Inventory, supply and requisition levels

Introduction

Introduction to inventory levels, supply and requisitions

The inventory, supply and requisition levels module has several functionalities. The first is to know in a graphical and simple way the stock levels in which our inventory is located. According to an optimal level of stock that we establish for each spare part, the inventory tells us in percentage terms the level of our stock, that is, if we are already very close to reaching 0 or if we still have enough stock.

This module manages a series of alerts that are very useful to us and that warn us in advance when we are close to reaching a minimum level of stocks, which we establish as a security level. It alerts us at the moment that we are below the minimum level, which means that we must already buy more spare parts. In the same way, it tells us when we are about to run out of stock and when we are already at 0.

All these alerts are very useful to anticipate with the purchase of spare parts and avoid, as far as possible, running out of stock.

Another important point here is that the procurement time of each spare part or consumable is considered, that is, the time it takes for the spare part to arrive, from the purchase process until it enters our warehouse. This reference is also very important since, if we make a purchase of material after this point, it is very likely that at a given moment we will run out of stock waiting for the arrival of the spare parts.

Another very interesting feature in this module is being able to know the time or days that we have covered with our current stocks. According to the consumption of each of our spare parts and consumables, it is possible to estimate how many days the stock of each product will reach us for.

This time can be calculated in two different ways:

  1. Based on the rotation or average monthly consumption of each part or consumable, or
  2. Based on the maintenance schedule of the equipment where a specific spare part is used.

Later we will explain the advantages of using each of the calculation methods.

This graphical way of viewing our stocks is very useful, since, at a glance, we can know which products require our attention and which do not.

Well, with all of the above, another functionality of the module is to know easily and quickly which products we must source from. Using a series of filters that this module has, it is easy to filter and know all the products to which we must or want to generate a requisition so that the corresponding purchasing department can proceed with its purchase.

The last point would be to generate the proper requisitions. Once we filter and decide which products we should or want to buy, we can generate a requisition. The idea is that this request is passed on to the purchasing department in charge so that they can process the proper purchase with the supplier that suits them. In this module it is possible to know which products are on order so that they can be followed up with the purchasing department.

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