Production Accounting, Intend, Purchase Order & Inventory Tracking System
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The document discusses an inventory management system that offers cost-effective and simple solutions for manufacturing companies. It provides screen shots and descriptions of features like production accounting, purchase order tracking, inventory management, and reporting. The system aims to improve efficiency, reduce costs, and provide alerts and reports to support decision making.
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![Contact : Kanagaraj Duraisamy Phone : +91 44 2433 8455 Mobile : +91 95000 90626 Email : [email_address]](https://image.slidesharecdn.com/productionaccountingintendpurchaseorderinventorytrackingsystem-1259237951468-phpapp02/85/Production-Accounting-Intend-Purchase-Order-amp-Inventory-Tracking-System-1-320.jpg){kind=tracking}
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The document discusses inventory valuation methods and the flow of inventory costs. It provides examples of specific identification, average cost, FIFO, and LIFO inventory methods. Under specific identification, the actual cost of the item sold is matched to the sale. Average cost assigns all units the average cost. FIFO assigns the earliest costs to cost of goods sold and most recent to inventory. LIFO assigns most recent costs to cost of goods sold and earliest to inventory. The examples illustrate the journal entries and calculations for each method.
Perpetual and periodic inventory method – inventories perpetual inventory method
The perpetual inventory method involves continuously updating inventory records on a daily basis for additions and subtractions from inventory. This method is suited for businesses with high-value, frequently sold items. The periodic inventory method only involves physically counting inventory at set intervals, usually at the end of an accounting period. This method is more expensive and time-consuming. Under the periodic method, the cost of goods sold is determined by opening inventory, purchases, and closing inventory.
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The process of inventory accounting and its needs is explained in this PPT presentation. An Inventory appears in two principal financial statements. They are Income Statement and Balance Sheet. “Financial Accounting” lesson bought to you by Welingkar’s Distance Learning Division.
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As 2
This document outlines accounting standards for valuing inventories. It defines inventories as assets held for sale, in production, or as materials used in production. Inventories should be valued at the lower of cost or net realizable value. Cost includes purchase price, conversion costs, and other costs to bring inventories to their present state. Net realizable value is estimated selling price less costs to complete and sell. Accepted cost flow methods for valuing inventories include FIFO, LIFO, and weighted average cost. Financial statements must disclose the accounting policy, cost formula used, and inventory classifications.
Periodic Inventory vs. Perpetual Inventory
The document compares periodic and perpetual inventory systems. A periodic system only counts inventory at the end of a period, while a perpetual system continuously updates inventory records. The periodic system requires a physical count and has less control, while the perpetual system has ongoing costs but provides continuous, accurate inventory and cost of goods sold information needed for management decisions. Overall, the perpetual system is preferred as it avoids inventory counts and provides more timely data.
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Digitization of your manufacturing processes can significantly boost your factory performance. Improve OEE, reduce lead time, optimize planning to meet customer demand with Industry 4.0 solutions. Automotive, pharmaceutical, food&beverages and many more industries.
ERP
This document discusses Eloquent Technology and their vision for providing adaptive enterprise resource planning (ERP) solutions. It outlines key benefits of ERP systems such as integrating financial and customer order information, standardizing processes, reducing inventory levels, and improving human resource management. The document also covers ERP implementation approaches, challenges, and strategies for ensuring ERP solutions deliver promised benefits and help enable profitable growth.
ERP for Manufacturing Industry.pptx
Enterprise Resource Planning (ERP) software and systems used to plan, manage, and deliver particular features supporting manufacturing activities are referred to as manufacturing ERP. Modern manufacturing ERP systems provide a comprehensive business management platform for manufacturing organizations by being designed to seamlessly support and integrate into any business process. For example, the whole production process is managed by the Odoo ERP software, which also creates your bill of materials and automatically reorders materials when stock runs short. Your products’ traceability allows you to track them down to the lot number of each component. ERP software guarantees that your financials are precisely and automatically documented to measure cost and profitability because of its connection to sales and accounting.
Production cycle
The document discusses the production cycle, which includes four main activities: product design, planning and scheduling, production operations, and cost accounting. It outlines the objectives, key documents, and business rules for each activity. It also discusses controls that can help ensure the objectives of authorization, validity, recording, asset protection, and compliance are met throughout the production cycle. Automating aspects of the cycle through tools like computer-integrated manufacturing and RFID can help increase productivity, security, and performance.
Portech
Portech Systems is a provider of wireless and mobile computer solutions established in 1992. They develop cutting edge applications to improve business productivity in various industries like healthcare, education, and retail. Their proven mobile solutions are tailored to each business' needs and are delivered and trained for customers. This improves data accuracy, efficiency, effectiveness and customer satisfaction while reducing costs and increasing profits.
Introduction to ERP
This document discusses Enterprise Resource Planning (ERP) software. It provides an overview of ERP functions such as finance, human resources, manufacturing, inventory, sales, and supply chain management. The document then describes the benefits of ERP systems, including tangible benefits like reduced costs and inventory as well as intangible benefits like increased flexibility and standardization. Finally, the document introduces the Aesthetic Tech ERP system and its key features and modules.
X3 Database Development
This document discusses database development for maintenance management. It covers identifying information needs, capturing the right data in a database, overcoming roadblocks to data entry, and using reports to extract useful information from the database. Specific areas addressed include assets, contacts, parts, work orders, and preventative maintenance. The document provides examples of fields that could be used and reports that could be generated to help with decision making.
