aids in business budgeting and
planning to improve a small business overall success.
Strategic Account Management:
A top rated sales management system can be a knowledge database that
provides access and information about sales accounts. This can help to reduce the
challenges and problems faced while handling a large portfolio of accounts.
Companies will be able to identify the sales accounts that provide the most promise
and revenue. And, they can filter out the less promising accounts. This enables
sales managers to distribute and prioritize accounts effectively. The sales team can
pitch unique promotions and packages to each account to enhance the chances of
closing the deal.
Leveraged Analytics:
Comprehensive analytics is essential for improved business planning.
Implementing a good sales management software system can help a business
assess sales cycle, target characteristics, competitive positioning, and the
effectiveness of sales campaigns and tools. These analytics can assist sales reps to
concentrate on business areas that are most productive and profitable.
Accurate Forecasting:
Inadequate information can lead to inaccurate sales forecasts. The best sales
management software systems capture data efficiently and provide critical
information that helps sales reps to make accurate forecasts. The data is easily
managed and projected. This simple procedure can be quite a relief for sales
managers.
Effective Inventory Management:
A good sales management software system can help to manage inventory
more effectively. It can provide up-to-date information on the latest inventory
scenarios that can help sales managers to make important decisions on new deals.
They can utilize existing inventory to provide goods to the most profitable current
customers.
have built good rapport with customers, and match them to increase sales and
profit.
Provides Useful Notes on Previous Customer Interactions:
Sales management software can be used to note down details of previous
interactions with customers and the outcomes of previous calls. When a prospective
customer calls your company, they would not have to repeat everything again. The
sales rep who takes the call would merely have to read the notes to get up to speed
on what is the deal with this customer. He or she can take effective action to carry
forward the conversation and close the deal.
Eases Load on Your Employees:
Some businesses make their employees work on multiple programs and
tasks. This increases their workload and stress as they have to keep toggling
between these various programs. Sales management software enables marketers,
sales agents, and customer service reps to perform all their tasks in the same data
repository. They would be able to handle their CRM, sales goals, and lead
management without having to alternate between various programs. This reduces
work-related stress on employees and makes them more efficient, which leads to
increased sales and lower attrition rates.
Purchase:
An efficient and robust Purchasing module is key for all distributors. The
purchase order management module in resource ERP includes On-time Requisition,
Contract Management, and Rate Sealing with vendors, Vendor Management. This
module also offers access to approved supplier, purchase order management,
purchase enquiry to be floated to multiple vendors on just a click of a button.
This module is fully integrated with other module in resource ERP. The
purchasing module of resource ERP supports all phases of material management,
material planning and control, purchasing, goods receiving, inventory management
and invoice verification. The purchase module communicates with other modules to
ensure a constant flow of information.
FEATURES/FUNCTION HIGHLIGHTS:
Modular Integration
Item Catalogs the ability to store multiple vendors, vendor item code, and
vendor cost per item. This makes data entry more efficient and ensures that
the costs used on your purchase orders are accurate
Approved Vendor Lists- restrict which vendors items can be purchased from
Compliant Vendor Tracking- track which vendors have not yet sent Full
Material Disclosure information on items purchased from them
Non Stock Items purchase orders can be processed for items not stocked in
inventory such as supplies, capital expenditures, and services
Drop Shipments by specifying in order entry via order type, a drop ship
customer order automatically creates a vendor purchase order to your
preferred vendor at your contract cost
Interface with Accounts Payable when you receive the vendor invoice there
is no need to enter the purchase information again to record the liability.
Simply bring up the PO, enter the invoice number and date, and post to
Accounts Payable thereby creating an open payable item to the vendor. If
there are any variances in cost between the purchase order cost and invoice
cost, these will be listed on the Price Change report for your review.
Features:
Item Catalogs the ability to store multiple vendors, vendor item code, and
vendor cost per item. This makes data entry more efficient and ensures that
the costs used on your purchase orders are accurate
Approved Vendor Lists- restrict which vendors items can be purchased from
Compliant Vendor Tracking- track which vendors have not yet sent Full
Material Disclosure information on items purchased from them
Non Stock Items purchase orders can be processed for items not stocked in
inventory such as supplies, capital expenditures, and services
Drop Shipments by specifying in order entry via order type, a drop ship
customer order automatically creates a vendor purchase order to your
preferred vendor at your contract cost
Interface with Accounts Payable when you receive the vendor invoice there
is no need to enter the purchase information again to record the liability.
Simply bring up the PO, enter the invoice number and date, and post to
Accounts Payable thereby creating an open payable item to the vendor. If
there are any variances in cost between the purchase order cost and invoice
cost, these will be listed on the Price Change report for your review
REPORTING:
Reports available include:
Purchasing log
Price Change Report (PO vs. Vendor Invoice)
Advantages:
A key way for business owners to better understand, control and manage
costs is an effective purchase order system. A purchase order (PO) is a contract
between a buyer and seller to purchase goods or services. It includes: a unique and
sequential number, quantity, price, ship to and billing addresses, authorized
signature, terms, and method of payment.
