Next Lable Inventory

  INVENTORY MANAGEMENT TECHNIQUE  1. BULK SHIPMENTS This method is based on the assumption that buying and buying goods in bulk is almost always cheaper. Bulk shipping is one of the key technologies in the industry, which can be applied to goods with high customer demand. The downside to bulk shipping is that you will need to put extra money on storing inventory, which will be offset by the amount of money saved by buying larger quantities of products and selling them faster. Pros of bulk shipments Highest potential for profitability Less shipment means reduced shipping costs Works well for staple products with predictable demand and long shelf life Cons of bulk shipments Highest Capital Risk Capacity Rising storage costs It is difficult to adjust quickly when demand fluctuates 2. ABC inventory management ABC inventory management is a technique based on placing products into categories in order of importance, with A being the most valuable and C being the lowest. Not all produ...

TYPE OF INVENTORY RAW MATERIAL  Raw material Any item used to manufacture components or finished products. These can be items produced directly by your business or purchased from a supplier. For example, the potato chips making business may purchase raw materials such as potato, turmeric and salt WORK-IN PROGRESS INVENTORY  Works-in-progress inventory refers to unfinished items to move through production but not yet ready for sale. In the case of the candle-making business, the work-in-progress inventory may be potato chips that are drying and unpacked. MAINTENANCE, REPAIR AND OPERATION (MRO) Maintenance, Repair and Operation (MRO) Goods Items used to aid and facilitate the production of finished goods. These items are commonly used as a result of the production process, but are not a direct part of the finished product. For example, disposable molds used to manufacture potato chips would be considered MRO inventories. FINISH GOODS (FG) Finished goods are products that have co...

INVENTORY   WHAT IS INVENTORY  INVENTORY :-  A Stock of items held to meet future demand   Inventory is the list of goods and materials / products themselves held available  in stock by business WHAT IS INVENTORY MANAGEMENT  INVENTORY MANAGEMENT :-         Inventory management is the management of inventory and stock as an element of supply chain such as controlling and overseeing ordering inventory , storage of inventory and controlling the amount of product for sale .

  WHAT IS ABC ANALYSIS ABC analysis is a list classification technique. ABC analysis divides a list into three categories - "A items" with very tight controls and accurate records, "B items" with less tightly controlled and good records, and "C items" with the simplest possible and minimum records. . Together. 'A' items - 20% of items account for 70% of the items' annual consumption value 'B' item - 30% of the item accounted for 25% of the annual consumption value 'C' item - 50% of the item has 5% of the annual consumption value of the item  breakdown of ABC classes "A" about 10% item or 66.6% value "B" about 20% item or 23.3% value "C" about 70% items or 10.1% value           For more info:-  https://www.blogger.com/blog/post/edit/6705131264869638993/28790711009018072?hl=en

  BILL OF MATERIALS A Bill of Materials (BOM) is a comprehensive list of raw materials, components, and instructions required for the manufacture, manufacture, or repair of a product or service. A bill of materials usually appears in a hierarchical format, with the highest level showing the finished product and the lower level representing individual components and materials. CELEBRATIONS Take, for example, a cadbury celebrations packing   that wants to build 100 box packing . A bill of materials for a cadbury  celebration   will include all the product  that make up the  cadbury  celebrations  such as cartons , tray , poly bag,  chocolates ,  and  warp film   including the quantities required of each items and their cost. A well-defined BOM helps companies: Plan purchases of raw materials Estimate material costs Gain inventory control Track and  material requirements plan  Maintain accurate records Ens...

 WHAT IS RGP/NRGP   Returnable gate pass .this is use in legacy system , when a material or requirement is given to som other plant , within the same company to return it after use , then in such case we use the RGP, NRGP-non returnable gate pass   this is just like invoice with out value . because the requirement or any materials is transferred to other plant with in a company and will not be returned . How many types of gate pass are there? two types There are usually two types of gate passes. Employee pass and material pass. Since most of the movement is either humans moving in or out or materials being sent in or out, two different gate passes can be made for these two purposes. What is inward material? Material Arrival - Taking a vendor in stock for the depot / warehouse as per your order. Material outward - Withdrawing stock from depot as per orders received from your customer. Inbound - delivery made to your depot (sales return or stock receipt) For more info:...

TRANSFER POSTING Transfer posting  Purpose It is meant to remove materials from storage in one storage location and store them in another storage location. This can occur either within a plant or between two plants or company codes. Features A transfer posting usually refers to a change in stock of materials. For example, accepting consignment material, issue with quality inspection. In transfer postings, content can remain in its original storage bin or be transferred. It is used to represent organizational-relevant relocation within the company (for example, decentralized storage. So, transfer posting is a change in the book keeping information about a material. For most posting changes, the item stays in the same physical location. For Example, Issue of material stock from inspection Designating available material as inspection stock Change a material number Material divided into two or more batches Converting special stock, such as consignment stock or returned stock, into comp...