Manufacturing product tour | eresourceerp
Eresource has a ERP software designed for Valve manufacturers keeping in mind operational excellence. our erp software for value manufacturing industry has exclusive modules that will help in business process.For details:http://www.eresourceerp.com/erp_links/erp_software_for_valve_manufacturing
Manufacturing ERP Presentation- eresource Xcel
eresource ERP (http://www.eresourceerp.com/) is designed for manufacturing excellence. With visibility throughout the operation and embedded support for a wide variety of manufacturing processes - including make-to-stock, make-to-order, configure-to-order, engineer-to-order , just-in-time (JIT) manufacturing and materials control, and lean operations.
ERP for Manufacturing Industry - eresource Xcel
eresource ERP (http://www.eresourceerp.com) software is an easy to install system that streamlines manufacturing processes through automated planning, scheduling and fulfillment. The system also yields new data intelligence that quickens decision making and reduces administration costs.
ERP for Manufacturing Industry - eresource XCEL
eresource ERP http://www.eresourceerp.com/ is a comprehensive enterprise resource Planning system that offers best-practice support for multi-mode manufacturers in a broad range of Industries.
eresource Xcel ERP | ERP For Manufacturing | Admin Module
Eresource provides manufacturing solutions to midsize Manufacturing Companies with unformed, integrated, on-demand ERP solution designed to reduce costs, improve customer service, increase margins and generate new revenue streams. our erp solution for manufacturing helps you also cut down production bottlenecks. For details:http://www.eresourceerp.com/category/erpmanufacturing
10 Critical Steps Small and Medium Manufacturers should undertake Today
Read our latest Whitepaper to know the top 10 critical steps that Small & Medium manufacturers should undertake immediately. These 10 critical steps will help them to automate their workflows, improve their day to day operations, control operational and overhead costs, increase machine, material and manpower utilization, improve supplier and customer relationships, and increase profitability.
Visit www.omegacube.com for more information on OmegaCube ERP.
Why ERP Software required for your Business
Are you looking for an entirely integrated cloud ERP solution? Get in touch with us to get custom development services that are in line with your business plan.
POS Testing - Challenges and Options
Blog: It gives a glimpse of the importance of POS(Point of Sale) Testing for any retail firm. After stating out the challenges for such an unconventional test environment it points out the benefits of Test Automation.
Improving MES Efficiency & Savings through ERP
Read our latest whitepaper to know how an ERP along with other associated manufacturing technology can improve Manufacturing Execution System (MES) by automating your shop floor processes, bring real-time visibility of production operations, improve machine, manpower and material utilization, minimize disruptions, and open up multiple avenues for increasing efficiency and reducing overhead costs.
Visit www.omegacube.com for more information on OmegaCube ERP.
Similar to Production Accounting, Intend, Purchase Order & Inventory Tracking System (20)
Leverage technical content to improve productivity
Leverage technical content to improve productivity
eresource Xcel ERP | ERP For Manufacturing | Admin Module
eresource Xcel ERP | ERP For Manufacturing | Admin Module
10 Critical Steps Small and Medium Manufacturers should undertake Today
10 Critical Steps Small and Medium Manufacturers should undertake Today
Production Accounting, Intend, Purchase Order & Inventory Tracking System
- 1. Contact : Kanagaraj Duraisamy Phone : +91 44 2433 8455 Mobile : +91 95000 90626 Email : [email_address]
- 6. Screen Shots Component (end-item) Specification
- 7. Screen Shots Material Inward (Foundry)
- 8. Screen Shots Job Card
- 9. Screen Shots Reports: Machine Efficiency
- 10. Screen Shots Reports: Material Status
- 11. Screen Shots Reports: Casting / Machining Defects
- 12. Intend, PO & Inventory Tracking
- 13. Screen Shots Rate Master
- 14. Screen Shots Intend Creation
- 15. Screen Shots Intend Approval
- 16. Screen Shots Purchase Order Creation
- 17. Screen Shots Purchase Order List Page
- 18. Screen Shots Goods Receipt
- 19. Screen Shots Purchase Order Report
- 21. Screen Shots Consumable Issue
- 22. Screen Shots Transaction History
- 23. Screen Shots Consumption Report
- 24. Screen Shots Current Stock Report
- 25. TIS reduces the inventory cost for tools, consumables and raw materials by closely monitoring Stock Card , Movement , Location , Consumption - Machine Wise, Operator Wise, Job Wise, Date to Date and Purchase Detail . Every Data Captured by TIS is valid and useful information for the Management, Engineers and Operational staff to analyze stock of instruments and tools at any point of time. This will help the engineering units to identify pilferage and thereby facilitate cost reduction. TIS is a very useful system to implement "Six Sigma". Benefits Improves Organization Efficiency and Profitability
- 26. Purchase Order (PO) creation & tracking of ordered items and receivables SMS & e-mail notifications to purchase department during delay in goods delivery Comparison of material price offered by different suppliers Avoiding duplicate & excess purchase thereby reducing inventory costs Timely Alerts for ROL helps to manage essential spares which avoids unnecessary machine down time Benefits
- 27. Thorough Consumption analysis helps costing for jobs Avoids manual error & provides accurate stock level anytime Calibration alerts avoid last minute work during audits Tracking & monitoring of all customer supplied items as well as items that go out of premises Timely SMS alerts on tool failures help analyze reasons Avoids malpractice by bringing management’s attention and best practices Benefits
Editor's Notes
- 11/26/09 12:27 © 2007 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista and other product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information provided after the date of this presentation. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.