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Inventory Module

Objectives:

The objective of the Procurement with Inventory Management module in the BRLPS ERP MST project is to establish a comprehensive and efficient system for managing the procurement processes along with inventory control. This module aims to streamline the procurement lifecycle, from requisition to contract management, ensuring transparency and adherence to regulatory requirements. It also encompasses effective inventory management, optimizing stock levels, and minimizing wastage. The key objectives include facilitating requisitions, creating procurement plans, preparing bid documents, managing bid openings and evaluations, overseeing contracts, tracking deliveries, and processing payments. Additionally, the module aims to provide detailed reporting and insights into procurement activities, enhance compliance, and improve overall efficiency in the management of procurement and inventory processes within the organization.

Scope:

  • Efficient Procurement Lifecycle: Streamline requisitions, bid documents, and procurement plans for transparency.
  • Bid Opening and Contract Management: Conduct bid openings, evaluate bids, and manage contracts effectively.
  • Delivery and Payment Processing: Track deliveries, process payments, and integrate with finance modules.
  • Consulting Services Management: Handle requisitions, EOIs, RFPs, shortlisting, and contract signing for consulting services.
  • Inventory Optimization: Efficiently manage stock levels and minimize wastage through effective inventory control.
  • Customized Reporting: Generate detailed reports on procurement and inventory activities.
  • Integration and API Development: Seamlessly integrate with financial modules and develop APIs for external data sharing.
  • Vendor Management and Compliance: Manage vendor payments, ensure compliance, and maintain thorough documentation.

Features:

  • Efficient Procurement: Streamlined processes for requisitions, bid documents, and procurement plans.
  • Bid Management: Conduct bid openings, evaluations, and effective contract management.
  • Delivery Tracking: Record receiving challans, stock entries, and integrate with finance modules.
  • Payment Processing: Efficiently process payments, including bid security and contract amounts.
  • Consulting Services Management: Handle consulting requisitions, EOIs, RFPs, shortlisting, and contract signing.
  • Inventory Optimization: Optimize stock levels, minimize wastage, and provide insights into inventory data.
  • Customized Reporting: Generate detailed reports on procurement activities and inventory status.
  • Integration and APIs: Seamlessly integrate with finance modules and develop APIs for external data sharing.
  • Vendor Management: Manage vendor payments, export data in PFMS format, and handle utilization certification.
  • Compliance and Documentation: Ensure compliance with regulatory requirements and maintain thorough documentation.
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