A typical materials requisition form has the job number, date of request, material description, quantity, and proper management signatures. Depending on the size of the company, request forms are filled out weekly, daily, or even hourly.
ORECS has extended this vital cycle to ground level staff (usually don’t have laptop/desktop ) environment as in ORECS mobile app enables user/site person to request required material scattered in different site locations.
ORECS caters basic purchase cycle in advance manner , Purchase person can have assess the need and determine action for with exact specification, site wise need and considering time line.
Material Physical Receipt :
Purchase request to purchase order cycle extension is payment by buyer and receipt by buyer.
Considering factors of material logistics for geographically diversified locations , physical receipt confirmation is very vital.
ORECS caters this need seamlessly by providing entry access to site staff and communication and reporting of the same in effective manner to management staff.
Material Comsumption :
Materials Consumption Report. The materials consumption report is a document used in the production process to summarize the goods used during a specific accounting period.
ORECS provides material consumption site wise , machinewise, item wise , duration wise with cost.
The above is vital determination for decision making process for benchmarking of material consumption by considering location, site and machine performance.
Stock Updates :
ORECS addresses the modern and very essential need of industry in terms of inventory management.
ORECS stock update provides platform to manage write off, financial year auditing, other stock update scenarios.
Usually in conventional manner this is being taken care by offline paper approval, whereas ORECS enables to monitor such instance in site wise, machine wise and item wise.
ORECS covers the complete sphere of material management.
Purchase Order :
With purchase orders, you can prevent over-purchasing. You can stop overlapping orders with a supplier. If your inventory management system tells you you’re low on supplies but your purchase orders show you’ll receive a shipment tomorrow, everyone in your company will know that you’re in the clear and not to reorder.
Need to estimate how much you’ll spend each quarter? Go back and review your past purchase orders for a glimpse.
History repeats itself – especially in business. To know how much you’ll need in the future, get familiar with how much you’ve bought in the past. Not only will this help you plan for the supplies you need but it can also shed some light on which areas of your business are selling particularly well.
On some occasions, a supplier might be backlogged or might start to slow down their delivery times to you. Looking at past purchase orders can help you see when this is happening so you can either find a new supplier or discuss the situation with your current supplier.
ORECS purchase order reports in consideration of above business interest with status of PO in approval /approved stage.
Inventory Report :
Itemwise Transaction Report :
Inventory is division when all movement is needs to be monitored.
Each difference from opening stock to be recorded and monitored.
Itemwise transaction whether it is movement to other site (followed by physical receipt at that site ) and consumption with track of numbers viz. machine wise, make wise and model wise.
ORECS helps to determine need of minimum inventory to be maintained if material movement is frequent.
Material vs Vendor :
Minimum Stock Alert Preference :
ORECS helps you to manage site wise, Make & model wise, Item wise minimum inventory . which puts sourcing person in comfortable position so effective purchase can be done , instead of emergency purchase.
ORECS functions as alert assistance when inventory hits minimum stock and communicate the same to action owners.
ORECS alert helps you to select immediate responsible person(normally site head) as well provide platform to escalate the alert for any immediate action/ intervention required
Minimum Stock Entry :
Minimum stock is important for all commerce businesses — regardless of whether they’re following a Min/Max inventory system, or whether they’re dealing with cyclical and seasonal customer demand patterns. In fact, maintaining Minimum stock is an essential part of handling availability, sales, retaining business and making customers happy.
Therefore, your minimum stock level must be high enough to cover your vendor’s delivery times, sufficient enough to cover your customers’ demand, but not so high that your business loses money because of high carrying costs.
ORECS helps you to manage site wise, Make & model wise, Item wise minimum inventory . which puts sourcing person in comfortable position so effective purchase can be done , instead of emergent procurement which usally costs very high.
Vendor vs Material :
Although strategic sourcing focuses primarily on reducing costs, its foundation is building longer term, win-win relationships with key suppliers to give buyers a competitive advantage. 1 The nature of the relationship underscores the success of strategic sourcing initiatives. It is critical that both buyer and supplier work together and share information to identify opportunities that will signifi cantly increase savings over time.
Purchase is all about strategy and negotiation ,The objective of the negotiation is to rely on analytical support of data and facts to address multiple issues that will develop a long and lasting relationship between the buyer and supplier. If carried out correctly, a fact-based negotiation process should produce win-win outcomes for both buyer and supplier that can ultimately lead to stronger relationships with fewer suppliers.
ORECS provides vendor wise material with last transaction which becomes very good data feed to ascertain vendor capabilities and degree of negotiation can be decided as per last transaction .
Materials/Assets/Attachements Reports :
Except few exceptions industrial machinery are not in use without accessories /attachment.
Such attachments becomes part of the machinery and same needs to be treated as machine as a whole.
ORECS addresses inventory of asset wise attachment in make , model with other essential details.
ORECS combines master data of machine and asset with attachment which established its unique solution for handling machine as package and its management.