HOW TO MAKE GRN FOR PM (PACKING MATERIAL)  TYPE MIGO  ENTER CLICK THE GOODS MOVEMENT  SELECT OUTBOUND DELIVERY  (SELECT  THE PURCHASE ORDER ) P.O NO ENTRY  DELIVERY NOTE (INVOICE QTY ) BILL OF LADING (L.R NO ) HEADER TEXT (VECHAL NO ENTRY ) QUANTITY  QTY  IN  UNITE ENTRY  (AS PHYSICAL ) CHECK ITEM OK  GO TO WHERE  STORAGE LOCATION  TEXT -ENTRY E -WAY BILL NO  BATCH (ENTRY ) VENDOR BATCH (DELIVERY NOTE / INVOICE NO. ENTRY ) DATE OF MANUFACTURING  (INVOICE DATA ) CLICK ON CHECK  CHECK ITEM OK  GRN NO. CREATE & NOTE IT . For more info :-  https://www.blogger.com/blog/post/edit/6705131264869638993/8045437693148165781?hl=en

HOW TO GENERATE P.O (FOR SET THE  SCHEDULE) ME21N CLICK DISPLAY PURCHASE ORDER  P.O NO. ENTRY  CLICK THE PENCIL OPTION / F7  CLICK THE ITEM DETAILS INVOICE QTY AND DATE CHANGE  SAVE  NOTE :- IN CASE OF P.M GRN For more info:-  https://www.blogger.com/blog/post/edit/6705131264869638993/5741818177864059891?hl=en

 HOW TO MAKE GRN FOR EDIBLE BULK TYPE MIGO CLICK THE GOODS MOVEMENT ENTER OUTGONE DELIVERY NO. (DELIVERY NO. ENTRY ) ENTER BILL OF LADING (L.R NO. ENTRY ) HEADER TEXT  (VECHAL NO.) CLICK THE QUANTITY  ITEM OK --CHECK  CLICK THE WHERE STORAGE LOCATION  TEXT -E-WAY  BILL NO. ENTRY  CLICK ON CHECK CLICK ON  POST CREATE GRN NO. & NOTE IT . For more info:-  https://www.blogger.com/blog/post/edit/6705131264869638993/8923055331240214995?hl=en

 SALES INVOICE BY SAP   ME21N (FOR STOCK) 1ST STAPE: SELECT KF INTRA STO & PLANT CODE (SUPPLYING PLANT)   PURCHASE ORGANISATION --   ENTRY   PURCHASE GROUP -- ENTRY   MATERIAL CODE -- FG (FINISH GOODS)   P.O QTY PUT IN BOX + BATCH NO. + DELIVERY                                                     (NOTE: DEPOT CODE + STORAGE LOCATION )   MATERIAL CODE -- CHECK OK P.O QTY IN BOX -- CHECK OK BATCH NO -- CHECK OK DELIVERY DATE -- CHECK OK DEPOT CODE -- CHECK OK STORAGE LOCATION -- CHECK OK   THREE TIME ENTER & SAVE STO NO. CREATE AND NOTE IT      2ND STAPE : /NVL10B (FOR DELIVERY NO. CREATE )  ENTRY  SHIPPING POINT ENTRY DATE REMOVE   F8 SELECT STO NO.         ...

 WORK OF STORE KEEPER   BASIC WORK OF STORE KEEPER    Receiving of material and verification  as per document.   Monitoring and tracking of shortage material and physical.  Knowledge of FIFO, FEFO    Line auditor from store end.    Ensuring movement of the material from incoming area to main store.   Material issue as per plan. Responsible for 5’S and housekeeping of ware house. Supervised the import and export loads and bulk cargo  BASIC WORK OF SENIOR STORE EXECUTIVE   Aging sheet maintained daily Preparing monthly stock reconciliation report Maintain minimum and maximum level in store. Sending of email and other communication concern to department Manage the training and development of new recruiters.  Daily maintain excel sheet to remind physical stocks. Continuous fallow up with the transporter until consignment reaches up its destination.   For more info :-  https://www.blogger.com/...

IN WHICH CASE WE USE FIFO     USE OF   FIFO (FIRST IN FIRST OUT)       When we suspect batch wise / date wise / month wise any material (like food product or others), what comes first will go first, ie the product that comes first will go to the market first. USE OF   FEFO (FIRST EXPIRE FIRST OUT) When we make any product (such as food products and other products) then everyone has an expiry date, so what we do is sell the product that is made first, before any product goes bad. Be consumed For more info:-  https://www.blogger.com/blog/post/edit/6705131264869638993/431436093468909432?hl=en

ROLE AND RESPONSIBILITY OF WAREHOUSE MANAGER  ONLINE REJECTED MATERIAL HANDLING  1.      PURPOSE 1.1           To handle & move online rejected material from warehouse  2      SCOPE 2.1          This proced ure   is applicable for proper handling and movement of online rejected material. 3.      RESPONSIBILITY 3.1        Warehouse / QA 4.      PROCEDURE

PROCESS FLOW CHART IN CASE OF EDIBLE  MATERIALS (E.M) EM  RECEIPT   DOCUMENT ENTRY AT GATE  INVOICE COPY TO STORE    SAMPLING REQUEST TO QC    QC PASSED    UNLOADING OF EM                  QTY VERIFICATION BY STORE. For more  :-  https://www.blogger.com/blog/post/edit/6705131264869638993/4132305642923759880?hl=en    

PROCESS FLOW CHART IN CASE OF PACKING MATERIALS (P.M) PM  RECEIPT   DOCUMENT ENTRY AT GATE   INVOICE COPY TO STORE     SAMPLING REQUEST TO QC     QC PASSED      UNLOADING OF PM                      QTY VERIFICATION BY STORE.