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BRIEF OVERVIEW OF INVENTORY MANAGEMENT powerpointpresentationon.blogspot

BRIEF OVERVIEW OF INVENTORY MANAGEMENT www.powerpointpresentationon.blogspot.com. What is Inventory….?. Stock of items kept to meet future demand It can be: Raw materials Purchased parts and supplies (Spares) Partially Completed or Unfinished goods.

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BRIEF OVERVIEW OF INVENTORY MANAGEMENT powerpointpresentationon.blogspot

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  1. BRIEF OVERVIEW OF INVENTORY MANAGEMENT www.powerpointpresentationon.blogspot.com

  2. What is Inventory….? • Stock of items kept to meet future demand • It can be: • Raw materials • Purchased parts and supplies (Spares) • Partially Completed or Unfinished goods. • Items being transported (Stores in Transit) • Tools and equipment

  3. Inventory Management….? Definition It is concerned with planning, organizing and controlling the flow of materials from their initial purchase through internal operations to the service point through distribution. OR Material management is a scientific technique, concerned with Planning, Organizing & Control of flow of materials, from their initial purchase to destination.

  4. The Aim… • To get: • The Right quality • Right quantity of supplies • At the Right time • At the Right place • For the Right cost

  5. Purpose… - To gain economy in purchasing - To satisfy the demand during period of replenishment - To carry reserve stock to avoid stock out - To stabilize fluctuations in consumption - To provide reasonable level of client services

  6. Inventory Management Functions • Materials Planning • Purchasing • Inventory Control • Store Keeping • Stores Accounting • Transportation (Internal / External) • Scrap Disposal • Material Economics • Waste Management

  7. NHPC SCENARIO • IFS ERP INVENTORY MANAGEMENT MODULE has been implemented across 41 locations of NHPC. • As on date stock exists in 56766 items approximately. • Items are being centrally codified at Corporate Office based upon the codification schema developed by TCS.

  8. Inventory In NHPC Our Inventory includes: - Material involved in Survey & Investigations. - Drilling Equipments & Accessories. - Explosives/ Detonators - Construction Material issued to Contractors - Steel , Cement, Explosives etc. - Spares for Maintenance Repair & Operations - Heavy Equipment/ Vehicle Spares - Regular & Irregular Spares for GPM - General Electrical & Hardware items - General Administrative Items - Medicines, Stationary & Liveries etc.

  9. Inventory Management Functions… • Materials Planning by means of PR / MR • Material Receipt • Gate Entry (Receipt into Arrival Location) • Inspection of Goods delivered • Goods Receipt (Receipt into Picking Location) • Store Keeping (Stock Handling) • Material Issue • Stores Accounting (Pricing of Receipts & Issues) • Inter Site & Intra Site Stock Transfers • Scrap Disposal

  10. CENTRALISED CODIFICATION OF INVENTORY ITEMS 40 07 05 89 91 98 59 0501 20 18 190101 04

  11. STORY BEGINS… • An ITEM CODE… • Is a unique identification sequence whether numeric or alphanumeric to identify items of supply. • At the very thought of a purchase requisition an item code has to be in place to represent the technical specifications of an item. • The item code travels from PR/PO to GR and finally the stock is stored with the same item code to meet the requirements in coming future through indent or MR and to uniquely represent the item stock across the organization.

  12. Why Codify….?

  13. THE BENEFITS....? • Standardisation, by recording and revealing the unique characteristics of Items & allowing inventories to be used efficiently and effectively. • An accurate description of items permits users to readily identify spares or substitute Items which meet the requirement thus reducing downtime. • Improved determination of material requirements and budgeting through greater knowledge of Items in stock. • Reduction of costs of inventories, warehouse space, data maintenance and personnel through the elimination of duplication of items. • Effective co-ordination in procurement by enabling the elimination of concurrent acquisition and disposal of the same items, consolidating orders from several users to benefit from price reductions on bulk purchases.

  14. CENTRALISED VIEW OF STOCK

  15. ITEM CODIFICATION SCHEMA IN NHPC

  16. Material Codification Schema • The length of the codes is 12 digits • First two digits signify main group. • Third and fourth digits signify sub-group against each main group • Fifth and sixth digits signify sub-sub group under each sub group. • Seventh and eighth digits signify category/characteristics of the items classified under sub-sub group. • Ninth, tenth, eleventh and twelfth digits serialize or logically further classify by technical parameters the items depending upon the type of item.

  17. Major Groups • Major Group 01 to 19 – Project construction equipment and their spares linked to the equipment and constructional items. • Major Group 20 to 39 – Power generation plant equipment, Support systems, Ancillaries their components, proprietary spares based on the identification of the point of use and the capital asset/system. • Major Group 40 to 64 – Generic electrical items and hardware used any where and standarised. • Major Group 65 to 89 – Mechanical support system and generic items used anywhere and standarised. MG 89 is for scrap items. • Major Group 90 to 99 – Items used for administration, communication and general purpose.

  18. 04 - HEAVY EARTH MOVING & CONST. EQUIPMENTS Equipment Make(e.g. Hindustan Motors,TATA P&H, Coles, TIH, Escorts, BEML, Cater Pillar etc.) Type of Equipment(e.g. Cranes, Dozers, Dumpers etc) EquipmentModel(e.g. HM-93, 955ALC,TC670, C-8000, BD-65 etc.) Major group Spares for this equipment 049999999999

  19. GLIMPSE OF CODIFICATION SCHEMA

  20. EXAMPLE – MG 04

  21. THE TRANSIT CODE…? • A New Concept. • To meet the Item code requirement at the item of creating Purchase Requisition – as make model of item is not exactly known. • This code ends TC (Eg. 630104000001TC). • Can be used in the system till tendering stage. • Once tender is finalized and make/model has been decided this is to be replaced with actual code in Purchase Order.

  22. ITEM CODIFICATION & INVENTORY PART CREATION

  23. STEPS TO IFS ITEM CODE CREATION

  24. TAT SAMAY SEWA FOR ITEM CODIFICATION REQUESTS

  25. TAT SAMAY SEWA

  26. ITEM CODE REQUEST

  27. ITEM CODE REQUEST FORM

  28. THE PART CATALOG

  29. THE INVENTORY PART

  30. BE CAREFUL …. ! • Standard item description as per OEM catalogue is provided. • Base Unit of measure as per standard practice is to be provided. • Whether the item is a Fixed Asset/ Capital spare is to be indicated. • The file must contain contact information of the end user for any technical queries related to specification of items. • Only requests received in template received will be attended.

  31. CODE IS AVAILABLE WHAT NEXT…? • Once code is communicated to you or is identified by you attached on your site: • Please go to the Supplier for Purchase Part screen and query for the said code & choose the supplier code from LOV. Enter the unit rate and save the record. • Once the item code is linked with the supplier the user can create PR/ PO.

  32. STORES FUNCTIONALITY FOR END USERS

  33. IFS ERP Inventory Module & You… • Preparation of Material Requisitions • Availability/ Non Availability Certificate • Inspection of Material during GR process

  34. AVAILABILITY / NON AVAILABILITY CERTIFICATE

  35. MATERIAL INSPECTION DURING GOODS RECIEPT

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