Here are four benefits of an effective PO system:
Approve cost before incurred
The primary benefit of a purchase order is approving an expense or purchase
before it is incurred. Companies are better able to manage budgets, understand
costs and proactively run projects. It puts the approval where it belongs at the
beginning of the purchasing process. Notify suppliers or vendors of authorized team
members and their approval limits.
Enhance internal controls
Two critical points of control are: items received against what was ordered,
and pricing. A unique PO number is the key reference number for the document.
This will become the control number that links the supplier documents: purchase
order, delivery ticket and invoice. The numbers are sequential which adds a level of
control to limit abuse.
Manage committed costs
When a purchase order is executed by the buyer and seller it commits both
parties to the terms on the document.
committed but not incurred PO issued but goods not delivered. This is most
helpful for items with volatile pricing, in great demand or requires long lead times.
Improve project profitability
A common mistake when managing project profitability is looking at costs
incurred (actual invoices received). This is a partial picture. To understand the true
Expected
revenue minus total costs (incurred cost plus committed costs) equals the potential
profit.
ERP
Features:
1.
Automation
and
Management
of
End-to-End
General
Accounting
Procedures:
Financial management software systems streamline and enhance all basic
administrative financial processes from start to finish, such as accounts payable,
accounts receivable, cash flow management, purchasing, payroll, and general
ledgers.
2. Support for Worldwide Financial Processes:
With a financial management software package, companies have the tools
and technologies they need such as support for multiple currencies and
conversions, languages, country-specific laws and guidelines, and multi-national
transactions to better coordinate activities that span multiple departments and
business units, and improve the execution and management of all financial tasks
across all global locations.
3. Planning and Forecasting
Companies who utilize financial management software solutions have a
dramatically enhanced ability to leverage historical data to predict future financial
activities such as trends and patterns in income, revenues, and expenses.
Additionally, a financial management software system can allow an organization to
understand how certain potential scenarios, such as market conditions, acquisitions,
or the additional of new business units, can impact its financial status. This makes
strategic planning more accurate and successful.
streamlining
consolidations,
allocations,
budgets,
and
other
cash
flow
Many of the financial management software packages on the market today are built
on powerful architectures that provide:
Advantages:
Workday Financial Management helps you achieve the highest levels of business
performance and financial excellence.
with
real-time,
Gain real-time visibility into cash balances and more accurately forecast cash
flow with embedded analytics.
Track low-cost and zero-cost items that have high value or liability (such as
mobile devices or security badges).
Reduce the time spent compiling, reconciling, and consolidating data from
fragmented systems.
Report on transactions and get full audit reports on any and every transaction
processed in the system.
into
financial
performance
with
real-time,
Manage all your business controls centrally, while allowing for variations for
local regions or specific countries.
Features:
Quotes & Proposal Management With CRM you can quickly and easily
see quotes and proposals that you have sent your prospects and customers
and turn these into sales orders when they are sold.
Activity & Project Management CRM lets users manages all kinds of
Activities within like calls, appointments, to-dos as well as build their own
specialized types of Activities and track them. Projects are templates of
reusable sets of Activities that can be scheduled and assigned to all or just
Primary Contacts using CRMs Campaigns features.
List & Query Management The CRM module of ERP allows users with
proper access the ability to build, use and reuse powerful SQL queries via a
standard Query by Example query capability. These lists can then drive
Campaigns or feed other applications targeting prospects and/or customers
with your companys communications or other interactions.
Sales Lead & Support Call Dispatch Rules can be set up within CRM
that determine how new sales leads and new support cases are assigned or
dispatched, based on factors such as geography or skill set of agents.
Advantages:
CRM or Customer Relationship Management is a system which aims at
improving the relationship with existing customers, finding new prospective
customers, and winning back former customers. This system can be brought into
effect with software which helps in collecting, organizing, and managing the
customer information.
Improved customer relations
One of the prime benefits of using a CRM is obtaining better customer
satisfaction. By using this strategy, all dealings involving servicing, marketing, and
selling your products to your customers can be carried out in an organized and
systematic way. You can also provide better services to customers through improved
understanding of their issues and this in turn helps in increasing customer loyalty
and decreasing customer agitation. In this way, you can also receive continuous
feedback from your customers regarding your products and services. It is also
possible that your customers recommend you to their acquaintances, when you
provide efficient and satisfactory services.
Optimize marketing
With the help of CRM, you will be able to understand your customer needs
and behavior, thereby allowing you to identify the correct time to market your
product to the customers. CRM will also give you an idea about the most profitable
customer groups, and by using this information you will be able to target similar
prospective groups, at the right time. In this way, you will be able to optimize your
marketing resources efficiently. You can also be ensured that you dont waste your
time on less profitable customer groups.